Investment

Royal Bank of Scotland (RBS) is preparing shareholders for the government to sell down its 79% stake in the lender by asking them to vote on costs related to a sale at its annual general meeting.

Deutsche Bank shareholders voiced their lack of confidence in the company's leadership during its annual meeting yesterday, with 39% voting against approving the performance of the group's co-chief executives.

Waverton Investment Management has appointed former Kames Capital head Andrew Fleming as its new chief executive, following the departure of Hugh Grootenhuis.

Newton Investment Management's Jason Pidcock is leaving the group to set up an Asian income strategy at Jupiter.

Tesco has said it "sincerely regrets" the accounting error which overstated profits by £263m and is forecasting volatile times ahead for the firm.

Matterley has launched the FP Matterley Bond Opportunities fund for the recently appointed Peter Geikie-Cobb.

Wealth manager Courtiers is preparing to launch three income funds in a bid to attract pension savers.

Simon Brazier, manager of the £203m Investec UK Alpha fund, has joined the debate on Tesco, arguing the supermarket giant fails to meet his key criteria for investment.

The S&P reached a further record high at closing yesterday, as disappointing economic data coming out of the US alleviated fears of an interest rate rise in the near future.

First State Stewart's global emerging markets team is turning more positive on one of investors' least-loved global equity markets, saying valuations now warrant closer attention.