News

Regulators have fined the Royal Bank of Scotland (RBS), NatWest and Ulster Bank £56m for IT failures which meant customers could not access banking services.

Neil Woodford has invested £16m in a US biotech company working on brain tumour treatment.

Kames Capital chief executive Martin Davis has hit out at a recent Consumer Panel report that was highly critical of the structure of fund charges as "over-simplistic" and another "rant".

Former Schroders chief investment officer Alan Brown has stepped down from the board of the Investment Management Association (IMA).

Shares in Royal Mail fell by more than 8% after the company reported a fall in profits amid rising fears over competition from online retailers.

Minutes released by the Bank of England's Monetary Policy Committee this morning revealed a more hawkish stance than investors expected, helping to lift the flagging UK currency.

Psigma Investment Management has launched a cautious income strategy for its Managed Portfolio Service to target pension savers.

Financial Conduct Authority (FCA) chairman John Griffith-Jones said he is glad the Retail Distribution Review (RDR) did not take longer than expected, adding it achieved its aims despite failing to distinguish between guidance and advice.

Assets under administration at platform and self-invested personal pension (SIPP) provider James Hay hit £16bn in the third quarter of the year, however, expected profit forecasts at the business have been cut.

The Japanese yen has plunged to a seven-year low against the dollar in the wake of prime minister Shinzo Abe's announcement of a snap December poll.