News

The bad news continued for embattled retailer Tesco yesterday after its credit rating was downgraded by two key agencies.

Pensions expert Ros Altmann has called on the Financial Conduct Authority (FCA) to tighten its grip on product providers to ensure customers are treated fairly once they have received the government's proposed retirement guidance.

US equity valuations are not consistent with low inflation expectations and any negative data could quickly cause another steep sell-off, according to Societe Generale's Albert Edwards.

Old Mutual Global Investors (OMGI) has moved to offload its £437m property fund to Henderson Global Investors, proposing a merger of the portfolio into the Henderson UK Property fund.

The Financial Conduct Authority (FCA) is seeking to ban and fine an adviser £290,000 for a series of failings, including that he falsified the signatures of two clients to register them as 'sophisticated' investors.

Lloyds Bank's Charlie Diebel has joined Aviva Investors as head of rates strategy.

Lloyds is expected to cut a tenth of its entire workforce, amounting to around 9,000 jobs, in a digital push over the next three years.

BlackRock is set to overhaul the investment strategy of its Balanced Income portfolio to attract more investors as interest in the product has waned.

Tesco has scrapped its full-year trading update and its chairman is to step down as it deals with the fallout from the accounting scandal which left a £263m black hole in its balance sheet.

Henderson Global Investors is seeking to revamp its "lacklustre" emerging markets range, with plans to strengthen the team and launch additional mandates.