News

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.

Mohamed El-Erian, the former PIMCO chief executive who famously quit the firm after falling out with founder Bill Gross, has invested in the peer-to-peer lending industry.

The Bank of England's Monetary Policy Committee remained split 7-2 against raising interest rates this month but took a gloomier view of the country's economic prospects.

Former Miton fund manager James Sullivan is to launch a fund management business within RC Brown Investment Management.

M&G is to cut the annual management charge (AMC) on two of its Episode multi-asset funds by 5bps next month.

The S&P 500 has risen by 2% overnight as US stocks continue to rally from the lows sustained last week.

The Financial Services Compensation Scheme (FSCS) has so far paid out £21.2m in claims related to the collapse of adviser network Alpha 2 Omega (A2O) after finding widespread mis-selling of unregulated collective investment schemes (UCIS).

The Financial Ombudsman Service (FOS) has ordered an equity release provider to repay a client the cost of a lifetime mortgage after it found the client had received bad advice.