News

Wonga will write off the debts of 330,000 customers, worth £220m, after the FCA found flaws in its system for assessing the ability of borrowers to pay back their debts.

The PIMCO Total Return bond fund shed a net $23.5bn in September, latest figures show, as outflows accelerated following Bill Gross' departure.

Challenger bank Virgin Money has announced plans for an initial public offering this month, committing to a progressive dividend policy in the process.

Lloyds Banking Group has hired the former head of discretionary from Barclays' Wealth as part of a rejig of senior personnel within its wealth division.

Prime Minister David Cameron has said the Conservatives will raise the 40% tax threshold from £41,900 to £50,000 if they win the 2015 General Election.

The Channel Islands Stock Exchange has been fined £190,000 for its role in the failure of the Arch cru funds.

Vanguard has expanded its exchange-traded fund range with four funds offering exposure to the UK, European and developed world equity markets.

Morningstar has launched two income portfolios to be actively managed by its Morningstar OBSR Managed Portfolios team.

Investment Week news editor Nick Paler has been named journalist of the year at the Aberdeen UK Platform Awards for a second successive year.

Mid Caps