News

Threadneedle is to close its Worldwide Select multi-manager fund, one of the range that it acquired from LV= in 2011.

Two members of the Bank of England's Monetary Policy Committee voted for a 25bps rate hike this month, latest minutes show - the first call for hikes in over three years.

Ministers considered selling the government's entire stake in the Royal Mail earlier this year when shares were trading near their peak, but held back after being advised against breaking the terms of a lock-up agreement.

The Investment Management Association is right to enforce rules forcing low-yielding funds out of the equity income sector, according to Allianz's Simon Gergel.

Balfour Beatty has rejected a third, £2bn takeover offer from rival construction firm Carillion, sending its shares down sharply.

Standard Chartered has been hit with yet another multi-million dollar fine, after it agreed to pay $300m (£180m) to New York's top banking regulator for failing to improve money laundering controls.

Old Mutual Global Investors' Richard Buxton is considering buying Tesco for the first time in four years, as managers investigate a contrarian opportunity in the stock despite the spectre of dividend cuts.

Royal London chief executive Phil Loney has said the group is currently preparing its wrap platform Ascentric to be "four or five times the size it is today" over the coming years, following a tougher 2014.

Product provider Aegon has distanced itself from a view attributed to its head of marketing that advisers have been "disintermediated" and that its future lies in direct relationships with consumers.

A financial adviser has been jailed for five years for stealing a total of £85,000 from his victims in a theft campaign targeting the elderly and the recently bereaved.