News

J.P. Morgan has reportedly agreed to pay an £8bn ($13bn) fine as part of a settlement with the US over its role in the mortgage-backed securities market, which led to the near-collapse of the US financial system.

Aberdeen Asset Management and Macquarie Group are the two remaining bidders battling it out for Scottish Widows Investment Management (SWIP), Investment Week understands.

The Bank of England (BoE) could increase interest rates a "fair amount" without hurting homeowners taking advantage of the government's Help to Buy scheme, according to one of its policymakers.

The Co-operative Bank has said it expects to shell out a further £100m in compensation to cover "revised" estimates on claims made over the sale of PPI.

There was really only one story grabbing the headlines in the retail financial services world this week - the surprise exit of the most famous investor in the UK, Invesco Perpetual's Neil Woodford.

Investors who have been trapped in the suspended EEA Life Settlements fund for nearly two years yesterday voted in favour of restructuring the company.

The Investment Management Association (IMA) has removed the CF JM Finn UK Portfolio fund from the UK Equity Income sector after it failed to meet yield requirements.

The Financial Conduct Authority (FCA) has said it is reassured by the progress banks have made in moving away from incentives-based sales models but it is still concerned about how investment and protection products are sold to consumers.

HSBC has been ordered to pay out $2.46bn by a US court after it lost a class action lawsuit against Household International, the lender it bought pre-crisis.

Invesco Perpetual's Mark Barnett is preparing a number of strategies to help preserve the performance of the group's Income funds if Neil Woodford's departure triggers outflows.