News

Sterling has risen above $1.69 against the US dollar during trading, nearing its highest level for five years following the release of strong manufacturing data for April.

Henderson's Stewart Cazier is to join Old Mutual Wealth, with Paul Craig also joining the firm, after the group agreed a deal to buy up Henderson's remaining stake in Intrinsic's investment company Cirilium.

The average strategic bond fund now holds less than half its assets in the UK, as managers "starved" of opportunities rotate into Europe, the US, and emerging market debt.

The Financial Conduct Authority has banned a former UBS trader from regulated financial services due to failings associated with rogue trader Kweku Adoboli.

A trio of fund managers at Invesco Perpetual are exiting the firm to join Neil Woodford's new venture.

Schroders' private banking arm has seen net revenues almost double following its acquisition of Cazenove Capital last summer.

Phoenix Group Holdings is awaiting a boost from the Ignis deal, set to complete in Q2, as it sees a drop in cash generation in Q1 compared to last year.

Lloyds Banking Group has reported a 22% rise in underlying profit to £1.8bn in the first quarter of the year.

Platform Nucleus saw its assets under administration jump 37% in 2013 to £6.2bn, with gross inflows up 26% to £1.7bn, driving a sharp climb in profitability.

The US economy has posted disappointing growth figures in the first quarter of the year, slowing sharply to just 0.1% after adverse weather conditions impacted the world's largest economy.