News

The number of offers of redress from banks to customers who took out interest rate hedging products is set to increase "rapidly" over the coming months, the Financial Conduct Authority (FCA) has said.

Christine Lagarde, managing director of the International Monetary Fund (IMF), has warned failure to raise the debt ceiling could be far worse than the current US government shutdown.

Barclays will sell £300m of leftover stock on the open market today after almost 95% of shareholders took the opportunity to buy up discounted shares during its rights issue.

A simple typographical error boosted Spain's 2014 public debt forecast by €10bn (£8.4bn), the government has admitted.

Matthews Asia, the US-based Asia-only fund house, is set to make a further push into the UK market after three years of preparatory work.

Embattled property fund house Brandeaux has admitted the net asset value on its suspended £900m Student Accommodation fund is likely to be 4% less than anticipated, while the £92m Ground Rents fund will lose 5% of its NAV.

Charles Stanley Direct has criticised Hargreaves Lansdown over the cost of its platform transfer charges after the country's biggest D2C platform delayed its shift to a new pricing structure.

Old Mutual Wealth has promoted Peter Mann to vice chairman, with Steven Levin taking over the day-to-day running of UK distribution.

Former New Star marketing director Richard Wilson is to join Jupiter as head of marketing next month.

Henderson retail fixed income head John Pattullo is favouring core companies in core countries across Europe to provide thematic bond investing in a low inflation environment, alongside opportunities in the US.