News

The Bank of England has said market expectations of future rate rises are "not warranted", sparking a drop in sterling and a 50 point jump in the FTSE 100.

The FTSE 100 bounced back this afternoon after a sell-off yesterday, with leading shares recovering from falls amid fresh hopes for a resolution to the crisis in Portugal.

The majority of advisers are preparing to carry out extra platform due diligence following the publication of the Financial Conduct Authority's (FCA) platform paper.

Kleinwort Benson has hired Fadi Zaher from Barclays Wealth & Investment Management as head of bonds and currencies.

The Financial Conduct Authority (FCA) is set to examine wealth managers' and private banks' business models as it establishes a new division to scrutinise the sector.

The chairman of the suspended EEA Life Settlements fund has written to investors after its auditors said the fund is worth $100m less than the value stated in the company's annual update.

Chase de Vere today announced steep losses for 2012 of £11.2m, impacted by the £14.4m set aside to cover the costs of its Keydata legal battle and compensating clients sold Arch cru and payment protection insurance.

The price of oil has broken through $100 a barrel for the first time in almost a year, amid concerns the political turmoil in Egypt could disrupt Middle East supplies.

Liontrust today reported inflows had more than trebled in the last quarter to over £300m as demand for its funds helped lift AUM despite the pullback in markets at the end of May.

European Union lawmakers have narrowly rejected a proposal to cap fund mangers' bonuses, a decision which if approved would have blocked payouts from exceeding annual salaries.