News

Platform fees will remain VAT exempt, according to guidance released by HM Revenue and Customs.

Shares in Twitter have fallen 20% in pre-market trading after it reported a net loss of $645m (£396m) for 2013, just three months after flotation.

Barings Asset Management will close its China Growth fund in April after six years.

Vodafone, the second largest mobile operator in the world, has seen a sharp fall in revenue due to lack of demand and increased competition in Europe.

AstraZeneca' profits dropped sharply in Q4 as strong emerging market sales failed to offset competition from cheap generics, and several of its leading drugs edged towards the patent cliff.

Investec is considering the sale of Kensington, its intermediary mortgage business in the UK, and has appointed Fenchurch Advisory to conduct the procedure.

Close Brothers Asset Management has launched a new clean pricing structure on its self-directed platform, which will come in to operation on 10 March.

Skagen Global has added a portfolio manager to its flagship team in the second appointment so far this year.

Jupiter's emerging Europe specialist Elena Shaftan is to retire from the group, with her funds handed over to Kathryn Langridge, Investment Week understands.

Data provider FE has named several rising stars of fund management in its 2014 Alpha Managers list, as well as recognising the industry's veterans.