News

The Financial Services Compensation Scheme (FSCS) has declared 13 financial advice firms in default and invited customers to come forward with their claims.

Harlequin Property, the troubled UK-based overseas property sales agent which is at the centre of a Serious Fraud Office investigation, is embroiled in 15 legal battles in St. Vincent and the Grenadines, IFAonline can reveal.

The Financial Conduct Authority (FCA) is probing the potential manipulation of currency markets, following revelations a number of traders at leading banks have rigged exchange rates.

J.P. Morgan Asset Management (JPMAM) is closing two underperforming funds, including a commodities fund run by Neil Gregson which has suffered sizeable losses following the sell-off in the mining sector.

The Bank of England's Andrew Haldane has said a possible sharp rise in bond yields represents the biggest risk for financial markets at present.

Defensive shares including utilities giant Severn Trent weighed on the FTSE 100 during morning trading, keeping a lid on gains following a tough week which has seen shares retreat further on US QE fears.

Network Intrinsic is set to buy national IFA firm Positive Solutions from parent company Aegon.

The UK economy grew by 0.6% in the three months to the end of May, driven primarily by growth in the production and private services sectors, according to the National Institute of Economic and Social Research (NIESR).

Former HBOS chief executive James Crosby has been stripped of his knighthood, the UK Cabinet Office has said.

A sign that the great sell-off in bonds could be imminent was seen this week after yields on Treasury Inflation Protected Securities (Tips) turned positive.