News

The Financial Services Compensation Scheme (FSCS) has paid out more than £4.5bn compensating almost 230,000 customers of collapsed Icelandic bank Icesave, it has revealed.

Cazenove's Marcus Brookes and Robin McDonald have bought back into commodities for the first time since the financial crisis, snapping up funds which have sold off sharply on the back of tumbling commodity prices.

Five colleagues of the hedge fund fraudster Bernard Madoff are awaiting trial on Tuesday, following a five-year probe into one of the biggest Ponzi schemes in history.

Soaring demand from retail investors for Royal Mail shares has pushed the estimated opening share value above £4.00.

There were signs of tentative progress on the US fiscal deadlock yesterday as President Obama indicated he would accept a short-term increase in the nation's borrowing authority to avert a default.

Octopus has appointed former Prudential UK and Europe chief executive Rob Devey as a non-executive director.

Fixed income boutique MacKay Shields has hired Matthew Nagele, previously at Janus Capital Group, as head of distribution for UK and EMEA.

IFA Willow Financial has been forced into administration over £1.5m in liabilities relating to its Arch cru advice - but has been bought back by some of its former partners at a knock-down price, and they won't be footing the bill for claims.

Cofunds has scrapped its annual £40 fixed platform charge for clients using its explicit pricing model, following its takeover by Legal & General.

HSBC Global Asset Management has appointed high yield specialist Mary Bowers to its global fixed income team.