News

PIMCO, the world's largest bond house, lost its position as the best-selling fund group in Europe in the first half of the year.

The US economy expanded at a much greater rate than expected, according to latest figures released this afternoon, helping push benchmark US treasury yields back up to 2.82%.

The chairman of Zurich insurance group has resigned days after the apparent suicide of chief financial officer Pierre Wauthier.

Skandia UK sales director Steve Powell is to retire at the end of the year after 23 years with the group.

Sesame, the adviser network arm of Sesame Bankhall group, has reported a loss for 2012 of £9.3m - four times its losses in 2011 - as a provision for a regulatory fine took its toll.

Flows into multi-asset products have been growing consistently in recent months, and multi-asset now constitutes 11% of the UK funds market.

UK net retail fund sales reached their highest level in over two years in July as investors shrugged off June's market volatility.

Shares in Vodafone have risen 9% to their highest level since late 2001 after the group re-opened talks with US peer Verizon over the sale of their joint venture.

Investors who hold bond-like assets issued by Nationwide Building Society can sell them back to the mutual early under an offer made this week.

The Co-operative Group has reported more than half a billion pounds worth of losses in the first half, after sizeable write-offs at its troubled banking arm.