News

Richard Buxton, who is set to join Old Mutual Global Investors from Schroders next week, has argued there are too many funds in the UK market which are not generating adequate returns.

Investors who switch from bundled to clean share classes will not have to pay capital gains tax as a result of transferring, new rules introduced by HM Revenue & Customs (HMRC) clarified today.

Shares in Royal Bank of Scotland dropped 7% at the start of today's trading session in London following news CEO Stephen Hester will step down later this year.

Last July's pledge by ECB president Mario Draghi to do "whatever it takes" to save the euro has sparked a run that saw the MSCI Europe index beat the MSCI World by 6% in the last year, surpassed only by the US in terms of performance.

Bookmakers have already set odds on who will replace Stephen Hester at the helm of RBS, following his shock resignation announcement yesterday.

The Nikkei endured further sharp losses on Thursday, entering a bear market as investors sold Japanese shares ahead of an expected tapering of QE by the US Federal Reserve.

The Royal Bank of Scotland (RBS) is set to announce 2,000 job cuts on Thursday, after it emerged chief executive Stephen Hester is to step down, according to reports.

RBS CEO Stephen Hester is to step down from the bank later this year as it "begins to prepare for privatisation".

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.