News

National Savings & Investments (NS&I) is reducing the interest rates on its income bonds, Direct Saver and Direct ISA from September, in response to the ongoing low interest rate environment.

Gordon Grender, manager of the GAM North American Growth fund, is holding a fifth of his portfolio in cash as he struggles to find attractive valuations in the US market.

The Financial Conduct Authority (FCA) has fined Xcap Securities, a retail investment and capital markets business, £120,900 for failing to adequately protect client money and client assets.

The continued weakness of sterling against the US dollar has prompted fund buyers to move out of sterling-hedged share classes and into unhedged or dollar-denominated positions.

Japanese equities gave up nearly 200 points overnight as the Bank of Japan (BoJ) disappointed the market by opting to keep its monetary policy unchanged, failing to address concerns over bond market volatility.

Charles Stanley has reported an 8% increase in adjusted pre-tax profit for 2012-13 but lamented that an 'unfair' Financial Services Compensation Scheme levy knocked final figures.

Lloyds Banking Group has admitted to failings in its handling of payment protection insurance (PPI) complaints, following an undercover investigation.

Vanguard managing director Thomas Rampulla and AXA IM UK head Irshaad Ahmad have joined the IMA board, boosting total numbers to 18.

Shore Capital has upgraded wealth manager Brewin Dolphin to a 'buy' after the group successfully navigated the RDR rule change by retaining clients despite an increase to its fees.

Old Mutual Wealth CEO Paul Feeney is in line for a bonus package of nearly £400,000, according to plans formalised today.