News

FIVE CHALLENGES CARNEY FACES

Positive results from BG Group and Shell, alongside the completion of Glencore's long-running takeover of Xstrata, helped counter losses at UK engineers and propped up UK shares today.

The European Central Bank (ECB) has cut interest rates to a new record low amid ongoing fears about the eurozone's economic health.

The Financial Services Authority (FSA) was ineffective in its role as overseer of the financial services sector because it failed to deliver a good balance of 'prudential' and 'conduct' regulation, according to the chief executive of the Prudential Regulation...

Investment trust broker Numis said it expects the discount on Schroder UK Growth to tighten, following this morning's announcement Julie Dean will take over managerial responsibilities for the trust.

Schroders' chief executive Michael Dobson has cautioned against further acquisitions, saying the firm will now focus on organic growth after completing a string of deals over the past year.

Wealth manager Ashcourt Rowan today said revenues had fallen in the last year amid a restructure of the group as it looks to prepare for future expansion.

The board of the Schroder UK Growth trust has opted to hand over the management of the trust to Cazeonove's Julie Dean, who is joining Schroders imminently.

Schoders reported a pre-tax profit of 17% year-on-year in the first quarter, rising from £95.5m to £115m, after inflows into its fund range more than trebled over the period.

Legal & General said today its recent move to take over fund supermarket Cofunds will lift assets in its savings arm above £100bn to a new record high when the deal completes.