News

London's leading share index soared to its highest level since May 2008 in afternoon trading yesterday, breaking through the 6,300 barrier, as the New Year rally continues to gather pace.

Consensus opinions over the strength of the US and Chinese economies should be viewed with suspicion, according to Henderson's John Bennett, who has compared analyst forecasts to "fairy dust".

Following a change in legislation to allow dividends to be paid from capital profits, questions have been raised as to how the distribution powers will be used - if at all - by the investment trust world. Kira Nickerson reports.

US treasury 10 year yields have climbed past 2% for the first time in nine months, as better than expected data in the US helped bolster risk asset sentiment.

It has been almost one year on since the introduction of new dividend rules for investment trusts that enabled UK-domiciled ITs to pay out capital gains as income.

The Upper Tribunal (Tax and Chancery Chamber) has directed the Financial Services Authority (FSA) to fine Swift Trade, a non-FSA authorised Canadian company with global operations, £8m for market abuse.

Rupert Robinson, former chief executive of Schroders UK Private Bank, has joined Signia Wealth to spearhead the company's expansion plans.

Dan Saxby has joined Arbuthnot Latham & Co as a director of private banking.

Former Cofunds chief executive Brett Williams is to take an advisory role at Kuber Ventures, a multi-manager platform for Enterprise Investment Scheme (EIS) portfolios.

Majedie Asset Management has launched a UK Income fund for manager Chris Reid.