News

Music and DVD chain HMV is to call in administrators Deloitte today as the 250-strong chain becomes the latest casualty on the high street.

The scale of the fine due to be levied on the Royal Bank of Scotland (RBS) for its attempts to manipulate the Libor interest rate could be as high as £500m, according to reports.

Shares in Apple fell to an 11-month low overnight after disappointing sales of its latest iPhone.

J.P. Morgan Chase was last night ordered to improve its risk management following a $6.2bn (£3.8bn) derivatives trading loss highlighted by a London-based employee dubbed the "Whale".

Jon Bailie has joined Pioneer Investments to head up distribution efforts in Western Europe and Latin America.

Pioneer Investments is gearing up to add an Emerging Market Corporate Bond fund to its product range by the end of the month.

M&G's Mike Riddell has sold out of his position in 5- and 7-year Italian government bonds ahead of a possible sell-off following the country's general election.

Fund managers and strategists have begun reducing exposure to sterling, amid fears rising inflation and the threat of a UK downgrade could derail the pound.

Andrew Sykes, head of business development for J.P. Morgan's Middle East and North African business, has left the firm.

Aberdeen Asset Management has appointed Dimme Lucassen as a fund manager within the property multi-manager team, based in Amsterdam.