News

Citigroup is to pay out $590m to shareholders in one of the biggest settlements connected to the global financial crisis, after it was accused of hiding its subprime exposure during the 2008 crash.

Barclays has appointed Antony Jenkins, its former head of retail and business banking, as its new boss.

The UK's Serious Fraud Office has revealed it is investigating payments between Barclays and Qatar Holding during the credit crisis, in yet another blow to the bank.

The government should reconsider its decision not to adopt Vickers report proposals on derivatives and questions now need to be asked over a full split between retail and investment banking, according to the IMA.

Threadneedle is to roll out a range of commission-free share classes across the majority of its fund range, and waive initial charges for advised UK retail investors, as it makes its proposition ready for the post-RDR world.

The US economy expanded by 1.7% in the second quarter, more than previously thought, the latest reading has shown.

The Financial Services Authority (FSA) has begun a new phase of its review into wealth management, focusing on client outcomes.

Shares across Europe were lower in trading this morning as concerns mounted ahead of a key gathering of central bankers on Friday.

Sarasin & Partners' Guy Monson has warned sterling's recent show of strength against the euro could be about to end, as ECB intervention draws near and the UK's QE policy weighs on the pound.

Strategic bond fund managers Richard Hodges from LGIM and Fidelity's Ian Spreadbury both expect UK government bond yields to remain at their abnormally low levels for the foreseeable future.