News

BP shares fell almost 4% in morning trading as the cost of litigation following the US Gulf oil spill led to sharp losses for the group in Q2.

The FTSE 100 has added 1.2% to move back towards 5,700 as global markets anticipate concrete policy action to protect the euro later this week.

International private bank and asset manager EFG Asset Management is set to launch a concentrated Chinese equity fund for ex-GAM manager Mansfield Mok.

A sole trader independent financial adviser has been banned by the Financial Services Authority (FSA) and fined £10,500 for lacking competence and failing to treat his customers fairly.

Franklin Templeton has launched a Brazilian Opportunities fund targeting a total return from Brazilian equity, fixed income and currency markets.

Chairman of Goldman Sachs Jim O'Neill has said Spain's stricken economy may not need a full bailout, despite yields on Spanish bonds continuing to soar to eye-watering levels in recent weeks.

AXA Framlington's Nigel Thomas was awarded the outstanding contribution to fund management at Investment Week's Fund Manager of the Year Awards this month after almost 30 years in the industry.

BlackRock's Richard Plackett is to be joined by Roland Arnold as a co-manager on the £1.4bn UK Special Situations fund.

Moody's has said new ESMA guidelines on ETF stock lending are "credit negative" for asset managers and will hit profitability - but will also spark an uptick in investor interest.

The IMA is to begin charging non-members to list funds in its sectors in a move that could see some groups removing vehicles from the listings altogether.