News

European equity markets have slumped in afternoon trading as Spanish 10-year bond yields approach record highs once again.

A proposed £110m redress scheme for Arch cru investors could "irreparably" damage firms forced to pay for the failures of others through the Financial Services Compensation Scheme (FSCS), the regulator has been warned.

Schroders has launched three emerging market debt funds to be managed by recently recruited co-heads of fixed income James Barrineau and Rajeev de Mello.

Jacob de Tusch-Lec, manager of the Artemis Global Income fund, is upping his exposure to Real Estate Investment Trusts as he seeks to inflation-proof part of his portfolio.

Richard Wilmot, manager of Newton's £1.3bn UK Equity fund, has made a foray into the UK banking sector, snapping up shares in Barclays.

US-based manager Brandes Investment Partners has launched an Emerging Market Equity fund as part of a push into the UK retail market.

Old Mutual is preparing to cut 30 jobs as it merges Skandia Investment Group and Old Mutual Asset Managers into a single division.

Microsoft has reported a quarterly net loss of $492m, its first in 26 years as a public company, but it and Google helped ease concerns over the resilience of the tech sector as sales rose despite overall.

Amendments should be made to the Financial Services Bill to ensure the Financial Conduct Authority (FCA) properly promotes UK financial services in the global market, a think tank has said.

Shares in Resolution Limited are selling off sharply this afternoon after it scrapped a planned £250m payment to shareholders amid a warning over its capital position.