News

Leading fund managers including Richard Buxton at Schroders have been increasing their exposure to major UK banks following the LIBOR scandal which has rocked the sector.

Global miner Rio Tinto has posted a record first half for iron ore production and sales, but shares have come under pressure in early trading after the firm reported output had exceeded sales.

Bank of England deputy governor Paul Tucker came under fire again today as an email emerged showing he had discussed LIBOR rates with HSBC and RBS, as well as Barclays, back in 2008.

UK inflation has dropped to its lowest level since November 2009 after a shock fall to 2.4%.

Henderson Global Investors has acquired French property asset management firm Horizon Investment Management.

A US Senate investigation has uncovered how a "pervasively polluted" culture at HSBC and lax controls left it open to being used to launder dirty money from around the world.

Bank of England governor Mervyn King will appear before MPs at the House of Commons this morning to give evidence on the UK's financial stability and the state of the economy.

Senior FSA executive Andrew Bailey has accused Barclays of operating with a "culture of gaming" which came from top of the bank.

The former chief operating officer of Barclays, Jerry del Missier, has told MPs Bob Diamond instructed him to lower the bank's LIBOR submissions, on the orders of the Bank of England's deputy governor Paul Tucker.

The IMF has cut its forecasts for UK GDP growth for both this year and next as it warns of a "ratcheting up" of financial market and sovereign stress in the eurozone periphery.