News

A former tied adviser who defrauded a friend out of £22,000, pocketing £10,000 for himself, has escaped jail but must repay the money.

Labour leader Ed Miliband has attacked pension companies who "rip off" their clients through excessive fees and charges.

BlackRock has launched a range of funds investing in a number of index trackers, as it moves to compete with the rise in demand for low-cost funds ahead of RDR.

The JPMorgan Chase employee, dubbed the ‘London Whale', who was responsible for an estimated $2bn loss has left the bank.

LIBOR rate-rigging penalties and damages to investors could reach $22bn for the 12 global banks involved, according to Morgan Stanley estimates.

Brian Hess, manager of the $998m Legg Mason Brandywine Global Fixed Income fund, has upped exposure to Mexican and South African government debt to drive returns in volatile markets.

Moody's has cut Italy's credit rating by two notches to Baa2 as the euro area's third biggest economy faces higher funding costs and contagion risk from Greece and Spain.

China's economy grew at its slowest pace since 2009 in Q2, with GDP up 7.6% on the same period last year.

Some 80% of US stocks' excess returns since 1994 have been earned in the 24 hours prior to FOMC statements, according to the New York Federal Reserve.

Warren Buffett has spoken out about the rapidly deteriorating state of the European economy, warning that there is no obvious answer to the region's problems.