News

Gold could be the best asset class to own in 2013 if inflation starts to pick up following major stimulus programmes from central banks, Fidelity's global strategist Andrew Wells has said.

The imminent division of the Financial Services Authority (FSA) into two regulatory bodies presents an opportunity to leave the FSA's "damaged reputation" in the past, its chairman, Adair Turner, said today.

Financial advisory group Honister Capital has entered administration after failing to secure professional indemnity insurance (PII) for its member firms.

The FTSE 100 has risen in early trading, building on recent gains, but Barclays' share price remains volatile as investors react to CEO Bob Diamond's resignation.

The resignation of Barclays CEO Bob Diamond does not lessen the possibility of criminal proceedings against those involved, Chancellor George Osborne has warned.

Barclays boss Bob Diamond has resigned from the bank with immediate effect, just one day ahead of a parliamentary hearing into his conduct following the LIBOR scandal.

Katherine Garrett-Cox, CEO and CIO of the £2.5bn Alliance Trust, has argued global growth will remain stagnant next year, as the US faces the strong prospect of slipping back into recession.

Dan Kemp has left his role as partner and fund manager at Saltus Partners, Investment Week understands.

Chancellor George Osborne is to announce an inquiry into UK banking standards, with the Serious Fraud Office (SFO) also considering launching criminal prosecutions over the LIBOR rate-fixing scandal.

Analysts have suggested the fallout from the LIBOR price-fixing scandal may ultimately lead to significant asset disposals or even a break-up of the bank.