News

Charles Stanley, the stockbroking and investment management group, reported pre-tax profits fell 37% to £8.5m for the year ended 31 March 2012.

Moody's has downgraded Spain's credit rating by three notches to Baa3 from A3, just above junk status, and placed it on review for further possible downgrades.

Former BNP Paribas trader Andy Frankenberger has won almost $500,000 at a poker tournament in Las Vegas just two years after turning professional.

Fidelity's Ian Spreadbury has said he is short German interest rate risk in the view that the eventual move towards a 'eurobond' solution will cause yields to rise.

A Conservative peer has drawn parallels between the collapse of Arch cru and the Bernie Madoff scandal, stressing the need for the regulator to do more to protect consumers.

MAM Funds is hoping to as much as double the assets in Gervais Williams' Diverse Income trust through a C-share issue.

Investment boutique Polar Capital reported a growth in profits for the year after attracting over $1bn of net inflows, despite caution over the eurozone debt crisis.

Polarised views over the eurozone are dangerous for investors and increase their risk of getting burned by the markets, said Aberdeen's Aidan Kearney.

Swiss central bank chairman Philipp Hildebrand, who quit over a currency trading scandal, is to join BlackRock as vice chairman in October.

London's leading share index climbed in early trading after a strong session on Wall Street yesterday.