News

The single currency strengthened against the dollar today as Spain was granted a €100bn EU and IMF bailout to prop up its banking sector.

This year's charity auction for lunch with Warren Buffett closed last week with a winning bid of $3.46m.

China's decision to cut interest rates for the first time since December 2008 has met with a mixed response as investors try to fathom the implications of the move.

Cofunds is negotiating with asset management firms to renew agreements made years ago which could see groups forced to pay extra lump sums to the platform.

Equity fund managers are increasingly looking for growth over value when selecting stocks on European markets, according to Fitch Ratings.

M&G Investments has hired BlackRock's Michelle Scrimgeour as group risk director as Les Scrine retires from the role after almost 30 years of service.

FundsNetwork has fired a warning shot to fund managers, saying any "special deals" struck up with rival platforms will be revealed under the transparency principles underpinning Retail Distribution Review (RDR).

This year's Aberdeen UK Platform Awards will once again recognise advisers, large and small, who have achieved excellence in running a platform-enabled business or practice.

London's FTSE 100 slipped into the red in early trading this morning after Fitch Ratings cut Spain's long-term credit rating and predicted a slump through 2013.

The positive impact of China's rate cut was dampened overnight in Asian and US markets as Ben Bernanke failed to clarify the Fed's policy approach in a speech yesterday.