News

UK funds could share a $5bn windfall after the European Court of Justice ruled foreign investment funds that invest in French companies should not be liable for a discriminatory withholding tax on dividends.

The Bank of England's Monetary Policy Committee has resisted calls for further quantitative easing and has left its programme of stimulus unchanged, while holding rates.

Investors in Europe are treading carefully today after some steep losses across equity markets so far this week, with Spain's pledge to support its banking system putting a stop to selling for now.

Hargreaves Lansdown has said it "intends" to remain independent after the Retail Distribution Review (RDR).

Aviva Investors has appointed Paul Abberley as interim chief executive following the departure of Alain Dromer.

Legal & General (L&G) has named group chief financial officer Nigel Wilson as its new chief executive, replacing the outgoing Tim Breedon, who departs from the role next month.

Renowned hedge fund manager Hugh Hendry is urging investors to short US treasuries should yields sink further from their current lows, as it would be a "lifetime buying opportunity for risk assets".

Markets in the US and Asia fell yesterday after a tough day for European shares which left many indices sharply lower.

Spain has taken a 45% stake in Bankia, the country's third largest bank, following another day of sharp falls in the country's equity markets and gains in its bond yields.

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