News

The UK will come out of recession in the second half of the year, bouncing back from negative growth in the first two quarters.

Funds under management at wealth manager St James's Place have hit a record £31bn.

Legal & General (L&G) is anticipating a drop-off in sales through financial advisers over the coming months and into early 2013 as firms concentrate on developing their business models for retail distribution review (RDR) implementation.

Schroders reported a 6.6% rise in assets under management (AUM) in the first quarter of the year, but said pre-tax profits are down year-on-year.

Investors in Warren Buffett's firm Berkshire Hathaway may have been left disappointed with returns over the past three years as the company has underperformed the S&P 500 by more than 25%.

George Osborne has accused the European Commission of offering concessions to French and German banks as he refused to sign revised clauses of the Basel III agreement.

Bank of England governor Mervyn King has admitted the central bank failed to warn of the risks banks were taking ahead of the crisis in 2008.

Schroders has bolstered its fixed income team with the appointment of four emerging market debt managers.

Official figures showing UK corporates' share of GDP is at its lowest level since 1984 cast doubt on claims that UK plc will drive the economic recovery, Citigroup analysts have suggested.

The Association of Investment Companies (AIC) is urging members to stop publishing TERs, instead recommending closed-ended funds disclose ‘Ongoing Charges' to give investors a greater level of clarity.