News

Britain's fall back into recession will drag on until June at the earliest and condemn the country to another lost year, economists have warned.

MAM Funds' Martin Gray (pictured) and James Sullivan, managers of the Miton Special Situations and Strategic portfolios, analyse key events in economies and markets in the first quarter of the year, and the outlook for a range of asset classes

Britain's most expensive stamp, a 'plate 77 Penny Red', has been sold for £550,000 to a private client seeking portfolio diversification.

Old Mutual is unifying its two UK asset management businesses, Old Mutual Asset Managers UK (OMAM UK) and Skandia Investment Group (SIG), into a single business with the view to rebrand under one name.

Chancellor George Osborne has ruled out easing his debt reduction plan despite yesterday's news the UK has plunged back into recession.

Royal Bank of Scotland could see £20bn wiped off its value if planned banking reforms go ahead, according to its CEO.

BlackRock's Richard Plackett, manager of the £1.5bn UK Special Situations fund, has been rotating out of large-cap defensive stocks and adding to small and mid caps, reflecting his more optimistic outlook on the world economy.

Federal Reserve chairman Ben Bernanke has signalled the end of QE in the US, saying it would be "reckless" to pump further stimulus into the economy unless it sees a sharp deterioration.

Drugs giant GlaxoSmithKline saw a modest increase in group revenue in the first quarter of 2012 as growth in the US, emerging markets, Asia Pacific and Japan offset declines in Europe.

Pharmaceuticals giant AstraZeneca said profits fell by more than a third in the first quarter after a number of patents ran out and it was hit by tough market conditions.