News

Spain has announced plans to cut its budget by €27bn in 2012 as part of one of the toughest austerity drives in history.

Royal London Asset Management's Martin Cholwill is backing Hargreaves Lansdown in the view worries over impact of RDR on the firm are overdone.

Polar Capital is offering a special share class to investors in William Calvert's $33m (£21m) Emerging Markets Income fund.

Philip Rodrigs is to take over as manager of the Investec UK Alpha fund as the group expands the scope of his mandate.

Nigel Thomas, manager of the £3.2bn AXA Framlington UK Select Opportunities fund, has sold out of his position in supermarket chain Tesco for fear of ongoing problems in its UK business.

MAM Funds is preparing to launch a global multi-asset income product for Martin Gray and James Sullivan.

Euro finance ministers are considering increasing the size of the eurozone's rescue funds which were set up to bail out indebted nations.

BlackRock has promoted Alex Hoctor-Duncan to the newly created role of head of retail for Europe, Africa and the Middle East (EMEA), while Maarten Slendebroek, responsible for international retail, is leaving next month after 18 years with the group

Credit ratings agency Fitch has confirmed the European Union's long-term issuer default ratings at AAA.

High-net-worth clients on the hunt for tax efficient savings vehicles following the Budget clampdown on maximum investment plans (MIPs) are likely to turn to enterprise investment schemes (EIS) and venture capital trusts (VCTs), the Prudential has predicted....