News

British taxpayers have wasted £88.6bn in tax relief over the last decade, and will waste a further £12.6bn in 2012 alone, a new report suggests.

The UK's failed lenders, Northern Rock and Bradford & Bingley, today reported total profit for 2011 had surged 145% to almost £1.1bn.

PIMCO's Bill Gross has criticised the decision that Greece's debt restructuring should not spark a payout on credit default swaps.

Eurozone members have delayed the approval of more than half of the €130bn loan for Greece, raising fears the troubled economy will officially default.

Crude oil prices hit a 43-month high on Thursday following reports a Saudi Arabian pipeline had exploded.

Equity markets globally rose overnight, mimicking the trend seen across Europe yesterday, as investors cheered more positive data from the US.

Martin Currie has launched a European Equity Income fund for Ross Watson after overhauling its existing European fund.

Asset managers and business leaders including Neil Woodford and Terry Leahy have criticised short-termism among UK investors and warned it is a threat to equity markets.

Standard Life Investments' Harry Nimmo has stepped down from running the Scottish Widows HIFML UK Smaller Companies Alpha fund as the group moves the management in-house.

River and Mercantile, the long-only specialist boutique, has joined a host of larger fund groups launching low-cost share classes ahead of RDR after unveiling shares with commission stripped out.