News

The nationalisation and resale of Northern Rock will rake in a profit of up to £11bn for UK taxpayers, it was announced today.

The European Central Bank has suspended the use of Greek government bonds as collateral for institutions trying to access central bank loans, in the latest twist in the unfolding crisis.

German parliament yesterday approved a €130bn euro rescue package for Greece, while S&P downgraded Greece's credit rating to ‘SD' or selective default.

Fidelity Worldwide Investment has expanded its bond fund range with the launch of a global high yield fund for managers Ian Spreadbury and Peter Khan.

Nicola Horlick, chief executive of Bramdean Asset Management, has joined forces with two 3i alumni to launch a new investment business.

EEA plans to reopen its £600m life settlements fund "as soon as possible", once the outcome of an FSA consultation on the sale of traded life policy investments (TPLIs) has been agreed.

The £ Corporate Bond sector topped the IMA's best-seller list last month with net retail sales of £303m, the highest level seen since August 2010.

US markets slid into negative territory shortly after the open, while European indices fell further after a day in the red, ahead of a crucial vote on Greece.

Ardevora's Jeremy Lang has predicted global markets are halfway through a 12-week equity rally, and his team have wound back long US consumer positions as a result.

The FSA has finalised its guidance on when firms can (and can not) receive commission post-Retail Distribution Review (RDR).