News

Facebook's value rose to $123bn in grey trading yesterday as it prepares for a $5bn float later this year.

PERFORMANCE

The UK and Europe will both slip into recession in 2012, according to the National Institute for Economic and Social Research (NIESR).

US markets were treading water this afternoon following a cautiously optimistic speech by US Federal Reserve chairman Ben Bernanke.

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Fundsmith founder Terry Smith has criticised the ‘extreme' move by the UK's honours committee to strip former RBS boss Fred Goodwin of his knighthood.

Equities are likely to post gains in 2012 whatever the outcome of the sovereign debt crisis in Europe, according to Richard Peirson, manager of the £347m AXA Framlington Managed Balanced fund.

AXA IM has hired Lyxor Asset Management CEO Laurent Seyer as its global head of investment solutions.

Fund managers will contribute more than £37m to the FSA's total funding requirement for 2012/13, an increase of 32.4% on last year.

A graffiti artist is set to make $200m from the Facebook IPO after he opted for shares instead of a cash payment for his work in the head office seven years ago.