News

Royal Bank of Scotland (RBS) has appointed Lazard to manage an auction of parts of its investment bank in a move which may lead to as many as 10,000 job cuts.

Hungarian bond yields soared above 10% yesterday after the government cancelled a bond swap auction, increasing fears the country will be the first in the EU to default on its debt.

International investors are buying record amounts of UK government bonds as the Bank of England's £75bn QE programme spurs demand, with the yield on the 10-year gilt hitting a new record low.

The Swiss National Bank (SNB) has been forced to publish its central bankers' code of ethics after the governor's wife became embroiled in a franc swap scandal.

The IMA has re-launched its Managed sectors with new names and definitions, apart from the Mixed Investment 0-35% Shares sector which has been delayed.

Switzerland's central bank is embroiled in a political storm after it was revealed the wife of the governor sold 500,000 Swiss francs shortly before the authorities intervened to cap the value of the currency.

TAX

Managers of the Guinness Global Energy fund have warned of an oil price spike to $150 per barrel if Iran were to carry out its threat of closing the Strait of Hormuz and blocking 15% of global oil exports.

Which markets fared best during a tumultuous year?

Alliance Trust has alerted the Financial Services Authority (FSA) after a number of its shareholders received bogus telephone calls purporting to buy shares at double the market value.