News

The European Central Bank has cut interest rates by 25 basis points to 1% and announced new measures to help ease funding pressures.

The Bank of England's Monetary Policy Committee has once again kept interest rates on hold at a record low and left QE unchanged at £275bn.

Aberdeen Asset Management is set to consolidate its multi-manager range, run by co-heads of MM Graham Duce and Aidan Kearney.

The FSA has fined Integrated Financial Arrangements plc, which offers the Transact platform, £3.5m for failings in relation to its protection of client money over an eight-and-a-half year period.

Threadneedle's head of global equities Jeremy Podger has left the company to join Fidelity and run its £1.5bn Global Special Situations fund.

Standard & Poor's has said it may downgrade the European Union's AAA rating and make further cuts to eurozone banks' credit ratings if a review of eurozone countries prompts mass sovereign downgrades.

Pressure was building on David Cameron last night as senior backbench Tory MPs called for the Prime Minister to approve a referendum on a new euro treaty and to wring "clear gains" from a European summit scheduled for Friday.

Banking and asset management giant Investec has exited the FTSE 100 as part of the latest re-shuffle of the UK's leading share index.

Baring Asset Management has hired Matthew Whitbread to work on the multi-asset team in Boston.

Economic growth in the UK will be subdued and output will fail to reach 2008 levels until 2013, according to the National Institute for Economic and Social Research (NIESR).