News

The FSA has banned a hedge fund manager and fined him £14,000 for failing to spot attempts by an employee to hide huge losses caused by the collapse of Lehman Brothers.

Investors should have been buying portfolios of gilts, treasuries and bunds, as well as commodities, while avoiding major indices, to maximise returns in 2011.

UK and European stock markets have recovered some of yesterday's losses after news the US has failed to agree a debt reduction plan sent global markets into the red.

Thomas Cook's share price has nosedived in early trading, with its value more than halving, after the group said it had been forced to open talks with banks to shore up its finances.

The Financial Services Authority (FSA) will face questions from Arch cru investors at a hearing on Wednesday on the regulator's role in the downfall of the fund range - and the £54m redress deal - despite not being allowed at the meeting.

BlackRock's Evy Hambro has hinted his £3.3bn Gold and General fund may be set to pay out dividends for the first time in a decade.

The president of the Confederation of British Industry (CBI), Sir Roger Carr, has called for an end to the "demonisation" of banks, energy companies and the defence industry.

Phoenix Group's proposed takeover offer from private equity firm CVC Capital Partners was well received by the market yesterday, with the firm's share price soaring.

Asian stocks fell overnight alongside US indices after a congressional committee in the States charged with reducing the nation's deficit failed on Monday to agree on cuts.

Credit Suisse has warned government bond markets could come under further pressure as the region tackles its worst ever crisis, sending yields on ten year Italian and Spanish bonds spiking above 9%.