News

European broker CA Cheuvreux has penned an open letter to billionaire US investor Warren Buffett, urging the Sage of Omaha to buy into ‘bottomed out' European equities.

Rathbone Unit Trust Management (RUTM) is planning to launch clean, low-cost share classes priced at 0.75% AMC across its fund range next year.

The Financial Services Authority (FSA) has told UK banks holding the money of investors in a Luxembourg life settlement fund not to allow the cash to be moved.

Bank of America is planning to issue new shares in exchange for existing preferred stock and debt that has lost value during the downturn this year.

Government-controlled US mortgage financier Freddie Mac is seeking a further $6bn from US taxpayers, taking its total bailout to $72.2bn.

The world's biggest bond investor Bill Gross has regained his top spot amongst his peers as investors piled back in to riskier assets.

London and European stock markets edged up as the G20 talks in Cannes continued on Friday, with Royal Bank of Scotland boosting the UK after climbing 5% on its profits update.

Part nationalised bank Royal Bank of Scotland today reported clean operating profits had fallen sharply in the third quarter, while it had also taken a loss on its Greek debt holdings.

Groupon, the online coupon group, raised $700m in its highly anticipated initial public offering on Thursday night, with the pricing at $20 a share valuing the group at $12.65bn.

Bank of England governor Mervyn King said badly managed banks should be left to fold, as he demanded sweeping powers to force financial institutions to be more transparent.