News

Schroders saw pre-tax profits jump in the first half of the year, although net flows into its retail funds fell sharply over the period.

River & Mercantile's Hugh Sergeant said negative investor sentiment is pushing up equity risk premiums to credit crunch levels despite strong balance sheets among UK companies.

PIMCO's Bill Gross has slammed US policymakers for their failure to make a significant dent in the country's $1.5trn deficit, despite reaching an accord on the debt ceiling.

Adrian Frost, manager of the £3.9bn Artemis Income fund, said BP and other major companies should make further asset sales in order to improve their growth prospects.

Global markets are posting heavy losses as further weak economic data from the US deepens fears the country will fall into recession.

Aberdeen's multi-manager team has cut Blackrock's UK Absolute Alpha fund from the Diversified Alpha portfolio after overhauling the underperforming fund.

Leading ratings agencies have re-affirmed the US' AAA-rating following the last gasp deal to approve an increase in its debt ceiling.

Nationalised lender Northern Rock has seen losses narrow in the first six months of the year ahead of an expected return to profit in 2012.

Life insurer Legal & General (L&G) posted better-than-expected first-half results on Wednesday, helped by strong performance from LGIM and its international divisions.

European and Asian stock markets declined sharply in Wednesday trading, mirroring overnight falls in New York, on concerns the US recovery is faltering.