News

Schroders has hired GLG's Core Plus Sterling Bond fund manager Gareth Isaac.

A deal by US lawmakers to raise the country's debt ceiling passed its first hurdle last night but failed to lift shares after dreadful manufacturing data.

Barclays saw its pre-tax profits fall by a third during the first half of the year, with PPI claims and reduced bond trading activity hitting earnings.

Analysts at J.P. Morgan Cazenove have downgraded Anthony Bolton's Fidelity China Special Situations trust due to its "weak" NAV performance since launch.

Liontrust is set to acquire the fund management business of Occam, including its emerging markets and Asia teams in a £3.9m deal.

US markets have reversed earlier gains after manufacturing data raised further doubts about the strength of the economic recovery.

The FSA today said it wants to proceed with its plan, originally mooted in March 2010, to ban payments from fund managers to platforms.

Fidelity's Gary Shaughnessy has criticised the FSA for delaying its decision on a proposed cash rebate ban in today's 'underwhelming' platform paper.

The FSA says more research is needed before it can make the final decision on whether to ban cash rebates.

Europe's largest bank saw shares trading higher early on after reporting a climb in profits for the first half of 2011.