News

Markets have remained lower this afternoon as negative reaction to European bank stress tests continue to drag on the FTSE 100.

RBC Wealth Management's head of opportunistic strategy Peter Lucas has joined Rathbone Investment Management as an investment director.

HSBC's José Cuervo has joined Santander Asset Management as global head of Latin American equities.

The management team of New Star's US institutional arm has joined forces with a Canadian asset manager to buy the business from Henderson.

Barack Obama has pleaded with Congress to come up with a compromise to raise the country's debt ceiling and stave off default, reports the FT.

Gold broke the $1,600 barrier in early trading today as markets awaited further developments in the US and eurozone.

Clive Cowdery, the self-made insurance tycoon who gives away much of his wealth, is considering a surprise bid for the 630 bank branches being sold by Lloyds Banking Group.

Worries over the eurozone debt crisis have prompted the Ernst & Young Item Club to cut its forecast for GDP growth this year from 1.8% to 1.4%.

The Treasury Select Committee (TSC) has called for a 12 month delay to the RDR to enable more advisers to reach Level 4, among a series of other concessions, but the FSA has flatly refused any negotiation on a change to its plans.

The industry is split on the merits of the Treasury Select Committee's (TSC) key recommendation to delay the RDR for 12 months until 1 January 2014.