News

Yields on Greek 10-year government bonds have rocketed to record levels as fears rise the nation could default on its debt repayments, the FT reports.

The board of Alliance Trust said it is now hunting for a new chairman after Lesley Knox announced she is stepping down.

The acting managing director of the IMF said the institution will continue to function effectively following the resignation of Dominique Strauss-Kahn.

London shares moved higher in early trading, reacting to overnight gains in the US which benefitted from the successful IPO of social networking powerhouse LinkedIn.

Prudential's chairman Harvey McGrath has insisted he will continue in his role despite a mini revolt at the company's AGM yesterday.

BlackRock's Robin Batchelor is running a 30% underweight to oil majors in his £4.32bn World Energy fund, expecting margins will be squeezed as demand for oil intensifies and exploration costs rise.

Investors are missing opportunities within the UK domestic space by focusing too much on overseas earnings, Ignis Cartesian's Jeremy Hall has warned.

Cazenove Capital Management saw pre-tax profits dip £9.5m last year on the back of a 96% fall in hedge fund performance fees, despite a 30% increase in revenue from its wealth management arm.

Investec Asset Management has reported record inflows for the year to end of March 2011, taking assets under management to a new high of £59bn.

European markets climbed this morning on news IMF head Dominique Strauss-Kahn had resigned following sex crime allegations.