News

Bailed-out Lloyds Banking Group has made a £3.2bn provision for the cost of mis-selling payment protection insurance (PPI), driving the bank to a loss in Q1.

Britain's economic growth will fall significantly short of official forecasts as government cuts take their toll, according to a leading think-tank.

Schroders saw its share price fall more than 5% on the release of its first-quarter results this morning.

The FTSE 100 fell below the 6,000 mark mid-afternoon as weaker than expected US jobs data combined with a sell-off in commodities to weigh on shares.

Asset managers may have to undertake a "root and branch" reassessment of business models amid a wave of European regulation set to trigger "huge upheaval", warns State Street.

JO Hambro Capital Management has acquired a Singapore-based boutique with the view to launch two Asian equity retail funds by late September, subject to regulatory approval.

Threadneedle's Cormac Weldon has cut his GDP forecast for the US this year as soaring fuel costs threaten to cripple consumers.

Legal & General Investment Management (LGIM) has grown its assets 8% in the first quarter after achieving gross new business of £11bn.

PIMCO's Bill Gross has urged investors to focus on emerging market debt and shun US government bonds amid low rates and rising inflation which have left treasuries looking "overvalued for decades".

BlackRock and Fidelity are both backing commodities giant Glencore's IPO, according to reports.