News

The Monetary Policy Committee (MPC) was again divided six-three against a rate rise earlier this month, minutes from the April meeting reveal.

Tim Geithner, the US Treasury secretary, shrugged off warnings from a leading ratings agency about the US public finances as he sought to reassure Wall Street he world's largest economy would be able to maintain its highly-prized AAA rating.

The final cost to BP from the Gulf of Mexico oil spill disaster could reach $60bn (£37bn), according to fresh analysis from ratings agency Moody's.

Insight's multi-managers have opened a new position in the Neuberger Berman Global Floating Rate Income trust, the largest investment trust IPO the market has seen this year.

Newton's star income manager Tineke Frikkee has moved overweight BP, almost tripling her holding in the oil major in the £2.7bn Higher Income fund since February.

BP ONE YEAR ON

Santander has added two portfolios to its range, a multi-manager offering focusing on global emerging market equities, and a single manager income portfolio.

Goldman Sachs' profits fell 72% in the first quarter as the bank's trading revenue declined and earnings were hit by a $1.64bn dividend payment to Warren Buffett's Berkshire Hathaway.

Mark Page has quit LVAM handing the £227m LV= European ex-UK Growth fund to Richard Falle until a new hire is made.

Global markets have marginally recovered after yesterday's surprise Standard & Poor's downgrade of the outlook for US debt caused widespread falls.