News

J.P. Morgan's Nick Gartside has revised his economic outlook to include a 15% chance of stagflation, as the UK posts 4.4% inflation for February.

The pound reached a 14-month high today while gilts fell, after data revealed UK inflation soared to 4.4% in February.

M&G has appointed James Tomlins from Cazenove Capital Management to join its fixed income team on 20 June.

Inflation hit 4.4% in February, up from 4% in January, according to the Office for National Statistics (ONS) - heaping more pressure on the Bank of England to hike interest rates.

The Chancellor will use Wednesday's Budget to announce the biggest clampdown on tax avoidance since 2004, raising twice as much as the £500m a year predicted when the initiative was launched last December.

The "wrong kind of inflation" will mean the government has to borrow significantly more over the medium term than planned, George Osborne will be forced to admit in the Budget.

UK annual inflation is set to hit 4.2% for February, more than double the Bank of England's target, forecast economists in an IFS report.

European stock markets are subdued in early trading and have been unable to mirror the overnight gains made in Asia and the US.

Henderson shareholders have voted overwhelmingly in favour of the acquisition of Gartmore, with 99.97% giving the go-ahead.

Gary Chan has joined Axa Investment Managers as a portfolio manager within Julian Thompson's Axa Framlington emerging markets team.