News

The Treasury has confirmed the RDR will not impact upon the ability of firms based in Europe to advise clients in the UK, although it insists the use of passporting to evade regulation will not be permitted.

BlackRock's Evy Hambro has doubled exposure to copper equities in his $16.3bn BGF World Mining fund over the past year, taking his position to nearly 18%.

Texan billionaire Allen Stanford has filed a countersuit against US prosecutors, accusing them of depriving him of his constitutional rights.

Renewed inflation fears and worsening unemployment data in the US dampened markets across the pond and had a knock-on effect on the FTSE 100 before it closed today.

Hedge fund guru George Soros has bought a 3.5% stake in boutique MAM Funds through his company Quantum Partners.

Inflationary pressures are greater than the MPC painted in its latest report and higher interest rates are urgently needed, says the MPC's Andrew Sentance.

Aegon Asset Management is to unveil a multi-asset fund on 1 March aimed specifically at retail investors, targeting a 10% annual return in all market conditions.

The US Federal Reserve has raised its economic growth forecast for the US this year from 3%-3.6% to 3.4%-3.9%.

Rathbones saw an increase in assets under management to £15bn in the year to December 2010, but profits were hit by a £3.6m FSCS levy.

London's leading share index was boosted this morning by a two-year high on Wall Street, following robust earnings reports and positive economic data.