News

Britain's largest banks will present their "living wills" to the FSA next month, ahead of the G20 summit of leading industrialised nations in South Korea.

Stefan Isaacs is taking over from Jim Leaviss as lead manager of the £1bn M&G High Yield Corporate Bond fund from 1 October.

M&G is launching what it believes to be the first inflation-linked corporate bond fund aimed at retail investors in the UK.

The FTSE 100 opened higher, up 0.47% or 25.67 points to 5,453.82, in response to Friday's better than expected US jobs data.

Threadneedle is preparing to launch a UK Absolute Alpha fund for Chris Kinder and Mark Westwood, and plans to close its UK Crescendo hedge fund.

Lazard is launching its growth-orientated Developing Markets equity strategy to UK investors on 30 September.

Gartmore has awarded 3.5% of the company's equity to a group of top staff to encourage them to stay at the group.

Tony Nutt's Jupiter Income trust has seen its payout to investors fall by 9% after the £2.52bn fund was hit by the BP crisis.

Chancellor George Osborne will scrap the Pre-Budget Report this year and replace it with a slimmed-down autumn statement.

British Airways has identified about a dozen potential merger targets as the BA and Iberia tie-up aims to consolidate the global aviation industry.