News

America's largest stock markets reported very light trading volumes on Monday as a flurry of M&A did little to reassure investors of the strength of the global recovery.

The Tories faced renewed questions over their links to rich tycoons last night after accepting a £500,000 donation from a City boss who revels in his comparison to a notorious Hollywood villain.

Jupiter went into the black for the first half of 2010 with profits before tax of £14.6m compared to a loss of £6.5m for the same period last year.

Cazenove has criticised the IMA for not bringing "vital clarity" for investors after the trade body decided against making changes to its Absolute Return sector for at least another 12 months.

Investec Asset Management, which runs more than $5.3bn in active currency funds, is retaining its short position on the Australian dollar as the country faces its first hung parliament since the Second World War.

Baillie Gifford's Gerald Smith has sold his stake in the group's Pacific fund, preferring to invest directly in China.

A number of the UK's largest banks have warned the proposed changes to the country's regulatory system - including the scrapping of the FSA - will leave too much power in the hands of small group.

The FTSE 100 opened up 0.18% or 9.37 points to 5,204.65 boosted by bid activity in the financial sector.

Interest rates could rise substantially to 8% within two years to stave off soaring inflation, new research suggests.

HSBC is in discussions with Old Mutual over acquiring a 70% stake in South African bank Nedbank.