News

Prudential's 1.5% rise in early trading, following better than expected first-half profits, helped the FTSE edge 0.3% higher to 5257.79 points.

Prudential CEO Tidjane Thiam says he "very much regrets" the collapse of the insurer's giant $35.5bn AIA takeover, which has cost the company £377m.

Former member of the Monetary Policy Committee (MPC) David Blanchflower says the UK will need "a lot more" quantitative easing (QE) to avoid a double dip recession.

M&G posted a 32% jump in net retail inflows over the second quarter, with the asset manager recording £1.92bn of net sales.

Prudential has posted a 41% jump in operating profit to £968m in the first half, well ahead of expectations.

The FTSE 100 has slid more than 2% lower this afternoon after US markets suffered even sharper losses in early Wednesday trading.

RWC Partners is poised to unveil a trio of funds for star recruits Nick Purves and Ian Lance, including a covered call strategy similar to the managers' former Schroder Income Maximiser vehicle.

The Bank of England has revised down its forecast for UK economic growth and expects inflation to remain above the 2% target until the end of next year.

Bank of England governor Mervyn King says growth is going to be weaker than previously expected and inflation is likely to above the 2% target until the end of 2011.

Fund of funds recorded their highest ever quarterly net retail sales in Q2 at £2.3bn, according to the IMA.