News

HSBC, Barclays and RBS are among 15 Wall Street banks accused by a US investment firm of mis-selling a total of $2.4bn (£1.6bn) in mortgage-backed securities, reports the Telegraph.

BP faced fresh takeover speculation on the weekend after the Obama administration reportedly told ExxonMobil it would not stand in the way of a takeover bid for its troubled British rival.

Chancellor George Osborne is considering dropping the Pre-Budget Report from the coalition Government's roster of economic events.

Schroders' Richard Buxton will snub the high-profile Ocado IPO, saying the 200p to 275p per share price is far too excessive.

Head of iShares International, Rory Tobin, has left the firm and Mike Latham has been appointed global head of iShares.

Miners and banks are driving the FTSE upwards this morning, as London's leading shares continue to rebound on the back of Wall Street's stellar showing yesterday.

FUND MANAGER OF THE YEAR AWARDS - THE WINNERS

M&G scooped three gongs at the 15th annual Investment Week Fund Manager of the Year awards last night, including the prestigious Global Group of the Year title.

A banking revolution is being plotted by two City grandees who want to bring 'traditional' lending back to Britain's high streets.

The FTSE opened higher at 5123.14, up 17.69 points (0.35%), helped by mining companies rebounding from recent losses.