News

The Bank of England will keep interest rates on hold until at least May 2011 as the Government's recent spending cuts weigh on the economic recovery, the British Chambers of Commerce believes.

Former shareholders of Bradford & Bingley should not get any compensation after the troubled lender was divided and sold, an independent valuer says.

BP shares have moved almost 5% higher this afternoon as Libya's top oil official recommended the North African country to buy into the stricken giant.

The Shanghai Composite index slumped to a 15-month low today after data pointed to slowing growth and inflation concerns.

Specialist fund management firm Rudolf Wolff has launched a Central London Commercial Property fund aiming to produce a net annual income of up to 7%.

Aegon's Colin Purdie has joined Aviva as a SRI credit fund manager, taking on the lead management of the Sustainable Future Corporate Bond fund.

The Government could look to offload part of its RBS stake as early as next year as the bank moves to complete an overhaul of its business, chief executive Stephen Hester says.

Neptune has added a new high conviction UK equity fund for analyst Nicola Muirhead.

The FTSE has opened trading in positive territory, but fears of a double-dip recession on the back of disappointing US and Chinese economic data still abound.

Betting against sterling has fallen significantly since the emergency Budget, with hedge funds and speculators closing short positions.