News

BP has spent $2.35bn (£1.5bn) so far cleaning up the oil slick in the Gulf of Mexico, and has paid out $126m in compensation.

Newton's head of fixed income Paul Brain is concerned about the European Union's system for bailing out struggling countries.

The FTSE 100 index is seen rising on Friday, clawing back some of the previous session's sharp losses.

Europe must focus on growth as well as cutting spending to reduce national deficits, US Treasury Secretary Timothy Geithner says.

Brokerage firm Canaccord Genuity says shareholders should vote against the merger of F&C Commercial Property trust (FCPT) and the UK Commercial Property trust (UKCPT) because it is not in investors' interests.

Cautious Managed was the top-selling sector for ISA investors using FundsNetwork in May, reflecting ongoing market uncertainty.

Income seekers face an even tougher environment following a Bank of England warning that UK banks will have to slash dividends for years to come.

M&G is planning to hand strategist and chief economist Steven Andrew his first lead management role, with the launch of a multi-asset income product.

Goldman Sachs chief economist Jim O'Neill believes the Office for Budget Responsibility is being too cautious with its prediction of 2.6% growth in the UK next year, claiming the economy could in fact expand by more than 3%.

Investment guru Warren Buffett has raised his stake in Tesco to over 3%.