News

George Osborne will announce a bank tax on Tuesday aiming to raise £3bn amid criticism the levy could hit UK competitivenesss.

Anthony Bolton's Fidelity China Special Situations trust has issued a further 11 million shares, primarily to assist trackers wishing to buy the vehicle following its admission to the FTSE 250.

Jupiter shares have opened at 190.25p on the first day of full trading on the London Stock Exchange, a 15% increase on its offer price.

Fidelity International, one of the largest investors in Prudential, is calling for the resignation of chairman Harvey McGrath.

Chancellor George Osborne warned yesterday tough action to cut the deficit is "unavoidable" to ensure Britain is not on the "road to ruin".

Invesco Perpetual head of investments Neil Woodford says it is 'reckless' to believe BP's $20bn compensation package will mark the end of the oil giant's worries.

BP is trying to raise $50bn to cover the cost of the Gulf of Mexico disaster, while the oil giant is also preparing to sue a partner in the Deepwater Horizon rig.

The consumer price index (CPI) of inflation eased in May to 3.4%, down from 3.7% in April, according to the Office for National Statistics (ONS).

Legg Mason's Mary Chris Gay has diversified the financials holdings in the $4.8bn (£3.2bn) Value trust she runs with Bill Miller after the fund's exposure to banks hit it hard last year.

Sarasin managing partner Guy Monson has been orientating to take advantage of the weakening euro in his global multi-asset fund.