News

Santander, Spain's biggest bank, is the sole remaining bidder for the 318 Williams & Glynn branches being offloaded by Royal Bank of Scotland.

Besieged BP chief Tony Hayward yesterday declared his "deep sorrow" over the Gulf of Mexico oil spill after US Congressman accused his company of "astonishing complacency" and of having a "cavalier attitude to risk".

The IMA has received applications from a further 130 offshore funds to be listed in its sectors.

Peter Hargreaves, the founder and CEO of Hargreaves Lansdown, says former Prime Minister Margaret Thatcher was a "million times" better for businesses than current incumbent David Cameron.

F&C's Fatima Luis has introduced BP bonds into her £237m Strategic Bond fund, believing the debt was trading at excessively distressed levels.

Chancellor George Osborne says troubled oil giant BP remains a "very strong company" and has the resources to cover the Gulf of Mexico oil spill costs.

The FTSE 100 opened higher as investors responded positively to news BP has scrapped its dividend until 2011 and agreed to fund a $20bn oil spill compensation package.

Collins Stewart has acquired Surrey-based IFA and private client wealth manager Andersen Charnley for an initial £5m.

The credit market is pricing in a 36% chance BP will default within five years as the oil giant deals with the fallout from the Gulf of Mexico disaster.

BP will not pay dividends for the remainder of the year after being forced to put $20bn (£13.5bn) into a compensation fund for victims of the Gulf of Mexico oil spill.