News

French President Nicolas Sarkozy threatened to exit the euro unless German Chancellor Angela Merkel backed the EU's €750bn safety net for the single currency.

US regulator the Securities and Exchange Commission (SEC) has begun proceedings against a former Schroders municipal bonds manager for alleged insider trading.

Goldman Sachs has engaged its finest minds to work out who will win football's biggest tournament in South Africa next month.

HSBC Asset Management is to launch an ETF offering exposure to the S&P 500 Index.

The FTSE suffered a sharp drop in afternoon trading to close more than 3% in the red as concerns over EU debt and another Greece bomb attack rattled markets.

Gartmore saw outflows of £1.2bn following the suspension of star manager Guillaume Rambourg, its first quarter results reveal.

London has failed in a bid to stall voting on a controversial EU plan to tighten regulation on alternative investment funds.

The FTSE was 0.9% or 50.47 points lower in early trading at 5383.26 amid fears Europe's austerity measures will slow the global recovery.

Economists are warning the new coalition Government may have to impose £50bn of tax rises only months into its tenancy, including a hike in VAT.

Goldman Sachs and Morgan Stanley are believed to be among eight US banks facing an investigation into the rating of their mortgage products.