News

BRITAIN'S top financial watchdog has warned the cost of bailing out the banking sector could be as much as £140bn - far higher than Treasury forecasts, reports the Daily Mail.

Jason Mackay, co-head of the UK equity business at GLG Partners, is to leave the group at the end of this year.

Saltus Partners has this morning taken some profits on a number of overseas positions to cash in on sliding sterling.

Pimco chief executive officer Mohamed El-Erian believes the UK has more tools at its disposal to tackle its economic problems than countries like Greece.

Standard & Poor's is considering cutting its rating on Prudential over leverage concerns following its $35.5bn deal to buy AIG's Asian business.

Fund manager GAM grew its assets under management by 15% in 2009 despite suffering heavy redemptions in the first half of the year.

Evercore Pan Asset Capital Management has launched two new portfolios investing primarily in exchange traded funds.

London & Capital has launched a range of risk-graded portfolios available exclusively through Novia.

Miners continue to lead the FTSE 100 into positive territory after rising copper prices led to a strong showing yesterday.

The pound remained under pressure after hitting a ninth-month low against the dollar yesterday as the prospect of a hung Parliament heightened fears of a delay in reducing Britain's public debts.