News

Banks led the FTSE to an early gain in Thursday trade following reports Bank of America (BoA) is poised to repay its $45bn US Government bailout.

Barclays is set to award its 22,000 investment bankers pay rises of up to 150% in an effort to beat Government moves to clamp down on multi-million-pound bonuses.

Midas Capital is set to offload its iimia Wealth Management division to Jardine Lloyd Thompson for £7.25m.

Old Broad Street Research has awarded four funds a new A rating.

The board of the Premier Energy & Water investment trust has elected to extend the vehicle's life beyond its original 31 December 2010 wind-up date.

Corporate bonds remain popular with investors according to FundsNetwork, despite IMA figures showing net retail outflows for the sector of £11.8m in October.

Stephen Message has assumed control of the £37m Old Mutual Equity Income and £25m Extra Income funds with immediate effect, replacing Michael Gifford.

Fidelity European fund manager Tim McCarron will depart the group early next year to take time away from the industry.

BlackRock has completed its merger with Barclays Global Investors.

A sharp 1% rise for the Dow Jones in early trading has extended gains for the FTSE 100 this afternoon, as fears over Dubai debt exposures continued to wane.