News

OBSR has upgraded both the £1.2bn M&G Optimal Income and the £2.8bn Fidelity Special Situations funds to AA ratings.

European markets have climbed steadily this morning with the FTSE 100 up 1.2% and the FTSE Eurofirst 1.1% higher.

Unemployment in the UK continued to rise in the three months to September, although the 30,000 increase was the smallest since May 2008.

Sales of UK life and pensions have slumped across the board as consumers limit insurance and savings to focus dwindling disposable incomes on debt.

Two Bear Stearns hedge fund managers have been found not guilty of fraud.

Robin Geffen's Neptune added more shares in Cadbury yesterday after labeling the latest Kraft approach as derisory.

Neptune's Alex Breese has been cutting a number of cyclical stocks in his Special Situations fund to buy into recent market laggards.

The Employees Retirement System of the City of New Orleans (NOERS) has sued Warren Buffett's Berkshire Hathaway and Burlington Northern Santa Fe (BNSF) alleging Berkshire's planned acquisition of BNSF discriminated other investors.

Schroders has posted a £3.7bn net retail inflow in the third quarter of the year, as the asset manager's strong 2009 continues.

Jubilee Financial Products has cancelled the Early Redemption Plan Issue 4 after it failed to meet with new FSA guidelines.