News

Hedge-fund guru John Paulson, who pocketed about £280m in shorting RBS during the financial crisis, has taken out a $2.2bn long position in Bank of America.

The FTSE 100 soared in early trading thanks in part to better-than-expected results from insurance giant Prudential.

M&G posted a record £4.1bn net retail inflow in the first half of 2009, with more than £3bn placed in the group's range of fixed income funds.

Jupiter's Ariel Bezalel says inflation is not a threat in the UK, believing the Bank of England could continue QE for several more quarters without damaging the gilt market.

The Dow Jones is seeing upward movement as investors await the Fed's interest rate decision due later today.

BNY Mellon Asset Management vice chairman Jon Little has reassured retail investors the group plans to keep its soon-to-be-acquired Insight business "separate and distinct" from its other affiliates.

Threadneedle CIO Sarah Arkle says the UK will not return to traditional growth rates in the near-term despite the unprecedented level of stimulus pumped into the economy.

Skandia Investment Group has awarded Cazenove a second mandate in its UK Strategic Best Ideas fund.

Lloyds' decision to sell Insight Investment to the Bank of New York Mellon for £235m and bring the rest of its asset management business under Swip saw its share price fall 0.3% to 90.72p in early trading today.

Lloyds Banking Group has announced plans to focus and build on its Scottish Widows Investment Partnership (Swip) brand after offloading Insight.