Morningstar has changed its methodology for rating closed-ended funds, with the aim of making it easier for investors to compare risk-adjusted performance against open-ended equivalents.

Wealth manager Ashcourt Rowan is to receive an £8.5m cash injection designed to strengthen the company's balance sheet and help it realise its ambitions in the financial advice space.

3pm update: European markets have bounced back from earlier falls following the release of positive economic data from the US.

The Prime Minister David Cameron said the eurozone debt crisis presents an opportunity to reform the European Union and for powers to "ebb back" from Brussels to Westminster.

Her Majesty's Revenue & Customs (HMRC) is considering setting up online accounts for individual PAYE taxpayers and introducing annual tax statements as part of efforts to make the UK tax system easier to understand.

Australian software giant IRESS has launched in the UK by securing a long-term deal to provide front and back-office technology solutions to Sesame Bankhall Group.

European markets rallied late on Friday as Italy approved new austerity measures, a move which is set to precede the resignation of Prime Minister Silvio Berlusconi.

The Financial Services Compensation Scheme (FSCS) has begun reimbursing firms some or all of their share of a £326m interim levy after they successfully applied for a refund.

Business leaders will today make a fresh plea to George Osborne to scrap the 50p rate of income tax and increase personal allowances to protect the British economy from the worst of the eurozone crisis.

Film tax relief, the Government's targeted tax break for the British film industry, has been extended until the end of December 2015.