Interest rates in the UK could rise as early as August in response to a tightening labour market, according to Monetary Policy Committee member Martin Weale.

The Caledonia investment trust has agreed to acquire a 94% stake in Seven Investment Management in a deal valuing the firm at £100m.

Sanlam Private Wealth has hired Distribution Technology's Rob McDonnell as head of business development.

Legal & General is understood to be considering a sale of its Cofunds platform, just over two years after it sealed a deal to take full ownership.

The Investment Association (IA) has reopened discussions with members over how to reorganise its sector classification system after an initial consultation proved inconclusive.

Some of the UK's largest asset management firms are preparing to quit their London bases if the country votes to leave the European Union, according to reports.

Schroders has expanded its range with the launch of an emerging markets multi-asset income fund.

Neil Woodford has made a new investment in AJ Bell via a fundraising round which ensures the Invesco Perpetual-backed platform will remain a private company.

Tesco has said it "sincerely regrets" the accounting error which overstated profits by £263m and is forecasting volatile times ahead for the firm.

Richard Woolnough, manager of the £24bn M&G Optimal Income fund, says he is at a loss to understand why the US is holding off on raising interest rates.