Mark Carney has seen off fierce competition to land the job of Bank of England governor, replacing outgoing chief Sir Mervyn King next summer.

F&C has appointed Ross Duncton to spearhead its new direct to consumer push, part of chairman Edward Bramson's strategic review of the business.

The minutes of the last Monetary Policy Committee meeting held on 7 and 8 November reveal David Miles was the only member calling for a boost to the Bank of England's quantitative easing programme.

The eurozone has officially entered recession, the latest GDP data shows, as growth in core economies was offset by a surprisingly weak figure from the Netherlands.

US indices slumped overnight as prospect of politicians at loggerheads over the fiscal cliff continued to worry investors.

The Dow shed more than 300 points in yesterday's session as investors questioned re-elected President Barack Obama's commitment to dealing with the US fiscal cliff.

The cost of its contribution to the Financial Services Compensation Scheme has cost Charles Stanley 40% of its pre-tax profit in the last half-year.

Schroders has reported a fall in pre-tax profits for the year to September despite a pick-up in its intermediary business.

Royal Bank of Scotland has posted a pre-tax loss of £1.2bn in the third quarter, as it sets aside a further £400m to cover claims related to the mis-selling of payment protection insurance (PPI).

Investors appear to be returning to risk assets after net retail sales of equities outstripped fixed income funds for the first time in a year, according to the latest figures from the Investment Management Association (IMA).