Former Close Asset Management executives have launched a property and tax planning investment management business called TIME Investments.

The UK's unemployment rate showed a surprise fall from 8.3% to 8.2% in the first quarter, according to the latest figures from the Office for National Statistics.

Allianz Global Investors has today launched a range of four risk-graded portfolios, the Allianz RiskMaster funds.

The eurozone reported zero growth in the first quarter, beating forecasts of a 0.2% contraction and narrowly escaping a technical recession.

The final part of Edward Bramson's strategic review into F&C Asset Management has revealed plans to expand its range of investment trusts and to market F&C multi-manager funds direct to consumers.

Former Barclays chief John Varley is no longer in the running for the top job at the Bank of England, Investment Week understands.

Four major fund houses have joined forces with technology provider IFDS to white-label enhanced online propositions for their existing direct customers ahead of RDR.

Shares in JPMorgan Chase fell almost 7% in after hours trading on Wall Street on Thursday after it revealed a surprise $2bn derivatives trading loss by a London trader.

The Queen has unveiled 19 new pieces of legislation in her annual speech to open Parliament, focusing on boosting the UK economy with a raft of business-friendly measures.

Part-nationalised lender Royal Bank of Scotland (RBS) is to repay the final tranche of the £163bn in emergency loans during the financial crisis and will resume paying dividends on its preference shares.