The US Congress is finally close to completing the largest policy reform of the financial sector since the 1930s.

BP has spent $2.35bn (£1.5bn) so far cleaning up the oil slick in the Gulf of Mexico, and has paid out $126m in compensation.

Chancellor George Osborne has clamped down on the UK banking sector with a new tax on profits.

The UK Government's public sector borrowing fell below expectations in May, according to ONS figures released today.

The FTSE 100 opened at 5,132 today and climbed 0.23% higher in early trading, bolstered by beleaguered oil major BP.

Ex-New Star managers Phil Roantree and Stephen Whittaker are to launch an income fund through their new venture, Querns Asset Managers, seeding it with £5m of their own money.

Annual inflation in the Organisation for Economic Co-operation and Development (OECD) area remained stable in April at 2.1%, although food and fuel prices rose.

Cavendish Asset Management has added two UK equity funds to its four-strong product range.

Dubai World has come to a provisional agreement with its lenders to restructure $23.5bn (£16.4bn) of debt.

Ex-Skandia CEO Jamie MacLeod is to join wealth management boutique Berry Asset Management.