Proposals that will see fund managers break down profits and losses in pounds and pence figures for the first time have been approved by the Financial Reporting Council.

Barclays' profits have fallen in the first quarter with the investment bank suffering almost a 50% drop in profits, according to its quarterly report.

Henderson's Stewart Cazier is to join Old Mutual Wealth, with Paul Craig also joining the firm, after the group agreed a deal to buy up Henderson's remaining stake in Intrinsic's investment company Cirilium.

The Financial Conduct Authority has banned a former UBS trader from regulated financial services due to failings associated with the rogue trader Kweku Mawuli Adoboli.

Schroders' private banking arm has seen net revenues almost double following its acquisition of Cazenove Capital last summer.

Henderson Global Investors has reported net inflows of £3bn in Q1 2014 as it continues to enjoy a turnaround in the fortunes of its retail business.

Scotland's banking sector could suffer an Icelandic-style crisis if the vote for independence is approved, Standard & Poor's has warned.

Policymakers risk the UK economic recovery stalling if they fail to address its "undue reliance" on consumer spending, the British Chambers of Commerce has said.

The European Central Bank will consider quantitative easing among other measures to avoid a long period of low inflation, its president has confirmed.

The government could have reaped more value from the Royal Mail sale it if had been less cautious and better controlled access to shares, the National Audit Office has said.