The FTSE closed at its lowest level in more than a week Wednesday following falls in energy firms and food retailers.

The Government says it will explore ways of encouraging a more 'sustainable, transparent and standardised' mortgage-backed securities market in the UK.

Stephen Message has assumed control of the £37m Old Mutual Equity Income and £25m Extra Income funds with immediate effect, replacing Michael Gifford.

J.P. Morgan Asset Management, BlackRock, Fortis, Friends Provident and Santander Asset Management are among this year's 16 Gold Standard Award winners.

Morgan Stanley has launched a suite of six-year structured products.

Now that the Civil Service has announced that it will scrap its retirement age from April 2010, we have a clear indication of intent for the Government's review of the Default Retirement Age (DRA), due early next year.

Skandia has appointed Cohen & Steers to manage its $300m Reits Global Property Securities fund in place of La Salle Investment Management, which had run the fund since its launch in 2005.

Former Cofunds director, Mark Campbell, has passed away after a two year battle with cancer.

Schroders' Richard Buxton believes the RDR could flush-out managers who simply track their index while charging hefty management fees.

OBSR has upgraded both the £1.2bn M&G Optimal Income and the £2.8bn Fidelity Special Situations funds to AA ratings.