The pound has risen to $1.70 as it hits a seven month high against the dollar.

The Dow Jones has soared to its highest point in nearly five months this morning following news General Motors has filed for Chapter 11 bankruptcy protection.

The pound has risen to $1.70 as it hits a seven month high against the dollar.

Paper-based IFA firms are defending their approach after a technology provider described as "worrying" the news up to 15% of advisers are using only the most basic back-office software.

IFAs believe offshore centres such as the Channel Islands, Isle of Man and Ireland will be some of the favourite locations chosen by financial services companies looking to escape London.

Barclays Wealth is reissuing its Emerging Markets Optimiser plan after the original product significantly outperformed its underlying fund over its first year.

Gartmore has applied for authorisation to rename its Corporate Bond fund the Fixed Interest fund following the acquisition of John Anderson's Corporate Bond vehicle.

Perspective Financial Group, a consolidation vehicle for IFA firms, has acquired Multiplex Financial Trustees, the seventh practice to be brought under the Perspective umbrella.

BlackRock has suffered the second manager departure in its emerging markets team in about a month, with Plamen Monovski leaving the company.

The FSA is proposing to extend its current disclosure regime for the short selling of UK financial stocks as it continues to draw up longer-term rules.