Anthony Bolton's Fidelity Special Situations successor Sanjeev Shah has increased exposure to banking stocks despite the sector playing a significant role in the worst ever year for the FTSE 100.

Standard Life chief executive Sandy Crombie says he is "delighted and very proud" to be knighted in the New Year Honours List.

The FSA has re-appointed Tim Herrington as chairman of its Regulatory Decisions Committee (RDC).

Aberdeen Asset Management has acquired the majority of Credit Suisse's fund management business in an all-share deal worth up to £250m.

China's stock market became the worst major performing index in the world for 2008, ending the year down 65%, The Times reports.

In the final part of IFAonline's review of the year, the Pre-Budget Report and Retail Distribution Review cause a stir in financial services as Barack Obama wins the US Presidential election.

The FTSE 100 looks set to record its worst ever annual performance despite stocks staging a late recovery in the first two trading days this week.

The FSA is running a TCF training seminar for compliance consultants in Norwich, giving them the chance to know what the regulator expects from firms.

Cash proved to be the most popular safe haven from the freefalling markets this year, with two cash vehicles among the top five highest selling investments on Fidelity FundsNetwork in 2008.

The FTSE 100 shot up sharply for the second straight day following the Christmas break, adding 39.76 points, or 0.92%, to 4,359.11 by 9am.