The double-dip recession which has plagued the UK for the first half of 2012 should officially end later this week, economists are predicting, as the impact of the Olympics and the Jubilee kick-in.

Platform giant Skandia's sales force is understood to be facing a significant reduction in numbers after the group - now known as Old Mutual Wealth - revealed there would be 200 jobs lost across the business.

Barclays' wealth arm is in talks with the regulator about charging asset managers administration fees when their funds are recommended for private client portfolios.

Direct-to-consumer platform giant Hargreaves Lansdown has called in external consultants to review its proposition and assess what technology could be added in future to enhance the service.

The New York Attorney General has sued J.P.Morgan Chase for allegedly defrauding investors who lost billions of dollars on mortgage-backed securities sold by Bear Stearns.

Prudential has dropped funds including Richard Buxton's Schroder UK Alpha Plus fund from its Dynamic Portfolio range in a move to diversify UK equity risk.

John Ions, chief executive of Liontrust, has warned asset managers they face a threat from the growing power of distributors as Retail Distribution Review implementation approaches.

Walker Crips Investment Management has launched a discretionary portfolio service aimed at advisers in a move to expand its business.

Asian and US markets closed lower overnight as the latest economic data emerging from leading economies around the world continued to worry investors.

Henderson has launched two low-cost income funds for Bill McQuaker and the multi-asset team.