Bill Miller, chairman and chief investment officer of Legg Mason Capital Management, is to step down and cede his multi-billion dollar $4.7bn Value Trust to Sam Peters.

Consumer Prices Index inflation could fall to 3% by the end of Q1 2012 as the impact of the VAT hike and high oil prices falls away.

M&G bond fund manager Mike Riddell has warned the crisis in Europe has taken a turn for the worse after bond yields in core European countries rocketed yesterday.

Ratings agency Standard & Poor's (S&P) was last night at the centre of a storm after it accidentally downgraded France's AAA rating.

Patrick Evershed has claimed investors in New Star's Property fund lost millions of pounds after the group continued to advertise the fund despite warnings from its property team that prices were over-inflated.

Markets across Europe recovered from early losses on Thursday despite a new warning from the EU Commission that the eurozone may fall into recession next year.

Prudential has launched four risk managed portfolios for investors in its £70bn life fund as it moves to attract advisers post RDR.

Patrick Evershed has claimed his former boss John Duffield bullied and humiliated New Star staff including withdrawing an offer of sweets from managers having a bad period of performance, according to his witness statement lodged with an employment tribunal...

Former New Star CIO Theo Zemek claimed she was bullied by firm founder John Duffield, echoing allegations made by her ex-colleague Patrick Evershed, according to the lawyer acting for Evershed.

The FTSE 100 dropped sharply in morning trading as investors fretted over the future of Italy following a spike in the country's bond yields to record levels.