Economics / Markets

ASSET ALLOCATORS

National IFA AWD Chase de Vere is to open an office in Chester.

Lloyds Banking Group has sold off a £1bn portfolio of private equity investments as part of its plan to offload non-essential holdings.

Seven major banking groups, including HSBC and Royal Bank of Scotland, have been summoned to appear before US regulators investigating the LIBOR fixing scandal.

Shareholders at the Lighthouse Group have called for a general meeting to remove the current director, David Hickey, and replace him with the previous co-director Allan Rosengren.

The UK's unemployment rate fell in the second quarter of the year, from 8.2% to 8%, although the number of young jobseekers climbed over the period.

The Bank of England's Monetary Policy Committee (MPC) voted unanimously to keep rates on hold and maintain QE at £375bn in August but expressed fears over sterling's continued appreciation.

Standard Chartered has agreed to pay a $340m (£217m) fine to US regulators after it was accused of trying to hide up to $250bn of transactions with Iran.

Greece is seeking a two-year extension to its austerity programme from the European Union and IMF as it struggles to find room for another €11.5bn of spending cuts.

The advisory business that acquired the trail and pipeline commissions of Honister Capital advisers has questioned some of the actions of providers since the deal took place, and pledged it "will not compete" with the IFAs over their clients.