First State Investments will no longer accept new platform business for its £5.6bn Asia Pacific Leaders and offshore Global Emerging Markets Select funds in an effort to limit inflows.
The unbundling of platform charges will result in greater price competition between fund providers, the Financial Services Authority (FSA) said today.
The European Commission is set to lay out new plans today for a unified approach to tackling tax evasion across member states, including setting up a dedicated team of auditors.
Cyprus has told European authorities it intends to apply for a bailout, making the country the fifth eurozone country to request international aid.
Moody's Investors Service has downgraded the credit rating on 28 Spanish banks, including Banco Santander, less than a month after cutting the nation's sovereign rating.
UK bank shares have jumped following last night's announcement of a £100bn stimulus package for the UK economy.
The Bank of England (BoE) is to launch new stimulus packages in a bid to get the economy moving again.