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The Bank of England's Monetary Policy Committee has cut the base rate by 150 points to 3% - by far the biggest cut in the MPC's 11-year history.

Lenders warned homeowners last night that they should not expect cheaper mortgage repayments even if the Bank of England cuts interest rates today, according to The Times .

Jersey's fund servicing industry has grown by 160% over the last five years, according to Lipper figures.

Aviva Investors' Luxembourg-domiciled European Property Fund (EPF) has temporarily suspended dealing to safeguard investor interests in a turbulent market.

Friends Provident International (FPI) has added three further funds to its German pension product.

Nationwide International has announced details of new savings rates on its sterling, US dollar and euro offshore accounts.

World equity markets lost an estimated $5.79trn during October in their worst month in history, according to Standard & Poor's Index Services.

BNY Mellon Asset Management has hired Thomas Connolly as managing director, head of asset management for the Middle East region.

Barack Obama's first task as US president is to return confidence to the financial system and to the economy, and we can expect significant fiscal stimulus in 2009, according to Newton Investment Management's Simon Laing.

The UK's Investment Management Association has backed the Committee of European Securities Regulators' (Cesr) advice on how to implement the management company passport.