News

St James's Place stock has fallen 10% in today's trading after majority shareholder Lloyds Banking Group placed 77m shares into the market.

The profession of paraplanner is fast becoming a respected career path for young graduates, with higher qualifications becoming more common and wages rising, an industry survey suggests.

The Financial Conduct Authority (FCA) has fined J.P. Morgan International Bank (JPMIB) £3,076,200 for systems and controls failings relating to its provision of retail investment advice and portfolio investment services.

European markets recorded sharp falls in early trading on Thursday after Japan's Nikkei 225 index shed more than 1,100 points on concerns the US Federal Reserve may scale back its quantitative easing programme.

Positive Solutions raised concerns with three clients about the advice to invest in Harlequin Property in 2010 after deeming the Caribbean property scheme to be too risky for a pension.

The Treasury raised an extra £1.3bn from income tax in the first month since the introduction of the 45p top rate, according to the latest figures.

Fear of a sudden market correction is causing pension fund managers in Europe to cut equity allocations as trustees and corporate sponsors remain focussed on managing volatility in pension plan funding positions.

MULTI-ASSET

Households and businesses should be told that borrowing costs will remain at rock-bottom levels until the economy is motoring again, the International Monetary Fund has said.

Lloyds has said it will raise £450m in gross proceeds by selling a 15% stake in wealth manager St. James' Place (SJP).