News

BlackRock's Nick McLeod-Clark has stepped down from running the firm's £698m UK Income fund to take an extended period of leave to recover from poor health.

Merchant House Group (MHG) has entered administration for reportedly failing to honour guarantee that it would pay liabilities relating to its structured product arm, Merchant Capital.

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Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), has branded the previous watchdog - the Financial Services Authority (FSA) - "too robotic" in its approach to regulation.

Four platforms are to allow advisers to automatically calculate tax liabilities for clients, following HM Revenue and Customs' decision to tax rebates paid by fund managers.

Jupiter said today it intends to use the money raised from the Cofunds sale to pay down debt as it unveiled a near £3bn rise in assets under management.

A growing trend towards excessive risk-taking and lack of action to repair broken bank balance sheets could trigger a "chronic" new phase in the financial crisis, the International Monetary fund has warned.

Apple shares have hit their lowest levels in a year and half, after a supplier hinted at a slowdown in iPhone and iPad production.