News

Footballing giant Manchester United has said it plans to raise as much as $330m (£210m) in a share sale in New York, to help pay down its debts.

Capital Economics expects the Bank of England to cut the UK's base rate from 0.5% in an effort to stimulate growth, after last week's GDP figure showed the economy is shrinking faster than feared.

Switzerland's biggest bank UBS and Deutsche Bank, Germany's largest lender, have both posted sharp falls in profits for Q2 as fees and commissions dwindled in the face of the eurozone crisis.

Revenues at AFH Financial were up 20% compared to last year to just over £3m, its interim results have shown.

Bankers found to have rigged LIBOR rates could face jail time after the Serious Fraud Office (SFO) said it would look to bring criminal charges against perpetrators, the Telegraph reports.

A decision by HSBC to set aside a further £340m to fund payment protection insurance (PPI) compensation claims has taken the amount banks have now earmarked for PPI mis-selling redress to almost £10bn, a report says.

The Financial Services Authority (FSA) has confirmed changes to rules relating to mortality projections in pension key facts illustrations (KFIs).

Franklin Templeton has launched a Brazilian Opportunities fund targeting a total return from Brazilian equity, fixed income and currency markets.

The Financial Services Authority (FSA) has appointed Bill Sillett as head of retail enforcement, replacing Tom Spender.

The incoming Financial Conduct Authority (FCA) must "act more swiftly" than its predecessor the Financial Services Authority (FSA), and ensure it utilises the full powers at its disposal, a body representing consumer interests has recommended.