News

BP shares continued to fall both sides of the Atlantic on Monday after the oil giant said the cost of the Gulf of Mexico spill had risen to £1bn and US President Barack Obama compared the environmental disaster to the 9/11 terrorist attacks.

The Cautious Managed and Balanced Managed sectors gained momentum on Cofunds during May as advisers look increasingly to diversified sectors.

ETF Securities (ETFS) is due to unveil 22 currency exchange-traded commodities (ETCs) on the London Stock Exchange in the coming weeks.

Consolidator Succession Advisory Services (Succession) has joined industry body Tisa as a member firm.

US investment firm State Street Global Advisors (SSgA) has acquired an exclusive ETF licence to list and trade SPDR funds based on the S&P/ASX 200.

The FSA has appointed Tom Boardman as senior adviser on life insurance.

Advisers are concerned service quality could suffer if Resolution succeeds in a takeover of AXA's annuity, protection and group pension business.

National IFA Moneygate has acquired Buckinghamshire-based Beacon Asset Management as its expansion drive gathers pace.

BlackRock has authorised a 10-for-one share split on the iShares Comex Gold Trust, lowering the share price and increasing the number of outstanding shares.

The newly-formed Office for Budget Responsibility (OBR) has downgraded the UK's economic growth projections for next year.