US pension funds have filed an amended complaint alleging "rampant nepotism" and failed corporate governance" at News Corp. in light of the ongoing phone hacking scandal.

The FTSE 100 was up 0.74%, or 38.31 points, at 5201.99 in early trading, with mining stocks the biggest winners.

BP has confirmed it is considering deferring its dividend payments to shareholders.

LV= Asset Management (LVAM) is to launch a new portfolio within its multi-manager range for clients at the lower end of the risk spectrum.

Anthony Bolton's Fidelity China Special Situations investment trust will join the FTSE 250 index on 18 June.

Wealth adviser Towry has appointed former Aberdeen head of multi-manager Robert Dawkins as chief investment officer.

Skandia is to launch a new range of 20 single manager funds across 10 different asset classes.

Martin Currie has named Claire Marwick as co-manager of its Japan Alpha fund, alongside Keith Donaldson and John-Paul Temperley.

The UK's worst performing funds have grown in size by £1bn since the start of the year, research shows.

HSBC Asset Management has launched an ETF tracking the S&P 500 index on the London Stock Exchange (LSE).