Moody's

In addition to pension default range

The bad news continued for embattled retailer Tesco yesterday after its credit rating was downgraded by two key agencies.

PA Portfolio takes a look at investing in asset management houses

DECUMULATION

The lack of advice tools to help create suitable options for clients in the de-cummulation phase is threatening to create problems and could "permanently destroy wealth", a consultancy has warned.

The Bank of England's deputy governor, Paul Tucker, has raised the prospect of introducing negative interest rates to boost lending and support the UK economy.

Yields on UK government debt were climbing early this morning following Moody's decision to downgrade the UK's credit rating to Aa1, but equity investors shrugged off the news to send markets higher.

Moody's has stripped the UK of its AAA credit rating on fears over rising government debt and years of slow economic growth ahead.

Moody's has stripped France of its AAA rating as Artemis' William Littlewood becomes the latest fund manager to turn more negative on the country.

US and Asian equity markets rallied overnight as talk of US politicians reaching a deal to avert the fiscal cliff helped sooth investor worries.