Wealth manager Hargreaves Lansdown has reported a new record for assets under administration despite an expected slowdown in investor activity and increased competition.

Allianz Global Investors is to launch a range of risk-rated multi-asset funds in response to growing demand for "outcome-orientated" solutions.

Reports suggesting Bank of Canada governor Mark Carney is being lined up to replace his Bank of England (BoE) counterpart Sir Mervyn King have been denied.

Billionaire investor Warren Buffett has been diagnosed with prostate cancer.

David Jacob, managing director of investment management at Henderson Group, has sold 429,000 shares at 120.60p.

The government is assessing new types of pension scheme designed to even out the risks between employer and employee following the closure of many final salary pensions by private firms.

The Chancellor has expressed his "shock" that some of the country's wealthiest people are able to organise their finances so they pay "virtually no" income tax.

The Financial Services Compensation Scheme (FSCS) is to levy life, pensions and investment advisers for an extra £38m, as it begins making part-payments to Arch cru investors with eligible claims against failed IFAs.

GRIPES

Resolution is preparing a "self-managed" exit from Friends Life in 2014 that would see the company split between a fit-for-purpose life company and a closed life fund consolidator.