Shares in pharma giant AstraZeneca plunged this morning after the group rejected a fresh offer from US firm Pfizer.

Jupiter's global head of distribution, Simon Hynes, is to leave the group after 12 years to take a sabbatical.

The Financial Conduct Authority (FCA) has urged asset managers to move away from using the annual management charge (AMC) as their headline cost, instead pushing for a focus on the ongoing charges figure (OCF).

Jupiter has launched a US small- and mid-cap fund for Robert Siddles.

Old Mutual Global Investors is to unveil a high yield fund for Christine Johnson and Bastian Wagner.

FATCA nightmare becomes a reality

Lloyds Banking Group has reported a 22% rise in underlying profit to £1.8bn in the first quarter of the year.

The UK economy expanded by 0.8% in Q1, slightly below economists' expectations.

RBS will not pay out bonuses in line with its rival banks, after the UK government said it would not support a payout ratio of two times executive salaries.

Ashcourt Rowan has completed its acquisition of UK Wealth Management Limited (UKWM) from Duke Street General Partner in a £14m deal.