The Association of Investment Companies (AIC) has backed industry calls for the FSA to relax planned rules restricting the sale of EIS and VCTs to retail investors.

The Premier Multi-Asset High Income fund has been renamed and will now pay monthly, rather than quarterly, income to investors.

EQUITY INCOME

Equity trading was suspended in the US today as Hurricane Sandy approached New York City with 70-mile an hour winds and a threat of an 11 foot sea surge.

Bank of England policymaker Andy Haldane, has slated ring-fencing proposals for being too weak and said "King Kong" banks should be no larger than $100bn.

London's FTSE 100 had sold off around 0.6% just before US GDP figures were released on Friday, with mining stocks bearing the brunt of the sell off.

Equity fund flows surged to €1.91bn in September, the first positive monthly figure since February, Morningstar's latest European fund flows data has shown.

John Shepherd, head of UK retail discretionary sales at UBS Global Asset Management, has resigned from the firm.

Asian stock markets rallied overnight as Hong Kong's Hang Seng Composite index posted its longest streak of gains in seven years.

US investment banking giant Bank of America has been hit with a $1bn (£624m) lawsuit from the government over allegations it fraudulently issued "toxic" loans.