The Conservatives are said to be planning to merge national insurance into income tax in a major shake-up of the current tax system.

Henderson global Investors has agreed a deal to buy US fund manager Geneva Capital Management in a deal worth up to $200m (£117m).

Mark Barnett's Invesco Perpetual Income and UK Strategic Income funds are to exit the IMA UK Equity Income sector in the next few days.

Bank of England Governor Mark Carney has said the 'new normal' for interest rates in the UK will be around 2.5%, a level he predicted they may reach by 2017.

UK shares held on to modest gains this morning after the final reading for UK GDP growth in the first quarter was held at 0.8%.

The FTSE 100 had a "historic" day yesterday after global mining giant Glencore appointed its first female director.

Wonga, the UK's largest payday lender, has been forced to repay £2.6m to customers by the Financial Conduct Authority (FCA) after the regulator found it sent fake legal letters to borrowers.

A hike in the base rate of as little as 0.25% would have a much greater impact on the disposable incomes of highly indebted consumers, potentially threatening the UK's recovery, Neil Woodford has said.

Aviva Investors has raised its annual forecast for returns from commercial property to 8.9% over the next five years, despite the threat interest rates may rise as early as this year.

Ignis Asset Management chief executive Chris Samuel is to exit the business next week when the takeover by Standard Life Investments completes, Investment Week understands.