Old Mutual Wealth has finalised a deal to acquire Quilter Cheviot for £585m.

Core government bond yields have tumbled this afternoon, as investors rush back to safe havens and stocks slump amid widespread selling.

UK CPI inflation has fallen to its lowest level in five years, undershooting estimates as the impact of falling petrol prices dragged the headline level down near to 1%.

The FTSE 100 was in the red once again today following losses around the globe overnight, with Hargreaves Lansdown and luxury goods retailers Burberry and Mulberry both taking a tumble on slowdown fears.

Hargreaves Lansdown has said the low interest rate environment will continue to impact its revenues for the remainder of the year, with the business also ruling out any further moves on price for now as investor confidence wanes.

Shares on Wall Street have recorded the worst three-day streak since 2011 after another sharp move lower overnight, with investors continuing to fret over the end of the US Federal Reserve's bond buying programme.

Ignis Absolute Return Government Bond fund manager Ross Oxley and two members of his team are to exit the business following its £390m takeover by Standard Life, Investment Week understands.

FOUR Capital Partners is to expand its fund range with the launch of a US mandate run by new hire, and ex-ING manager, Adour Sarkissian.

Platforms must branch out to survive

Fidelity's move into passive funds