Russian shares dropped to a five-year low yesterday, weighing on global markets, while the gold price jumped as the Ukraine crisis intensified.

Jeremy Tigue is to step down from the £2.4bn Foreign & Colonial trust as he prepares to retire at the end of the year.

Jupiter saw its assets under management hit a new record in 2013, driven by strong flows into several key funds.

The FTSE 100 reached a 14-year high yesterday while the S&P 500 hit a new record level, lifted by M&A activity.

Three of the top ten dividend payers globally in 2013 were British companies, while financials accounted for the greatest proportion of payouts, according to a new study by Henderson Global Investors.

Royal Bank of Scotland (RBS) is to cut 30,000 jobs as it scales back operations to become a more focused bank.

Lloyds Banking Group posted a pre-tax profit in 2013 for the first time since its government bailout and plans to restart dividend payments in the second half of the year.

Barclays Bank saw adjusted pre-tax profits fall by almost a third during 2013 as restructuring and litigation costs impacted the business, but has increased the bonuses it pays staff.

The charges on Cazenove Capital's fund range will rise when they are rebranded under the Schroders name in March.

Fundsmith founder and City financier Terry Smith is planning to launch an investment trust focusing on emerging markets.