The largest equity markets in the US have reached new record highs after an uptick in manufacturing data boosted investor sentiment.

PIMCO's Bill Gross, manager of the world's largest bond fund, is auctioning off some of his historic stamp collection to raise proceeds for charity organisations.

The Chancellor has revealed plans to remove stamp duty on AIM shares, as part of the 2013 Budget.

Almost half the funds in the Investment Management Association (IMA) Global Equity Income sector have cut dividend payouts over the past year, leading some wealth managers to caution income hunters when allocating to the increasingly popular space.

Baillie Gifford has cut the annual management charge across its specialist investment trust range, including Sarah Whitley's top-performing £169m Japanese investment trust.

Standard Life Investments (SLI) has handed its £52m UK Equity High Alpha fund to UK equity analyst Henry Flockhart, who will replace Ed Legget as lead manager on the fund.

Fund groups have renewed their calls for sub-divisions within the Absolute Return peer group, after the Investment Management Association (IMA) revealed its long-awaited review of the sector last week.

Old Mutual Wealth CEO Paul Feeney has dispelled worries about the effects of re-registration on the group's Skandia platform after it made a £2m profit, arguing rivals are behind the curve when it comes to facilitating electronic transfers.

Royal Bank of Scotland (RBS) has posted a pre-tax loss of £2.2bn in the fourth quarter, taking full year 2012 losses to £5.2bn, but despite the results the bank said the government is much closer to selling its stake.

Neil Woodford, manager of Invesco Perpetual's £20bn Income fund range, has become more cautious on UK equities after a strong six-month showing from the FTSE 100.