American investment bank Goldman Sachs has posted better than expected first quarter profits of $3.46bn (£2.25bn), almost double what it made in the first quarter of last year.

The FTSE 100 opened positively, up 0.45% or 25.88 points to 5,753, despite food retailers dragging on the index.

The HMRC has reversed its decision to force advisers to contact it about kick-out structured products held in ISAs until it completes a review on the issue.

F&C has seen a significant shift in the type of IFAs using its Lifestyle fund range as a result of changes brought by the RDR.

Jubilee Financial Products has issued a new structured product which offers exposure to UK equities and inflation.

Lloyds Banking Group and Société Générale have joined the UK Structured Products Association (UK SPA).

The FTSE 100 has opened 0.06% or 3.24 points lower to 5,774 in early trading as rises in retail stocks were offset by falling mining shares.

Meteor Asset Management has dropped the ISA option from its new kick-out product over uncertainty about its eligibility.

Morningstar UK has acquired fund ratings agency Old Broad Street Research (OBSR) for £11.95m.

Gilliat Financial Solutions has issued its latest FTSE Income Builder structured product.