UK

Moody's has stripped the UK of its AAA credit rating on fears over rising government debt and years of slow economic growth ahead.

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UK

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Barclays has confirmed Sir David Walker will succeed Marcus Agius as chairman of the bank on 1 November, following press reports yesterday.

Sir David Walker, a former deputy governor of the Bank of England, will become the new chairman of Barclays, according to reports.

The UK economy shrank by 0.7% in the second quarter of the year, a far worse contraction than economists had forecast, keeping the UK mired in recession.

UK CONSUMER

City Asset Management founder Vivian Coghill has passed away following a short illness.

The final part of Edward Bramson's strategic review into F&C Asset Management has revealed plans to expand its range of investment trusts and to market F&C multi-manager funds direct to consumers.