Scottish Widows Investment Partnership (SWIP) has become the latest fund management firm to abandon the practise of using soft commissions to pay its broker fees.

The move comes after Paul Myners, the former chairman of Gartmore Investment Management, fiercely criticised the use of soft commission arrangements in his report on the investment management industry last year.

Maha Khan

Corporate/Industrial News

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The agreement settles claims that the lender facilitated $800 million of payments related to the looting of the Malaysian sovereign-wealth fund.

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European business activity continues to prove resilient into the second half of the year, surveys showed, despite the American trade tariffs that have weighed on some companies.

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The president and his allies accuse Powell of dragging his feet on interest-rate cuts, in a caustic and unprecedented pressure campaign.

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The city’s exchange operator reported record profit and revenue as bullish market sentiment boosted trading.

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U.S. stock futures started Wednesday lower after a tech-led selloff caused by a report saying the majority of companies investing in generative AI have yet to see returns.

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Bill Derrough’s move follows recent leadership changes at Moelis.

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The group is focused on acquiring businesses operating mainly in the U.K. online pharmacy market.

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The bank said it also received authorization from the Bank of Italy to acquire indirect control of Banca Generali subsidiaries and indirect shareholdings in affiliates.

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