The FCA is to extend the Coronavirus freeze on 10% drop notices until the end of the year and will consult on their future in the spring.

Fund manager James Anderson, joint manager of Baillie Gifford’s popular Scottish Mortgage Investment Trust, is to retire from Baillie Gifford after 40 years with the firm.

The popular 60/40 split between equities and bonds will fail to serve clients as well in an era of record low bond yields, according to fund manager and investment platform 7IM.

Flat fee investment platform Interactive Investor (ii) is to acquire acquire the direct-to-consumer retail customer book of rival EQi for up to £48.5m.