GLOBAL - Assets under management at State Street Global Advisors fell US$763bn (£474.6bn) during the fourth quarter - down 1.6% on the previous year.
Its parent company, State Street, posted fourth quarter net income of US$477m on revenues of US$1.5bn.
Net income for the whole of 2002 was US$1bn, on revenue of US$4.4bn (£2.7bn).
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.