Norwegian oil fund set to boost equity exposure by 10%
The Norwegian government has approved an expert group’s proposal to allow the country’s $900bn oil fund to increase its exposure to equities from 60% currently, to 70%. (FT)

Fidelity operating profits surge by 19.5%
Fidelity Investments earned an operating profit of $3.5bn last year, representing a 19.5% increase from a year ago, driven by a tight control over costs, according to the company’s latest annual report. (FT)