A bungling City novice who frittered away more than £500,000 belonging to friends he met in the pub was jailed for four years on Wednesday.

British spread-betting firm CMC Markets said yesterday investment bank Goldman Sachs had agreed to take a 10 per cent stake in the firm.

IG Group Holdings Plc (IGG.L) said it agreed to buy the entire issued share capital of HedgeStreet Inc. for $6.0 million, or approximately £2.9 million.