J.P. Morgan Asset Management (JPMAM) is closing two underperforming funds, including a commodities fund run by Neil Gregson which has suffered sizeable losses following the sell-off in the mining sector.

J.P. Morgan Asset Management's Clare Hart is taking an underweight position in US consumer staples despite a strong run of performance.

A lack of further easing from the Japanese authorities coupled with fears over QE in Europe rattled markets today, sending the FTSE 100 to a seven-week low, with asset managers some of the biggest fallers.

Old Mutual Wealth CEO Paul Feeney is in line for a bonus package of nearly £400,000, according to plans formalised today.

RUSSIA

A private charity lunch with Warren Buffet has sold for $1m - less than a third of last year's price.

Total platform industry costs stood £50m higher than revenues in 2011 despite assets under administration of nearly £250bn, according to Altus.

Markets surged overnight on news Japan revised its annualised growth rate to 4.1% - up from an estimated 3.5%.

Wall Street rallied at the start of the session today after non-farm payroll numbers from the US beat expectations.

Emerging market fund flows have suffered their worst week since 2011, as investors fear a correction arising from the tapering of the US's QE program.