Investec Asset Management, which runs more than $5.3bn in active currency funds, is retaining its short position on the Australian dollar as the country faces its first hung parliament since the Second World War.

Interest rates could rise substantially to 8% within two years to stave off soaring inflation, new research suggests.

HSBC is in discussions with Old Mutual over acquiring a 70% stake in South African bank Nedbank.

Jupiter star manager Philip Gibbs will need to generate a higher return to obtain a performance fee this year after being forced to change the benchmark on his International Financials fund.

M&G head of retail fixed income Jim Leaviss believes government bonds still offer value despite the yield on the 10-year gilt approaching historic lows last week.

Former Prime Minister Tony Blair has formed his own investment advisory business offering services to high net worth clients and global funds.

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Fast food giant McDonalds has become the first non-financial foreign company to issue a renminbi-denominated bond.

HSBC Global Asset Management believes there is a "decent chance" of a global markets rally in the fourth quarter, as investors are currently overly pessimistic about the outlook for economic growth.

South Korea state-owned oil company KNOC has launched a £1.87bn hostile takeover bid for Dana Petroleum, a figure likely to tempt the Aberdeen-based group's largest shareholder Schroders.