UK sugar manufacturer Tate & Lyle saw its shares fall by nearly 20% at one stage this morning after it warned profits will sharply undershoot estimates.

Electra Private Equity has urged shareholders to reject a fresh approach from activist investors Edward Bramson after he wrote a critical letter to Electra's shareholders.

The Investment Management Association made a profit of £188,000 in 2013, reversing losses from 2012, after a significant jump in revenues from membership fees.

L&G is to merge away its underperforming L&G Equity and L&G UK Active Opportunities funds in mid-November.

'The biggest issue facing markets is Ukraine'

Brent crude oil has fallen to more than a two-year low following a thinktank's move to cut its forecast for global oil demand, while markets were muted overnight ahead of a pivotal US Federal Reserve meeting.

First State has expanded its range of fixed income products with the launch of a global interest rates and currency fund.

The illiquidity and low volatility of micro-cap stocks has helped managers at the very bottom of the cap scale dodge the impact of this year's rotation into larger companies, buyers suggest.

The Baring Multi-Asset fund has lost over half of its assets in a month after Andrew Cole, Percival Stanion and Shaniel Ramjee left the group.

Former Aegon director Charles Garthwaite has been appointed chief executive of fund hosting company Fund Partners.