Jupiter is planning to scrap the performance fee on its Absolute Return fund from 1 November, two months after manager Philip Gibbs hands the vehicle over to new recruit James Clunie.

Chris Crawford, sales and marketing director at Jupiter, is to depart after seven years at the fund manager.

The Chartered Insurance Institute (CII) has launched a new qualification for staff overseeing investment operations functions.

Jim O'Neill, the former chairman of Goldman Sachs AM who coined the term 'BRICs', will join the board of the Department for Education in the autumn.

Newton Investment Management CEO Helena Morrissey has lambasted the European Union for being a "model of the past" and said Britain can still thrive ouside the flawed organisation.

Chairman Ben Bernanke tried to reassure markets the Federal Reserve would not step away from supporting a weak economy in his testimony to US Congress yesterday.

Former Chancellor Alistair Darling has warned Europe and its plethora of problems continues to pose the greatest threat to the UK unless growth returns.

Miton, the AIM-quoted fund management group, has announced the acquisition of Psigma Asset Management in a deal worth up to £13m.

A leading member of the US Federal Reserve has tried to calm markets by stressing plans to start tapering its QE programme depend on the economy recovering.

Former Chancellor Alistair Darling, who oversaw the bail-out of RBS and Lloyds in 2008, has urged the government to avoid a rapid disposal of taxpayers' stakes in the banking giants.