The Comprehensive Spending Review is necessary to bring the UK economy "back from the brink", says Chancellor George Osborne.

The UK government borrowed a record £16.2bn in September to repair the nation's finances, a figure which surprised economists.

China has raised interest rates for the first time since 2007 in a bid to stifle inflation and dampen down its overheating property market.

Legg Mason's veteran US manager Bill Miller is "deadwood" following prolonged underperformance, says Chelsea Financial Services.

Jupiter is preparing to launch a Global Emerging Markets fund for Kathryn Langridge, which will run with two-thirds of its assets in small and mid caps.

Mega-cap oil companies have a flawed business model, while unloved media stocks look excellent value, says Aviva Investors' head of UK equities David Lis.

THE BIG INTERVIEW

Patrick Edwardson, the manager of the £393m Scottish American investment trust, has increased his UK exposure to a quarter of the portfolio, at the expense of overseas holdings.

Martin Currie is preparing to unveil its two newest products, a Latin America fund for the EM team it poached from Swip, and a Global Equity Income fund.

Richard Downs is stepping down as the managing director of Old Broad Street Research (OBSR), to be succeeded by Richard Romer-Lee and Nigel Whittingham.