Matrix is planning to launch a range of Ucits III funds, the first of which is likely to be an Eastern European equity fund with a focus on Russia.

The FTSE 100 climbed 0.8% or 44 points to 5,584 this morning following yesterday's slide on the back of disappointing retail sales figures.

UK retail sales fell by 0.5% in August, surprising economists who had expected a 0.3% rise.

Warren Buffett has begun unloading shares in ratings agency Moody's as the group's share price hit $25, CNBC reports.

It is "unlikely" the UK economy will plunge into a double dip recession next year, says Henderson's head of equities Bill McQuaker.

BlackRock's chief equity strategist Bob Doll remains resolutely positive on the US economy, predicting 2% GDP growth despite a surge in double dip fears.

There is now a greater likelihood the UK will experience a double dip next year, while it is "almost a certainty" countries such as Greece will slide back into recession, says Invesco Perpetual's Neil Woodford.

PSigma's income guru Bill Mott says defensive sectors are offering the most attractive yields relative to 10-year gilts he has ever seen.

Morgan Stanley Investment Management has launched an offshore Japanese Equity fund for its latest hire.

The FTSE opened 0.04% up this morning at 5,565 as retailers came out with mixed messages on consumer sentiment.