China's GDP growth rate slowed to 10.3% in the second quarter, down from 11.9% the previous quarter, as the Government made efforts to cool the overheating economy.

UK unemployment fell 0.1% to 7.8% in the three months to May this year, according to the latest data from the Office for National Statistics.

Skandia has handed the management of its $125m (£83m) Technology fund from Wellington Management Company to Janus Capital Group.

Fidelity FundsNetwork is planning to introduce free buying for lump sum investments and free switching through a pricing option launching on 9 August.

The UK economy is recovering but progress is sluggish, the latest GDP figures from the Office for National Statistics suggest.

T. Bailey is preparing to launch a multi-asset cautious managed fund for Elliot Farley at the end of July.

Invesco Perpetual's European equity income specialist Katharina Hoyland is leaving the group to concentrate on her family.

Aegon has promoted Peter Shaw to become joint manager with Audrey Ryan on the £43.2m UK Opportunities fund.

Specialist fund management firm Rudolf Wolff has launched a Central London Commercial Property fund aiming to produce a net annual income of up to 7%.

Aegon's Colin Purdie has joined Aviva as a SRI credit fund manager, taking on the lead management of the Sustainable Future Corporate Bond fund.