There are no longer any risk-free assets for investors to buy, after a spike in the price of a range of government bond safe-havens, Franklin Templeton's fixed income star Michael Hasenstab has said.

Fewer financial institutions will be able to dodge the incoming FATCA rules, according to the latest agreement on the US tax regime.

Fidelity's Anthony Bolton has moved to reassure investors now is the perfect time to be in the Chinese markets, as hedge funds withdraw from the region and short-sellers move in.

The chief executive of Japan's Nomura Holdings has resigned following a damaging insider trading scandal.

Apple shares led the fallers on the Nasdaq shortly after open following a disappointing second quarter trading update from the tech giant.

The UK economy shrank by 0.7% in the second quarter of the year, a far worse contraction than economists had forecast, keeping the UK mired in recession.

Spain and Germany have moved to reassure investors the former will not need a full-blown bailout, while Greece has found itself back in the headlines after a warning it faces imminent bankruptcy.

GDP data released today is expected to paint a miserable picture for the UK economy, with a contraction in growth forecast for the second quarter.

FSA chairman Lord Adair Turner said the regulator is reviewing its approach to supervision following the LIBOR scandal, but said it would cost too much to prevent all malpractice in the industry.

Schroders' head of UK and European credit Adam Cordery has left the firm.