Odey Asset Management's Crispin Odey is favouring US financials and tech stocks across his portfolios, with mega-cap investment banks among his top picks.

Warren Buffett has given his official backing to a bill named after him which would see the wealthiest US citizens paying a higher rate of tax.

MAM Funds' multi-manager Sam Liddle is set to leave the group in the summer, and his two funds will be merged away into other portfolios.

Royal Bank of Scotland has posted a worse than expected loss of £2bn for 2011, its fourth consecutive year of losses since its government bailout in 2008.

HSBC is preparing to sell new shares to pay senior staff bonuses of more than £50,000, under a new pay structure, according to reports.

City of London police and the FSA are investigating a suspected $150m trading fraud attempted by a former trader at Threadneedle Investments.

COLOMBIA

The Royal Bank of Scotland, the UK's largest government-owned lender, has dismissed at least four employees in connection with a probe of potential interest-rate manipulation, sources told Bloomberg News.

Owning gilts has made the single largest contribution to recent performance of the £761m Miton Special Situations fund, and there is more money to be made in the asset class, said manager Martin Gray.

Eurozone finance ministers have rejected a reported €3.3bn package of Greek budget cuts, dashing hopes the country will secure more bailout cash and avoid default.