The former global head of distribution at Gartmore, Phil Wagstaff, is set to join Skandia Investment Group (SIG) as CEO.

Germany has cut its economic growth forecast over fears its exports will slow, the BBC reports.

F&C's Sam Cosh has taken over the lead management of the European Assets trust following the departure of Paras Anand to Fidelity.

Crispin Odey favourite BSKyB saw profits surge in the first quarter of its financial year, despite continuing pressure on consumers, as it prepares to buy back £750m of shares.

High yield and investment grade US credit are the cheapest asset classes in the market as they are discounting a "savage recession", said Odey's macro strategist Tim Bond.

HSBC's Azim Meghji has joined Santander Asset Management as head of credit and manager of the £977m Sterling Corporate Bond fund.

Anti-capitalist protesters occupied stock exchanges around the world over the weekend, with sit-ins continuing today as organisers claimed 950 protests have been held in over 80 countries.

Banks shares extended losses this afternoon as Fitch Ratings downgraded Lloyds and RBS' long-term credit rating from AA- to A and placed Barclays on a negative watch.

Hargreaves Lansdown saw net new business inflows rise by almost a quarter in the three months to September but said a fall in its assets under management was caused by stock market movements.

MAM funds is launching the Acuim UK Multi Cap Income fund for Gervais Williams and Martin Turner later this week.