The agreement to avert the US fiscal cliff is the ultimate example of a Pyrrhic victory, according to PSigma CIO Tom Becket.

Former FSA chief executive Hector Sants has been awarded a knighthood in today's New Year honours list.

Invesco Perpetual global equity income managers Paul Boyne (pictured) and Doug McGraw have left the group to take up new roles at a North American firm.

The Treasury Committee has called for additional evidence to help its inquiry into quantitative easing as it widens the scope of its investigation.

UK CPI inflation remained at 2.7% in October, broadly in line with economists' expectations, as RPI inflation fell from 3.2% to 3%.

RBS currency analysts have said selling sterling against the US dollar represents a "top 2013 trade" as the pound rises to a ten-week high.

Investec is to merge away its European fund due to its small size.

Schroders has reached an agreement to acquire US investment grade fixed income manager STW Fixed Income Management.

Dalton Strategic Partnership's Peter Kaye is to join Fidelity to run its £1bn American fund, as current manager Aris Vatis leaves the group.

Morgan Stanley has soft-closed its Global Brands fund to retail investors in a bid to preserve the performance of the top-performing portfolio.