Schroders is to launch a Global Macro Bond fund for Bob Jolly, a long/short fixed income vehicle targeting a yield of LIBOR plus 8%.

MAM Funds has hired Scottish Widows Investment Partnership's Nick Ford as part of a drive to expand its investment capabilities.

AXA Investment Managers has shut its £5.5m AXA Framlington Talents fund because of its small size while Charles Firmin-Didot, the creator of the Talents strategies, has left the group.

The government should reconsider its decision not to adopt Vickers report proposals on derivatives and questions now need to be asked over a full split between retail and investment banking, according to the IMA.

Invesco Perpetual's Neil Woodford has said the criticism directed by MPs at G4S CEO Nick Buckles over Olympics security was like a "medieval persecution'.

Carmignac Gestion has followed Legg Mason in adding some of its flagship funds to the IMA's sector listings for the first time, while PIMCO is understood to be in talks to make a similar move.

Apple shares hit a new record of almost $681 a share in US trading overnight as investors continued to digest the fallout from a $1bn patent lawsuit.

Investec Asset Management has appointed Schroders' Michael Spinks as part of an expansion of its $13bn multi-asset offering.

The Office for National Statistics has revised up its estimate of second quarter growth from a 0.7% contraction to a fall of 0.5%.

Bank of England monetary policy committee member Martin Weale has said he would prefer a base rate cut to further quantitative easing, were the Bank to unveil more stimulus measures.