The IMA is changing the name of its Managed sectors to fall into line with the Association of British Insurers (ABI) fund categories.

As George Osborne reveals the Office for Budget Responsibility has revised down growth forecasts in the UK and government borrowing has moved higher, fund managers and economists give their view on 2011's Autumn Statement.

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James Murdoch has been re-elected as chairman of beleaguered media group BSkyb despite calls from fund management groups for his resignation.

Last month equity funds in the IMA sectors saw their largest monthly outflow since October 2008, the peak of the financial crisis.

Schroders' Richard Buxton has defended his banking positions, saying troubled UK lenders could be returning 15% on equity by 2015.

The FTSE 100 has reversed this morning's losses to rise over 1% in afternoon trading - buoyed by a surge on Wall Street.

Invesco Perpetual's Nick Mustoe and John Greenwood have warned the eurozone crisis could turn into a credit crunch style event akin to the Lehman collapse as banks tighten restrictions on lending to each other.

Thomas Cook shares jumped 47% on Thursday in anticipation of an announcement the travel giant has secured the £100m loan it needs to avoid going bust.

Eurozone leaders' failure to call for ECB intervention on the continent's debt crisis at a press conference yesterday caused the euro to fall to a seven week low against the dollar.