High earners have had the tax relief on their pension contributions cut in today's Summer Budget.

The FTSE 100 has moved higher despite Chinese stocks plunging another 6% today amid "panic sentiment" and many companies deciding to suspend their shares.

Barclays chief executive Antony Jenkins is to leave the bank as the board of directors calls for a change in leadership with a "new set of skills".

Boston Consulting Group's annual global asset management report has revealed that retail fund fees in the UK fell by some 10% last year as price pressures began to be felt in the domestic market.

Standard Life Wealth has poached Barclays' wealth and investment director Andy Brodie for the role of head of operations.

Hideo Shiozumi, manager of the £300m Legg Mason IF Japan Equity fund, expects the Nikkei will rise 50% from its current level to as high as 30,000 over the next few years.

The £346m BlackRock UK Income fund has gained another co-manager with the addition of David Goldman.

Matt Hudson, manager of the £694m Schroder UK Alpha Income fund, has increased his weighting to banks, despite industry concerns about the threat to dividends from the record level of regulatory fines imposed recently.

Wealth manager European Wealth has completed the £3m acquisition of IFA business ISM Solutions it announced in its annual results in May.

Pictet Asset Management is gearing up for a major push into the UK market and plans to add other onshore funds to its newly-launched multi-asset offering, according to deputy CEO Laurent Ramsey.