Treasury resources were 'stretched and unprepared' for the 2008 financial crisis, according to a damning new report.

George Soros lost out on two legal bids this week, which are set to cost the billionaire investor millions.

Raj Shant has been appointed lead manager on the £19m Newton European Higher Income fund, replacing Fred Moore, who is leaving Newton to pursue opportunities outside the investment management industry.

Merrill Lynch's chief investment officer Bill O'Neill has advised investors to steer clear of government bonds, saying they will only offer value in a double-dip environment.

John Clougherty, chief executive of Aviva Investors' UK funds business, has left the group.

Hugh Young is steering clear of opportunities in frontier markets over fears of a repeat of the collapse seen in Vietnam in 2009.

WEALTH MANAGERS

Investment veteran Jim Rogers is banking on a collapse in the Chinese stock market, so he can snap up cheap shares in the region.

Chief executive and co-founder of Polar Capital, Tim Woolley, has cashed in £1m worth of his shares in the firm.

European markets have added to early losses as concerns over Chinese growth hit miners and a military coup in Mali sent Rangold Resources shares plummeting.