GAM has launched a UCITS III version of its fund of hedge funds, GAM Trading, aimed at retail investors.

Credit rating agency Standard & Poor's has downgraded Portugal for the second time, on the basis it may be unable to repay its debt, the Financial Times reports.

The FTSE 100 continued its rally this morning off the back of a strong showing in the US where better than expected earning pushed the S&P 500 through the 1,300 point barrier.

Warren Buffett is eyeing businesses and large-cap shares in South Korea to tap into the country's growth, Bloomberg reports.

Japan could need up to five years to recover from up to $235bn (£145bn) worth of damage from the Tohoku earthquake, according to a World Bank.

The Reserve Bank of India has raised interest rates to fight rising consumer prices in the country.

Rathbones has poached Jeremy Stanyer, a specialist in private client investment management from Williams de Broe, for the position of investment director at its Aberdeen office.

Newton Investment Management has changed the manager on two of its key funds, Managed and Income.

Contagion risk has heightened as a result of rising food price inflation, which could lead to political unrest in the Middle East spreading to other areas, warns veteran investor Jim Rogers.

Rathbones' David Coombs is adding Japanese stocks to his portfolio in the view its economy will rebound quickly from the aftermath of last week's devastating earthquake and tsunami.