GLG Partners is to close its £7m Asia Pacific fund, managed by the group's co-heads of emerging markets,as well as its Global Emerging Markets offering.

Sterling and gilt yields have dived following the surprise announcement by the Bank of England it is increasing its quantitative easing programme by £75bn.

German Chancellor Angela Merkel has said Europe is facing a race against time to save its indebted European banking system, warning investors risk being hit by deeper losses before the EFSF steps in.

Alain Grisay is to step down as F&C Asset Management's CEO next year, with Edward Bramson taking over his responsibilities in the role of executive chairman.

The UK economy grew at just 0.1% in the second quarter,lower than previously expected, the Office for National Statistics has revealed.

Former Gartmore fund manager Guillaume Rambourg is set to launch his own hedge fund venture in Paris, without ex-colleague Roger Guy, according to reports.

Peter Baxter, chief executive of Old Mutual Asset Managers UK, has exited the firm to pursue other opportunitues.

J.P. Morgan has decided to close its £9m US Growth Alpha Plus fund as significant outflows have seen the portfolio dwindle in size.

First State Investments' Angus Tulloch is stepping down from position on the board of the Baillie Gifford Shin Nippon trust.

The FTSE 100 has fallen a further 2.7% in early trading after the S&P 500 closed under 1,100 for the first time since September 2010.