Invesco Perpetual's Neil Woodford is set to profit as his holding Omega Insurance received two takeover bids in as many days.

The FTSE 100 has slipped back into the red mid morning as poor performance from the banking and mining sectors weighed on the index.

M&G chief executive Michael McLintock has raked in nearly £700,000 after selling shares in parent company Prudential.

Slater Investments is to launch an income fund focusing on the UK's mid- and small-cap sectors for co-founder Mark Slater.

Fidelity is bringing its $115m offshore China Consumer fund onshore with the launch of a mirror fund early next year.

BlackRock has appointed Simon White from Allianz Global Investors' subsidiary RCM as head of investment trusts.

ONE TO WATCH

Marlborough's Giles Hargreave has been building up his cash positions as he expects one more major market sell-off, which will send the FTSE 100 down 10% to 4,700.

Standard Life Investments' Harry Nimmo has admitted he made a "huge mistake" offloading his holding in Supergroup last month and is looking to buy back into the stock.

Fitch Ratings has warned it may downgrade China's local currency debt rating within two years on fears over the state of the country's indebted banks.