The FTSE 100 opened lower, down 39.78 points or 0.76% to 5220 over worries about global growth following announcements in China and the US.

Cadbury shares have bucked a poor start to FTSE 100 trading this morning, climbing over 3% on news it has agreed a £11.5bn takeover bid by Kraft.

Invesco Perpetual and M&G have pledged to invest £95m in a new UK bank launch, according to The Daily Telegraph.

F&C head of retail multi-management Dean Cheeseman believes continued hedge fund convergence into the retail space will dominate 2010's product launches.

The FTSE 100 opened slightly lower this morning after falls on Wall Street and in Asia, dipping 4.76 points (0.09%) to 5,493 in early trading.

PSigma Investment Management has promoted Balanced Managed Fund of Funds manager Tom Becket to its CIO position.

Montanaro small cap specialist Dan Harlow has joined AXA Framlington's UK equities team.

F&C's multi-manager team has added L&G Managed Monthly Income to the bond portion of its Lifestyle Defensive portfolio.

T.Bailey is capping the TER of its new passive international equity fund at 0.99% for the leading unit class.

Former New Star Asset Management founder John Duffield has unveiled further details of his new Brompton Asset Management venture.