US investment banking giant Citigroup saw its shares tumble in early afternoon trading after the group revealed a fall in profits and sliding revenues.

Egypt has asked the International Monetary Fund (IMF) to grant it a $3.2bn standby facility in order to help the country shore up its economy.

The UK and the US could be dragged into a eurozone-style sovereign debt crisis if they waver on austerity plans, said Invesco's John Greenwood.

The yield on gilts tumbled near to record lows this morning as investors piled into any sovereigns which have retained their AAA-status after widespread EU downgrades.

First State's Martin Lau has beaten stars including Invesco Perpetual's Neil Woodford and Neptune's Robin Geffen to see his Greater China Growth fund ranked the most consistent performer over the three years to the end of 2011.

As income-producing stocks struggle to make total returns, Steven Andrew uses his fund's ability to invest in bonds to outperform his peers.

Schroders Richard Buxton has revealed the top ten stocks he is backing in his £2.7bn UK Alpha Plus fund heading into 2012.

Cazenove Capital Management has made unbundled share classes available to intermediaries across its equity and multi-manager fund ranges ahead of the RDR deadline at the end of the year.

Fidelity's Sanjeev Shah has reduced his holding in part-nationalised lender Royal Bank of Scotland (RBS) following a tough year for financials in 2011.

Hedge funds faced a mixed year in 2011 as markets took a sharp turn for the worse, but a number of multi-billlion dollar portfolios still shone, according to the latest annual release from Bloomberg Markets Magazine.