Financial regulators in Europe have called on the Obama administration to speed up reform of its banking regulations to prevent the world's largest economy gaining an unfair advantage over counterparts.

The Investment Management Association (IMA) could scrap plans to rename the Cautious, Balanced and Active Managed sectors after an outcry from leading investment houses.

Shareholders in Fidelity's Growth & Income fund have voted in favour of its merger into the MoneyBuilder Growth fund.

Paul Myners, the former City minister, has agreed to join the board one of Europe's leading activist investors, according to reports.

The British Chambers of Commerce (BCC) has predicted interest rates will hit 1% by the end of this year despite the lacklustre economic recovery.

Threadneedle's Simon Brazier said UK equities are set to rise 17% in 2011 as favourable policies from government and reasonable valuations leave plenty of upside for shares.

The head of the Eurogroup sent the single currency tumbling yesterday after he issued a warning to Greece that it may not be bailed out again if it gets into further difficulty.

Fidelity has slammed the Investment Management Association (IMA) for deciding to rename the Managed sectors Managed A,B,C and D.

The US economy grew at a worse than expected 1.8% in the first quarter, unchanged from April's first reading, the US Commerce Department has confirmed.

Man Group is planning to follow up the launch of its Nomura Global Trend fund with another vehicle run up by GLG, the fund manager it acquired last year.