Equities

Markets were trading in the red this afternoon as eurozone worries and a dispute between Japan and China weighed on investor sentiment.

RWC has signed a deal with European fund house Hermes which will see its $800m Focus fund range and the three teams running the products transfer to the boutique in October.

Standard Life Investments (SLI) has promoted Mikhail Zverev to the role of head of global equities.

The boss of a futures brokerage has pleaded guilty to embezzling over $100m from 24,000 customers in the US state of Iowa.

Apple, the world's largest company, saw its shares break through $700 for the first time ever overnight after it revealed it had received a huge number of pre-orders for the new iPhone.

RICHARD JEFFREY

ASIA

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