Equities

The JPMorgan Chase employee, dubbed the ‘London Whale', who was responsible for an estimated $2bn loss has left the bank.

EMERGING MARKETS

Moody's has cut Italy's credit rating by two notches to Baa2 as the euro area's third biggest economy faces higher funding costs and contagion risk from Greece and Spain.

Warren Buffett has spoken out about the rapidly deteriorating state of the European economy, warning that there is no obvious answer to the region's problems.

Stronger than expected employment data could not prevent Wall Street selling off at the open this afternoon.

Ten-year US Treasury bonds were sold at a record low yield at auction yesterday, as fears that the US economic recovery is fading mounted.

HSBC has revealed it faces a hefty fine - estimated at $1bn by analysts - from US regulators for failing to have the right anti money laundering controls in place from 2004 until 2010.

Schroders' head of UK equities Richard Buxton bought more Barclays shares the day chief executive Bob Diamond quit, he has revealed.

The team behind Majedie's £1.1bn UK Equity fund has bought back into miners, having avoided them for most of the second quarter.

European authorities are pushing Spanish banks to write off their preferred shares and subordinated bonds, in a move which could see small savers lose billions of euros.