Economics

Neptune has closed a further two productsin its range, bringing to an end a period of significant fund consolidation and restructuring for the firm.

Jupiter has promoted James Zimmerman to lead manager of its £60m UK Smaller Companies portfolio as Richard Curling steps back.

Renewed yen weakness could bring about a fresh global currency war resulting in a 'tidal wave of deflation' in China and the West, Société Générale's Albert Edwards has warned.

The government is to move a step closer to selling its stake in RBS, with Chancellor George Osborne set to lay out plans for its privatisation in a speech next week.

HSBC has confirmed it is planning to cut up to 25,000 jobs, including 8,000 posts in the UK, to target annual savings of up to $5bn (£3.3.bn).

Caspar Rock, head of Architas Multi-Managers

Sterling has pulled back against the dollar after a second estimate of Q1 UK GDP growth failed to produce the upwards revision expected by economists.

The government has pledged to keep the triple lock on state pension increases until 2020 and to leave pensioner benefits such as the winter fuel allowance untouched.

Bank shares were clear winners in the days following the Conservatives' shock election win, and fund managers predict they have further to run. Investment Week lists funds positioned for a further rally in bank shares.

Investec has reported profits in its asset management business grew 3.6% over the year to the end of March 2015, as its CEO said the wider group is "in the best position it has been since the mid-2000s".