Economics

Aberdeen Asset Management completed the acquisition of Scottish Widows Investment Partnership (SWIP) last night, paying £550m for the business.

Sterling has risen above $1.69 against the US dollar during trading, nearing its highest level for five years following the release of strong manufacturing data for April.

The US economy has posted disappointing growth figures in the first quarter of the year, slowing sharply to just 0.1% after adverse weather conditions impacted the world's largest economy.

China is poised to overtake the US as the world's largest economy far sooner than expected, according to new statistics.

The UK economy expanded by 0.8% in Q1, slightly below economists' expectations.

Analysts expect Q1 GDP growth for the UK to hit 0.9% when the data is released this morning, marking the highest quarterly level since 2010.

FEATURE

GLG has hired a new co-manager for its top performing Strategic Bond fund to work alongside managers Jon Mawby and Steve Roth.

The FTSE 100 has risen in early trading as news of a fresh Pfizer approach for AstraZeneca sparks a 15% jump in the UK group's share price.

Pfizer has revealed it was rebuffed once again by AstraZeneca over the weekend about a potential takeover of the UK company, with the latter's shares soaring in early trading today in reaction.