Economics

The pound could fall by as much as 15% against the US dollar from its current level, back to decade-long lows, if Mark Carney moves to devalue the pound via further QE over the next few years, PIMCO has warned.

Major indices across Europe have opened lower this morning, reversing gains made yesterday as the IMF cut Chinese growth forecasts.

The FTSE 100 index has shrugged off the heavy falls seen at the end of last week to resume its upward trend in early trading this morning.

Fidelity Worldwide Investment (FWI) is to expand its range of FAST funds with the launch of a US portfolio for manager Adrian Brass as it moves to create a US equity research desk that can "rival anything in London".

Japanese equities have started to regain some of the ground lost since the end of last week after the Nikkei rose 1.2% in Tuesday's trading.

Santander has confirmed it is "exploring the possibility" of the sale of a stake in its asset management division.

The Co-operative Bank has appointed the former head of HSBC's North American propositions as its new chief executive.

REDWOOD

MULTI-ASSET

Close Brothers has reported positive net flows into its asset management division, with assets under management up 10% year to date.