Economics

Investec Asset Management has revealed it intends to break into the top five independent asset managers by assets within the next five years, after seeing strong inflows in the last year.

Credit Suisse, Julius Baer, and the Royal Bank of Canada are believed to be among bidders for the wealth management arm of the Bank of America, which could fetch $2bn.

Asian markets climbed overnight on indicators the Federal Reserve may initiate further quantitative easing, after initially putting plans on ice.

Japanese government spending helped fuel a gradual recovery fron last year's earthquake and tsunami, with growth up 1% for Q1 compared to the previous quarter.

David Cameron will urge eurozone leaders to "make up or break up" today as he fears the euro unravelling will further dent the British economy.

Stocks on Wall Street rallied on strong industrial production figures today, despite renewed fears over a potential Greek exit from the euro.

Robin Farrell, the chief executive of Arch Financial Products, has formally launched a defence against claims he made secret profits amid the Arch cru funds collapse.

Mike Riddell, M&G's top performing bond fund manager, has urged investors to brace themselves for more pain in markets in the short term as the Greek crisis continues, with safe haven bonds set to see yields fall further.

Financial advisers are being urged to join a newly-formed Arch cru pressure group to fight against the Financial Services Authority's (FSA's) controversial redress proposals.

The global credit market has been turned upside down as sovereigns contaminate the market and governments become "the new hedge funds", according to PIMCO's Luke Spajic.