Economics

Dalton Strategic Partners' Melchior European fund, managed by Leonard Charlton, has been hard-closed at $100m.

UK business managers are preparing for a double-dip recession and also warn the private sector will fail to replace jobs lost to public sector cutbacks.

China has warned of a possible trade war as the US Senate voted in favour of debating laws which could pressure it to let the renminbi rise.

Standard & Poor's has maintained its AAA long-term credit rating for the UK and said the outlook remains stable, while warning GDP will be lower than forecast for the next three years.

The FTSE 100 has found support around the resistance level of 5,000 points as investors weigh up Greece's latest troubles.

News that Greece will fail to meet deficit reduction targets pushed the FTSE 100 down 2.8% at open, dragging it below 5,000 points.

Speculation is mounting the Bank of England may be close to cutting base rates to 0.25% and pumping at least £50bn more into the economy through quantitative easing.

Wall Street bankers who feel they have been singled out to blame for the financial crisis are refusing to fund President Barack Obama's next election campaign, Warren Buffett has said.

The FTSE 100 has closed down 1.3% bringing its total loss for the quarter to 13.7%, its worst performance for nine years.

Martin Currie is to close its £18m Pan European Alpha fund and named a new manager for its European fund to replace the departing Eric Woehrling.