Economics

F&C's head of European equities Paras Anand is to join Fidelity, Investment Week can reveal.

London markets made gains this morning despite S&P's move to downgrade Italy's sovereign debt rating from A+ to A, with shares recovering some ground lost on Monday.

US president Barack Obama has said the wealthy and corporations should pay their "fair share" to cut the country's deficit after proposing a tax for the super rich.

Italy has had its sovereign debt rating cut by ratings agency Standard & Poor's as the European debt crisis continues to rumble on.

US markets fell 2% at open, adding to the grim picture in Europe, as investors continued to fret over the future of Greece.

The Bank of England has estimated its £200bn asset purchase program has raised inflation by as much as 1.5%.

GAM's top performing £1.5bn GAM Star China Equity fund has been re-opened to investors less than a year after the group soft-closed it.

Ratings agency Moody's has extended its review of Italy's Aa2 credit rating by a further 30 days as it assesses the country's financial position.

The FTSE 100 sold off sharply in early trading alongside indices across Europe as fears over a break-up of the region swept across markets once again.

Tim Tookey, Lloyds' finance director, is to resign from the group to become chief financial officer at Friends Life.