Economics

Franklin Templeton Investments has launched a global multi-asset product which makes use of the group's multi-manager capabilities and has the option to hedge markets on the downside.

GERMANY SHOULD EXIT EURO

Leading ratings agencies have re-affirmed the US' AAA-rating following the last gasp deal to approve an increase in its debt ceiling.

Nationalised lender Northern Rock has seen losses narrow in the first six months of the year ahead of an expected return to profit in 2012.

European and Asian stock markets declined sharply in Wednesday trading, mirroring overnight falls in New York, on concerns the US recovery is faltering.

Tom Walker, the manager of the Martin Currie £677m North American fund, said investors concerned about the US debt crisis should look to technology as one of the least exposed sectors to political risk.

Spanish and Italian government borrowing costs have hit eurozone-era highs as investors continue to worry over the state of their respective economies.

Fund Management Group (FMG) has unveiled the Rising 6 fund, investing in Africa, Brazil, China, India, the Middle East and Russia for UK investors.

US markets have reversed earlier gains after manufacturing data raised further doubts about the strength of the economic recovery.

The delay in the US government's efforts to raise its debt ceiling now means it holds less cash on its balance sheet than tech giant Apple.