Markets

The FTSE 100 has surged in afternoon trading - rising over 100 points - as hopes mount US politicians will agree a deal on the country's sprawling budget deficit.

M&G's Graham French has told investors last year was one of the toughest periods of his career as his fund underperformed amid a torrid time for commodities.

J.P. Morgan Asset Management's head of thematic investing Gary Clarke has left the firm after two of his funds were liquidated.

Former Brewin Dolphin investment manager Harry Burnham has joined Ashcourt Rowan as head of its asset management arm.

Ruffer's Steve Russell and Hamish Baillie are holding 14% of their investment trust portfolio in cash as they remain cautious over the short-term outlook.

Janet Yellen will be nominated as the first female Federal Reserve chairman later today, in a ceremony attended by Barack Obama and current chair Ben Bernanke.

Fidelity Worldwide Investment's Tom Stevenson has moved over to the group's personal investing business to help develop the group's direct to consumer offering.

The International Monetary Fund has upgraded its forecast for the UK economy this year, despite downgrading its global outlook.

David North, Legal & General Investment Management's former head of asset allocation and high yield, is set to return to the fund management industry.

There were signs of tentative progress on the US fiscal deadlock yesterday as President Obama indicated he would accept a short-term increase in the nation's borrowing authority to avert a default.