Markets

UBS is reviewing the future of its underperforming UK Smaller Companies fund, managed by Frank Manduca (pictured).

JO Hambro Capital Management (JOHCM) has outlined plans to launch a global ex US small-cap equities strategy for new hire Robert Cresci.

Jupiter CEO Edward Bonham Carter has called into question the equity market rally, suggesting current moves do not yet signal the start of a new bull market.

Germany's GDP slumped by the most in four years in Q4 2012, with French, Italian and Japanese growth also contracting more than expected on the quarter.

Legg Mason has appointed Joseph Sullivan president and permanent chief executive, after he served four months as interim chief executive.

The Bank of England's Monetary Policy Committee will tolerate missing the inflation target for the next two years in order to support the UK recovery, said Bank governor Mervyn King.

The Financial Services Authority (FSA) has uncovered evidence of incompetency among investment advisers at a number of banks and building societies - resulting in unsuitable advice in some cases - following a mystery shopping exercise.

Attempts by the world's seven major economies to calm the growing tensions over exchange rates triggered by the weakening yen have failed, as currency markets suffered a second day of volatility.

Barclays shares rose almost 9% on Tuesday and ended the day up more than 7%, buoyed by news of a £1.7bn cost-cutting plan, announced in its strategic review.

The UK will avoid falling into a 'triple-dip' recession but external forces still pose a danger to the economy, according to the Confederation of British Industry (CBI).