Markets

The Investment Management Association (IMA) has criticised FSA proposals aiming to clarify the definition of absolute return funds, warning it risks putting UK-authorised funds at a disadvantage.

Australia's central bank has cut its benchmark interest rate to 3% in order to counter a slowdown in its mining sector.

The banking crisis has been as damaging to the UK economy as a world war, a top Bank of England (BoE) official has said.

Artemis UK Growth managers Tim Steer and Stephen Yiu have bought into Lloyds as they increase exposure to domestic-oriented stocks and start shorting former favourites.

Multinational coffee house Starbucks has caved in to public anger over the recent revelation it paid less than 1% in tax in the UK, pledging to 'do more' according to reports.

Credit rating agency Moody's Investor Services has downgraded its rating of the European Stability Mechanism (ESM) - Europe's bailout fund - because of increased concerns over the financial health of France.

AUTUMN STATEMENT

Bob Jolly (pictured), head of global macro at Schroders, reviews a year in global bond markets and asks what themes could characterise the asset class in 2013.

The Financial Services Compensation Scheme (FSCS) is to hit fund managers with a £33m levy to cover a shortfall in its finances after it overcharged some firms.

Royal London Asset Management's Derek Mitchell (pictured) looks at what is driving global stocks, and asks if macro events are combining to create 'the perfect storm' in markets.