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The surprise 1% rise in UK GDP in Q3 points to only a slight improvement in the economy's growth outlook, according to forecasters.

F&C Asset Management has reported a drop in AUM between the second and third quarters as it continues to see outflows from its wholesales arm and Thames River.

Banking giant UBS could cut thousands of jobs in London and a total of 10,000 worldwide as part of a plan to split its operations.

This week, managers explain which moves have helped their performance in 2012.

Former Italian Prime Minister Silvio Berlusconi has been sentenced to four years in jail for his part in a six-year old tax fraud case.

UBS Asset Management is to close its US 130/30 Equity fund, as well its Asian Equity fund, due to the uneconomical size of both portfolios.

London's FTSE 100 had sold off around 0.6% just before US GDP figures were released on Friday, with mining stocks bearing the brunt of the sell off.

The US economy grew by 2% in the third quarter of 2012, beating forecasts despite ongoing fears the US elections and the impending fiscal cliff are putting businesses off from spending heavily.