Markets

A growing trend towards excessive risk-taking and lack of action to repair broken bank balance sheets could trigger a "chronic" new phase in the financial crisis, the International Monetary fund has warned.

The board of the Schroder UK Growth fund has said Philip Matthews, hired by Schroders to replace Richard Buxton, is not certain to take over as manager of the £300m trust later this year.

Martin Wheatley, chief executive of the Financial Conduct Authority (FCA), has branded the previous watchdog - the Financial Services Authority (FSA) - "too robotic" in its approach to regulation.

Apple shares have hit their lowest levels in a year and half, after a supplier hinted at a slowdown in iPhone and iPad production.

Markets in the US and Asia moved lower overnight as expectations of a weak update from Apple hit technology shares, while tumbling commodity prices impacted mining stocks.

Investors and backers of Richard Buxton's UK Alpha Plus fund have reacted positively after the group revealed it has poached well known managers from Jupiter and Neptune to replace the outgoing star.

Schroders has poached Jupiter's Philip Matthews and Neptune's Alex Breese to replace Richard Buxton and Errol Francis when they move to Old Mutual Global Investors.

Mervyn King, the outgoing governor of the Bank of England, has warned central banks risk becoming more politicized as a result of their efforts to tackle the banking crisis and subsequent recessions.

A new academic paper suggests an influential study used to argue the case for austerity contains a number of flaws - including a simple Excel spreadsheet error.

Financial services will never rebuild trust with consumers or affect a change in the sector unless custodial sentences are imposed on those guilty of criminal wrongdoing, Chuka Umunna, shadow business secretary has said.