Markets

Spanish borrowing costs have fallen sharply at the country's latest debt auction, with demand also strong, after the European Central Bank (ECB) acted to tackle the funding crisis.

Kevin Addison has joined US fund of funds provider SEI as managing director of UK asset management distribution.

MAM Funds' Martin Gray is eyeing developed market government bonds with a view to reinvesting in the asset class, after taking profits over the summer.

China should attack the Japanese bond markets and cause a full-scale funding crisis, unless the latter nation reverses a decision to nationalise the Senkaku/Diaoyu islands, a senior advisor to the Chinese government said.

Aviva Investors has proposed the closure of its Global Listed Real Estate Securities business, including the Global REIT fund run by Paul Van De Vaart, as it has "insufficient scale".

Former deputy governor of the Bank of England Rachel Lomax has ruled herself out of replacing Mervyn King next year, saying she has "moved on" from the central bank.

The Bank of Japan has followed the Federal Reserve and European Central Bank by extending its QE programme by 10trn yen.

The former UBS trader accused of losing the bank more than $2bn in unauthorised trades owed money to eight payday loan firms when he was arrested last year, a court heard yesterday.

Mark Zinkula, the chief executive of Legal & General Investment Management (LGIM), has become group executive director of Legal & General (L&G).

Markets were trading in the red this afternoon as eurozone worries and a dispute between Japan and China weighed on investor sentiment.