Markets

Simon Cowan is to join Ignis Asset Management as fund sales director as the group continues to restructure the UK retail business away from the joint venture boutiques.

GLOBAL

THE BIQ QUESTION

The Japanese government is being forced to consider suspending state spending as it emerged it could run out of cash within a month.

QE3

UK shares were making tentative moves higher in mid-morning trading, ahead of the Jackson Hole speech by Federal Reserve chairman Ben Bernanke later today, with other markets also rising.

The Confederation of British Industry and British Chambers of Commerce have each cut their 2012 UK GDP forecasts and called for the government to do more to prompt growth.

PIMCO's Bill Gross said the US economy needs to grow by 3% and upwards for several quarters in order to avoid another round of QE.

Sarasin's managing partner and CIO Guy Monson has stepped down as manager of the group's Global Equity Income and International Equity Income funds.

Barings' Khiem Do has said the chances of the Federal Reserve carrying out QE3 are remote, with economic indicators in the US still "reasonably strong" and by no means justifying further action.