Markets

The FTSE 100 is drifting into lower territory this morning, with miners and Olympic security firm G4S all acting as a drag on the wider market.

L&C CIO

ON UK GROWTH

Carmignac Gestion has followed Legg Mason in adding some of its flagship funds to the IMA's sector listings for the first time, while PIMCO is understood to be in talks to make a similar move.

Investec Asset Management has appointed Schroders' Michael Spinks as part of an expansion of its $13bn multi-asset offering.

The Office for National Statistics has revised up its estimate of second quarter growth from a 0.7% contraction to a fall of 0.5%.

Bank of England monetary policy committee member Martin Weale has said he would prefer a base rate cut to further quantitative easing, were the Bank to unveil more stimulus measures.

Royal Bank of Scotland (RBS) will be hit with greater fines than Barclays over the LIBOR-fixing scandal, a member of the Treasury select committee has claimed.

The US Republican party is reportedly to look at restoring the link between the dollar and gold as part of its platform for the 2012 elections.

Former Polly Peck International (PPI) owner Asil Nadir has been jailed for ten years for stealing £29m from his businesses 20 years ago, the BBC reports.