Markets

Private bank and wealth manager C. Hoare & Co has shifted its asset allocation focus from the US to Europe for 2013 ahead of an expected boost for the single currency.

The future stability of the global economy has been threatened by the Bank of England and six of the largest central banks issuing close to $6trn of "essentially free" money since the financial crisis, according to PIMCO's Bill Gross.

Baring Asset Management has appointed Nicola Hayes as head of client service and relationship development.

Smith & Williamson Investment Management has appointed Mickey Morrissey as head of UK IFA sales in a push to grow its discretionary fund management service.

Kames Capital's head of investment strategy Bill Dinning has quit his role to become an investment strategist for Coal Pension Trustee Services.

A wealth manager has launched a platform centered on discretionary fund management that claims to reduce costs for advisers.

Peter Webb, the manager of the two worst-performing funds of 2012, has described his frustrations in trying to sell many of the "illiquid" positions he inherited on the portfolios, and his hopes for a turnaround in performance this year.

Global equities are rallying hard as strong data from China and a deal to avert the US fiscal cliff give cause for optimism.

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A leading thinktank has urged the government to take drastic steps to stimulate economic growth in the UK, as another forecast a 50/50 chance of a triple-dip recession.