UK

The administrator of liquidated fund group Castlestone Management (CML) has said it is "very unlikely" it can rescue the company in its current form based on its assets and liabilities.

Standard & Poor's has downgraded a raft of US and UK banks including HSBC, Barclays, and Goldman Sachs following an overhaul of its ratings criteria.

As George Osborne reveals the Office for Budget Responsibility has revised down growth forecasts in the UK and government borrowing has moved higher, fund managers and economists give their view on 2011's Autumn Statement.

James Murdoch has been re-elected as chairman of beleaguered media group BSkyb despite calls from fund management groups for his resignation.

Chancellor George Osborne has slashed his growth forecast for the next few years but says the UK is unlikely to slide into recession.

The OECD has warned the UK is teetering on the edge of a double-dip recession, and has called for further quantitative easing to support the economy.

George Osborne is expected to crackdown on tax avoidance by the wealthy and support commuters, motorists and small businesses in this week's Autumn Statement, acording to reports.

Former Liontrust CEO Nigel Legge's new fund management venture Vinculum is to launch its first offering, based on a 'no outperformance, no fee' proposition.

Shares in beleaguered travel operator Thomas Cook have jumped 66% after it reached an agreement with its creditors to give it new access to funding, the BBC reports.

Schroders' Richard Buxton has defended his banking positions, saying troubled UK lenders could be returning 15% on equity by 2015.