UK

German Chancellor Angela Merkel and French President Nicolas Sarkozy have hammered out a common position on the euro debt crisis.

UK bank shares have risen after the Treasury Select Committee criticised the Vickers' report on the UK banking sector, arguing its proposed reforms are unclear.

Barings' Toby Nangle has joined Threadneedle as head of multi-asset.

Investment management boutique J O Hambro Capital Management is to be acquired by Australian fund manager BT Investment Management (BTIM) in a £209m deal.

The Treasury Select Committee (TSC) has called for a 12 month delay to the RDR to enable more advisers to reach Level 4, among a series of other concessions, but the FSA has flatly refused any negotiation on a change to its plans.

The industry is split on the merits of the Treasury Select Committee's (TSC) key recommendation to delay the RDR for 12 months until 1 January 2014.

ON UK GROWTH

ON UK INCOME

MURDOCH SHOULD GIVE UP NEWS CORP

MAM Funds has closed Sam Liddle's CF Midas Global Income fund after assets dwindled to the point it was no longer economical to run.