UK

City bankers are set to face much tougher rules on how much they can be paid from 2011, under rules being discussed by Europe's top regulator, the Telegraph reports.

On what looks likely to be a quiet day for UK corporate news, traders are focused on the US where September's non-farm payrolls numbers are due to be released this afternoon.

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Close Brothers has sold its property fund management business to specialist real estate asset manager Alpha Real Capita (ARC).

Tim Bond, the former head of global asset allocation at Barclays Capital, is joining Odey Asset Management.

Sector specialist Polar Capital plans to launch an emerging markets fund next month for its recently-hired trio from Axa Framlington.

A quartet of insurance giants, including Resolution, considered mounting a multi-billion pound break-up bid for rival Aviva.

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