Equities

UK shares had a shaky start to the week as negotiations over the US debt ceiling continue to drag on.

Matthews Asia, the US-based Asia-only fund house, is set to make a further push into the UK market after three years of preparatory work.

Equities were the best-selling asset class in August for the fifth month in a row, with over £1bn in inflows, according to the latest Investment Management Association (IMA) statistics.

BEHAVIOURAL FINANCE

The Royal Mail is to float next month, with the company valued at up to £3.3bn, the government has said.

Martha Wang, manager of the £2.2bn Fidelity China Focus fund, is taking a career break, with Fidelity hiring BlackRock's Jing Ning to run its flagship China fund.

Tom Walker has handed over management of the Martin Currie North American fund to his co-manager Penny Kyle.

JAPAN

UK Equities

Reigning Premier League champions Manchester United reported record revenues for the 12 months to June yesterday.