US

Shares in UK-listed banking giant Standard Chartered have dived in early trading, down 16%, amid allegations the bank assisted in a $250bn money laundering scheme.

Nabeel Mughal and Peter Kaye (pictured), co-managers of the £98m Melchior North American Opportunities fund, name their five most lucrative investments over the past five years.

July US employment figures have come in well ahead of economists' estimates, helping stave off fears of a new US recession, despite a small rise in the unemployment rate to 8.3%.

Ignis' Terry Ewing has revealed the top American brands to watch as he seeks to insulate his £90m American Growth fund from the difficult global macroeconomic environment.

Markets around the globe sold-off overnight after ECB President Mario Draghi failed to provide the stimulus the market had expected to tackle the eurozone crisis.

The New York Stock Exchange cancelled trades in shares which rose as much as 150% yesterday after Knight Capital's electronic trading system malfunctioned.

HSBC has put aside $1.3bn (£830m) in UK customer redress provisions and $700m (£450m) relating to US regulatory and legal issues as it reports $12.7bn in interim pre-tax profit.

US

The US economy has beaten forecasts from analysts after it expanded by 1.5% in Q2.

Almost half the victims of the Bernie Madoff ponzi investment scheme will get their money back after a $1.5bn payout was announced.