News

The Dow Jones Industrial Average rose by almost 500 points overnight as US indices jumped following news of co-ordinated central bank action to ease liquidity concerns.

Some 2,000 British pensioners set to lose bonds worth a total of £46m may revive legal action against the bank that issued them.

First State's star fund manager Angus Tulloch has warned the Chinese authorities will struggle to stop the country's GDP contracting as the repercussions from stimulus measures come home to roost.

The government has confirmed the credit crunch which plagued markets in 2008 has returned.

The FTSE 100 has moved 3% higher after the world's major central banks announced a move to boost liquidity within the financial system.

The yield on 1-year German bunds turned negative today for the first time ever, according to Bloomberg data, as the European Central Bank looks set to ramp up measures to fight the debt crisis.

Bill Gross' $240bn Pimco Total Return fund has fallen behind 92% of his bond manager peers in terms of calendar year performance.

HSBC GAM has launched a Luxembourg-domiciled frontier markets fund, the HSBC GIF Frontier Markets fund.

Ratings agency Fitch has said the updated fiscal and economic projections from the UK's Office for Budget Responsibility mark a "significant deterioration" in prospects.

Today the People's Bank of China (PBC) has slashed reserve requirements for all banks by 50 basis points from December 5.