News

Swiss banking giant Credit Suisse will cut another 1,500 jobs from its global workforce of 50,700 despite profits rising in Q3, the BBC has reported.

No fund managers will be joining Threadneedle from LVAM following its £8bn outsourcing deal, as revealed by Investment Week earlier this month.

Rathbone Unit Trust Management has seen its fourth consecutive quarter of net inflows, but assets under management fell after the market sell-off.

Greece sent markets tumbling overnight and this morning after announcing plans to hold a referendum on the European debt deal designed to save the country.

Schroders is set to soft-close its European Alpha Plus fund, managed by Leon Howard-Spink.

Jupiter is to rename its Jupiter European Absolute Return fund as it merges with the Jupiter Europa hedge fund.

Barclays has written down the value of its stake in asset manager BlackRock after a sharp fall in the US firm's share price.

US brokerage MF Global is set to file for Chapter 11 bankruptcy protection over its £4bn eurozone debt exposure, the BBC reports.

Germany's debt to GDP ratio is set to fall by 2.6 percentage points after officials discovered an accounting error at a government-owned bad bank.

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