News

Brian Gallagher, manager of the £22m UBS Equity Income fund, has left the firm, with his fund handed over to Edward Peter-Hoblyn and Richard Lloyd.

Peter Mandelson, the Labour party peer and former European Commissioner, has warned Europe is facing not one but four crises which policymakers must tackle.

PIMCO chief executive Bill Gross has increased exposure to mortgage-backed securities (MBS), widely blamed for the collapse of the US financial system in 2008 and the cause of the credit crunch, on his $242bn Total Return fund.

Unemployment in the UK increased by 114,000 for the three months to August to 2.57m people - the highest number since 1994, according to the Office for National Statistics (ONS).

Luxury fashion house Burberry Group, a long standing favourite of Schroders' Richard Buxton, has continued to beat market expectations as the group reported a rise in revenue for the first half of the year.

Paulson & Co, the giant US hedge fund, has warned in a "worst case" scenario it could suffer redemptions equivalent to between a fifth and a quarter of its assets by the end of the year.

US treasury secretary Tim Geithner has warned the European debt crisis is bigger than just recapitalising the continent's banking systems.

The Financial Services Authority and Arch cru investors are caught in a 'Catch 22' deadlock over the release of information about Capita's role in the run up to the funds' suspension.

The head of HM Revenue & Customs (HMRC) is to be quizzed by MPs this afternoon over claims he allowed Goldman Sachs to escape £10m in interest payments on an offshore tax avoidance scheme.

Slovakia has stalled in ratifying measures to revamp the eurozone's European Financial Stability Facility (EFSF) rescue fund, intensifying the threat of contagian within the continent.