News

Dexia, the Franco-Belgian bank, has agreed to nationalise its Belgian banking division and secure state guarantees as part of a multi-billion euro rescue plan.

One of legendary hedge fund manager John Paulson's flagship portfolios is down almost 50% in 2011.

Business secretary Vince Cable has met with a group of top UK fund managers to demand they put more pressure on company boards to deliver better long-term value for shareholders and the UK.

Italian and Spanish government debt have both been downgraded by the Fitch credit rating agency.

Managers fear France could be the next European nation in line for a downgrade as it steps in to support beleaguered bank Dexia.

Fund buyers have said Jupiter is still the fund group of choice for financials exposure following Philip Gibbs' decision to step back from the sector.

More than 150 UK domiciled funds - equivalent to 12% of the total universe of funds today - have raised annual management fees over the past decade, a new Lipper study has revealed.

GLG Partners is to close its £7m Asia Pacific fund, managed by the group's co-heads of emerging markets,as well as its Global Emerging Markets offering.

SOLVING THE DEBT CRISIS

US equity markets have opened higher as markets react to better than expected US jobs data for September.