News

Operation Twist - the Federal Reserve's latest attempt to boost economic growth in the US - sent markets globally tumbling overnight, with major indices in the US and Asia shedding up to 3%.

Tim Breedon, CEO of insurance group Legal & General (L&G), is to retire from the company at the end of 2012, when he will have completed a quarter of a century at the insurer.

Billionaire investor Warren Buffett has retained second spot in Forbes latest list of America's richest people, despite seeing his personal wealth fall by $11bn.

The Federal Reserve will not pump extra money into the ailing US economy, but policymakers last night unveiled a new scheme which they hope will stimulate growth.

BlackRock has launched an emerging markets equity income fund targeting a minimum yield of 30% above the MCSI Emerging Markets Equity index.

London's blue chip index remained in the red mid-afternoon despite gains in the US, with investors cautious ahead of the all-important meeting of the Fed in the US.

Fidelity's Anthony Bolton has said he remains a world equity market bull despite a global situation that resembles "a big game of poker".

The case for further QE in the UK "significantly strengthened" in the past month, with any repeat of recent economic woes likely to lead to further stimulus, the MPC has said.

Fidelity has launched low-cost versions of its Multi Asset fund range, run by Trevor Greetham, following moves by peers including Schroders to offer similar investment products.

Imperial Tobacco, one of Neil Woodford's top 10 stocks across his income portfolios, has reported full-year trading will be in line with previous forecasts, with its share price rising over 2% in reaction.