News

Head of the International Monetary Fund Christine Lagarde has called for the G7 leaders to take urgent action at their upcoming meeting to safeguard the global economic recovery.

Last week's decision by the Swiss National Bank to cap its exchange rate to a minimum of CHF1.20 to the euro will not rescue the Swiss economy, said Jennifer McKeown, senior European economist at Capital Economics.

Investors criticise the government's decision to reverse ‘extension rule' on tax relief.

Fidelity's Ian Spreadbury and Jupiter's John Chatfeild-Roberts were named joint winners of Outstanding Fund Manager award at this year's OBSR Awards, held last night in London.

Former Henderson multi-manager head Mark Harris is to join Eden Financial next week to co-manage its multi-asset fund.

China's attempts to cool rising prices have begun to have an impact, as inflation slowed in August after hitting a three-year high the previous month.

Investec has reached an agreement with Evolution to purchase the Williams de Broe owner in a deal worth £233m.

Neel Kashkari has become head of global equities at PIMCO, while the firm has also strengthened its equity team with two hires from Thornburg Investment Management.

US President Barack Obama last night said the US government will unveil a "more ambitious" deficit reduction plan after urging lawmakers to pass a wide-reaching jobs creation programme worth an estimated $450bn.

The OECD has urged global economies, particularly Europe, to take "credible steps" to curtail debt as it said the recovery has ground to a halt.