News

Ratings agency Moody's has said it may cut the US AAA debt rating, pointing to the "rising possibility" the US will default on its debt obligations.

Former Gartmore manager Guillaume Rambourg has hired Goldman Sachs' Karim Moussalem to work with him on his new hedge fund venture, according to Financial News.

Shares in BSkyB have rebounded after a 3% fall this afternoon as Rupert Murdoch bowed to pressure to withdraw his bid for the remaining 61% of the broadcaster.

The Marlborough Multi Cap Income fund, headed up by Hargreave Hale founder Giles Hargreave, has raised £90m of assets just two weeks since launch.

Threadneedle's head of UK equities Simon Brazier has warned the chance of the UK sliding back into recession is high, but said market short-termism represents an opportunity not a threat.

Chinese growth figures have dropped from 9.7% in the first quarter of this year to 9.5% in the second quarter, as the government struggles to contain rising inflation.

Ian Vose has taken over the management of the £336m Investec Global Dynamic fund following the departure of Jacob Robbins.

Thames River has closed the offshore version of its $3.5m Global Boutiques fund, domiciled in Dublin.

European indices have opened flat in early trading as markets pause for breath after posting losses of over 2% this week, hit by contagion fears across the Continent.

Minutes from the Federal Open Market Committee (FOMC)'s June meeting reveal members are divided over whether a third round of quantitative easing is the best option for the US economic recovery.