PIMCO's Bill Gross said the US economy needs to grow by 3% and upwards for several quarters in order to avoid another round of QE.

Matrix Group is closing both its UCITS platform and its Asia sub-fund later this year.

Shares across Europe were lower in trading this morning as concerns mounted ahead of a key gathering of central bankers on Friday.

Carmignac Gestion has followed Legg Mason in adding some of its flagship funds to the IMA's sector listings for the first time, while PIMCO is understood to be in talks to make a similar move.

AstraZeneca has named Pascal Soriot, Roche's chief operating officer of pharmaceuticals, as its new chief executive officer.

HSBC is in talks to settle with US regulators over a money laundering investigation, but increased regulatory scrutiny has led to S&P cutting the bank's credit rating.

European markets rose in early trading as investors awaited a meeting on Greece's future and possible anti-crisis action from policymakers.

Apple has overtaken Microsoft as the most valuable company of all time after its share price surged yesterday, pushing the value of the company to $623bn.

PIMCO's Bill Gross has questioned the long term inflation-adjusted returns of equities and argues the "cult of equity is dying" to be replaced by the "cult of inflation".

Standard & Poor's has cut its outlook on Tesco to negative in the belief declining profitability may force it to cut the UK retailer's credit rating in future.