Switzerland's biggest bank UBS and Deutsche Bank, Germany's largest lender, have both posted sharp falls in profits for Q2 as fees and commissions dwindled in the face of the eurozone crisis.

BlackRock's Richard Plackett is to be joined by Roland Arnold as a co-manager on the £1.4bn UK Special Situations fund.

Moody's has said new ESMA guidelines on ETF stock lending are "credit negative" for asset managers and will hit profitability - but will also spark an uptick in investor interest.

Facebook shares have fallen 15% after the company reported a drastic slowdown in revenue growth and failed to reassure investors on its ability to boost advertising growth.

European stocks are climbing after a four day sell-off, following a pledge from European Central Bank president Mario Draghi that the ECB will "do whatever it takes to preserve the euro".

ETF managers are set to lose out on profits generated by securities lending, under new European regulations published today.

BlackRock has launched the Luxembourg-domiciled BSF Global Absolute Return Bond fund for Ian Winship.

Bestinvest's list of 'dog funds' highlights funds that have underperformed their benchmark by 10% or more cumulatively over the last three years.

There has been a 187% increase in the amount of money sitting in underperforming dog funds this year to £26.5bn, Bestinvest's latest "Spot the dog" list has revealed.

The euro has slipped to an 11-year low against the Japanese yen as Spanish debt woes continue to weigh on the single currency.