BlackRock, the world's largest money manager, has reported its profits fell 11% in the second quarter, as the global downturn in markets cut into fee income.

BlackRock's Andrew Williamson-Jones, manager of the £162m global equity fund, is to leave after nine years at the company.

PIMCO's Bill Gross has predicted the US is poised to fall back into recession amid a climb in unemployment and tough times for corporates.

PIMCO CEO Mohamed El-Erian has dismissed reports tipping him to become the next prime minister of Egypt.

The governor of the Bank of England, Sir Mervyn King, has insisted he did not call for Bob Diamond's scalp before Barclays' former chief executive stepped down.

GMO's Jeremy Grantham has said there will be a number of opportunities for investors to snap up discounted European equities, as the crisis continues to roll on.

A US Senate investigation has uncovered how a "pervasively polluted" culture at HSBC and lax controls left it open to being used to launder dirty money from around the world.

Sanlam's Kokkie Kooyman has been capitalising on the plunge in bank shares caused by the LIBOR scandal, buying into Lloyds, Royal Bank of Scotland and Barclays.

BlackRock has launched a range of funds investing in a number of index trackers, as it moves to compete with the rise in demand for low-cost funds ahead of RDR.

The JPMorgan Chase employee, dubbed the ‘London Whale', who was responsible for an estimated $2bn loss has left the bank.