Wealth manager Brooks Macdonald has announced a spate of acquisitions alongside a hike in profits which have jumped 17% to £8.5m year-on-year.

Shares in UK defence contractor BAE Systems reversed a late rally last night to fall 9% this morning, after announcing it was in talks with European peer EADs about a merger.

Invesco Perpetual has appointed David Millar, Dave Jubb and Richard Batty to form a new multi-asset group as part of a drive to expand its business.

Investment boutique Dominion Fund Management has launched a global trends product, designed to capitalise on the growth of ten specific global sectors.

Chief executive officer and chairman of Legg Mason Mark Fetting is to step down on 1 October.

SVM's Colin McLean has revamped the mandate of the £4m UK Emerging Fund plc and sold half the stocks in the portfolio, following the departure of manager Donald Robertson.

BP has moved to offload a chunk of its oil and gas fields in the Gulf of Mexico in a deal worth $5.5bn (£3.4bn), as the oil major continues to raise cash to cover the cost of the catastrophe in 2010.

UK asset managers are readying their contingency plans to cope with a possible ‘Grexit' as the beleaguered economy returns to the spotlight, despite ECB president Mario Draghi providing a boost for European markets last week.

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GLG has unveiled RDR-ready unbundled share classes across its UK-domiciled range.