Financial planner Informed Choice has criticising the bulk of absolute return funds for charging unjustifiably high fees and lacking consistency of returns.

The US economy has beaten forecasts from analysts after it expanded by 1.5% in Q2.

Sales of UK-listed funds have fallen to their lowest level this year, the Investment Management Association (IMA) has revealed.

Investment bank Citigroup has forecast a 90% chance Greece will leave the euro in the next 12 to 18 months.

The European Commission has cracked down on the fixing of interest rates in the latest twist to the LIBOR scandal, which has dominated headlines in recent weeks.

The number of companies, governments and other institutions facing downgrades doubled in the first half of 2012, according to Fitch Ratings.

Former Cabinet Secretary Lord O'Donnell has emerged as one of the leading frontrunners to take the role of Barclays chairman.

Jim Rogers has dismissed fears of a hard landing in China, saying slowing growth is simply proof the authorities are managing the economy as they intended.

Newton is to launch an Emerging Markets Income fund for Jason Pidcock to complement the manager's existing £2.1bn Asia Income fund.

Aberdeen Asset Management has seen assets under management fall in the second quarter of 2012, after it deliberately curbed inflows into some of its most popular emerging market equity funds.