Economist Nouriel Roubini, known around the world as Dr Doom for forecasting the credit crisis, says Portugal will be the next European country in line for an Irish-style bailout.

Schroders is planning to create a multi-manager product based on its popular Income Maximiser range, which would offer investors a 7% yield and monthly income distribution.

Alastair Mundy, manager of the Investec Cautious Managed fund, believes lowly valued blue-chip equities are possibly the best hedge against any future economic or market uncertainty.

Schroders has unveiled its third yield enhancing Income Maximiser unit trust, which is based upon the group's Global Property Securities fund.

The decision to cut Ross Hollyman's global equity team, which ran less than $1m of internal money, has cost boutique manager Liontrust £781,000.

Tony Maddock, the head of wholesale at SWIP, is moving to Lazard Asset Management to lead the group's third party distribution.

Invesco Perpetual head of investment Neil Woodford is warning investors to not get overly carried away by the China growth story, believing the burgeoning country still faces "huge challenges".

Fundsmith founder Terry Smith, who was once rated the City's top bank analyst, says there is "not a chance" he would invest in the highly problematic banking sector.