The UK economy will grow by 1.4% this year, thinktank the National Institute of Economic and Social Research (NIESR) has forecast.

The UK will be the fastest-growing Western economy next year, according to a survey by accountancy firm Grant Thornton.

Boutique asset manager City Financial is targeting two multi-manager firms as it looks to expand its business through further acquisitions.

F&C saw its assets under management decline by £2.2bn to £90.1bn in the third quarter, despite a further climb in retail inflows, the group revealed today.

Liontrust AM's chief executive John Ions expects John Husselbee's Wealth Solutions service to become a significant part of the business over the next few years, following the takeover earlier this month.

PSigma Investment Management CIO Tom Becket has sold out of the £11bn Invesco Perpetual Income fund after ten years following news of manager Neil Woodford's departure.

J.P. Morgan has reportedly agreed to pay an £8bn ($13bn) fine as part of a settlement with the US over its role in the mortgage-backed securities market, which led to the near-collapse of the US financial system.

Royal Mail shares have fallen in early trading as investors take stock of their positions following the huge surge in the share price of the group over the last few days.

Fitch has become the first ratings agency to threaten a US credit ratings downgrade over the latest debt ceiling impasse.

Rob Gambi has been appointed chief investment officer of Henderson, starting in 2014.