Global equity markets have eased back from last week's highs despite European financials rallying after regulators softened proposed new rules.

Benchmark ten-year gilt yields have moved back above 2% for the first time since last May as the equity rally is mirrored by a sell-off in core government bonds.

Neptune has launched two income funds, a Russian Special Situations fund and a frontier markets vehicle as it expands its product range.

Strong data from China and a deal to avert the US fiscal cliff have helped push the FTSE 100 past the 6,000 mark for the first time since July 2011.

Former FSA chief executive Hector Sants has been awarded a knighthood in today's New Year honours list.

Invesco Perpetual global equity income managers Paul Boyne (pictured) and Doug McGraw have left the group to take up new roles at a North American firm.

Investec is to merge away its European fund due to its small size.

UK CPI inflation remained at 2.7% in October, broadly in line with economists' expectations, as RPI inflation fell from 3.2% to 3%.

Schroders has reached an agreement to acquire US investment grade fixed income manager STW Fixed Income Management.

Fidelity has hired Peter Kaye from Dalton Strategic Partnership to run its $1.6bn American fund, as current manager Aris Vatis leaves the group.