The gold spot price rose to its highest level this year yesterday as global equity markets started the quarter with strong rises.

Former Skandia CIO Clive Hale, Ex-Saltus partner Dan Kemp (pictured) and former MAM fund manager Sam Liddle have teamed up to launch consultancy business Albemarle Street Partners.

The Spanish government has announced €40bn in spending cuts and budget savings in its latest attempt to turnaround the country's struggling economy.

Close Brothers has reported a 2% rise in full-year pre-tax profits and expects its asset management division to return to profitability next year as it completes a restructuring.

Threadneedle has launched a multi-asset absolute return fund for new hire Toby Nangle who joined the group this year from Barings.

ECB president Mario Draghi has outlined details of a plan to buy unlimited amounts of eurozone nations' short-dated debt in an effort to stem the eurozone crisis.

Scottish Widows Investment Partnership has hired BlackRock's Calum Smith to the newly-created role of head of global aggregate in its fixed income team.

Principal Investment Management has acquired discretionary investment manager Iain Nicholson Investment as it expands its presence in the regions.

Schroders is to launch a Global Macro Bond fund for Bob Jolly, a long/short fixed income vehicle targeting a yield of LIBOR plus 8%.

The Confederation of British Industry and British Chambers of Commerce have each cut their 2012 UK GDP forecasts and called for the government to do more to prompt growth.