US markets have fallen to three-month lows during trading today as the eurozone worries that resurfaced last week show little sign of subsiding.

Fund groups are scrambling to develop risk-rated propositions ahead of the RDR deadline at the end of this year, with major houses including Jupiter planning how to enter the space.

Newton is to launch a Managed Income fund to retail and institutional clients, giving investors a single port of call for access to strategies run by Tineke Frikkee, James Harries, Jason Pidcock and others.

Wells Capital has acquired fellow discretionary firm Reeves Investment Management in a deal which increases its assets under management by more than £50m.

RBS has revised its Bank of England forecasts, scrapping its prediction of further QE and forecasting an initial hike in UK interest rates in the second quarter of next year.

Updated at 13.00: The FTSE 100 was 1.8% lower on Monday after poor German manufacturing data drove down indices across Europe.

Franklin Templeton is launching an Africa fund for veteran investor Mark Mobius, making it the latest fund group to test investor appetite for the world's second-largest continent.

Franklin Templeton is to close two of its UK OEICs and merge away two others following a review of its UK domiciled fund range.

Anthony Bolton is to extend his tenure as manager of Fidelity China Special Situations until April 2014.

The FTSE 100 fell 50 points, or just under 0.9%, in early trading on Tuesday as investors got their first opportunity to act on a disappointing US jobs report on Friday.