Phil Wagstaff is leaving his role as chief executive of Skandia Investment Group just two weeks after joining to become global head of distribution at Henderson Global Investors.

The IMA is changing the Managed sectors to fall into line with the Association of British Insurers (ABI) fund categories.

As George Osborne reveals the Office for Budget Responsibility has revised down growth forecasts in the UK and government borrowing is moved higher, fund managers and economists give their view on 2011's Autumn Statement.

Eurozone leaders' failure to call for ECB intervention on the continent's debt crisis at a press conference yesterday caused the euro to fall to a seven week low against the dollar.

The Bank of England's Monetary Policy Committee voted unanimously in favour of keeping bank rate at a record low of 0.5% and maintaining QE at current levels, while warning inflation is not likely to fall as fast as expected.

The FTSE opened 1% lower on Friday following heavy falls in the US and across Asia overnight, with investors spooked by Spanish bond yields moving perilously close to the critical 7% level yesterday.

Schroders' Richard Buxton has warned investors the chances of the FTSE 100 breaking through the 6,000 level in the next three to five years is remote.

Income giants Jupiter's Anthony Nutt and Invesco Perpetual's Neil Woodford are divided over the likelihood of the UK falling back into recession.

Neil Woodford has revealed his "increasing concern" about the situation in the eurozone as he warns of a European credit crunch and the risk of the UK following Europe into recession next year.

Millionaires favour hedge fund manager Paul Singer, CEO of Elliott Management, as the manager they trust most with their cash, according to an investment club survey.