European leaders have agreed a deal to resolve the region's debt crisis which will include Greek bond holders taking a 50% haircut and see the eurozone bailout fund more than doubled in size.

Fidelity's Anthony Bolton has doubled his holding in banking giant HSBC within his China Special Situations investment trust.

Schroders is to launch a range of Z share classes across its UK fund range next month which do not pay trail commission.

Standard & Poor's has delivered another blow to sentiment across Europe after cutting Spain's long-term credit rating by one notch, from AA to AA-.

The FTSE 100 made up some of the ground lost in recent days, gaining over 100 points in early trading, amid talk in Europe of plans to recapitalise the banking system.

Italy's credit rating has been slashed by ratings agency Moody's, piling more pressure on the beleaguered eurozone.

Japan has said it will consider helping to save Greece as part of a wider bailout plan as it looks to avert a crisis in global growth.

London's blue chip index stood firm in early trading today after yesterday's global sell-off.

Billionaire investor Warren Buffett has retained second spot in Forbes latest list of America's richest people, despite seeing his personal wealth fall by $11bn.

Fidelity has launched low-cost versions of its Multi Asset fund range, run by Trevor Greetham, following moves by peers including Schroders to offer similar investment products.