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The decoupling argument for emerging markets always had a hollow ring to it, according to New Star's Richard Pease.

Stephen Hester, the new boss parachuted into Royal Bank of Scotland, has been hired on a salary of £1.2m and been awarded shares worth more than £6m to overhaul the bank, The Guardian reports.

The new US president faces an economic environment more fraught with challenges than any time since 1933, according to John J. Hardy of Saxo Bank.

The chief executive of Barclays has written to all 150,000 staff in an attempt to defend the bank's decision to raise £5.8bn from Abu Dhabi and Qatari investors rather than tap the Government for funds, reports The Telegraph.

Jupiter Asset Management has been appointed investment manager for the Landsbanki Luxembourg Investment Fund.

Principal Global Investors has launched its Dublin-domiciled PGIF fund range in Italy.

Abbey International has decreased the interest rates payable on its range of offshore savings accounts, following the recent 0.5% cut in the sterling, euro and US dollar rates.

Keydata International has launched a Cayman Islands-domiciled renewables fund.

Castlestone Management has appointed Peter Andersson as business development manager for the Nordic region.

The Bank of England faces a chorus of demands to take radical action on interest rates by making a 1 percentage point cut this week to avert the threat of a lengthy recession, according to a report in The Daily Telegraph.