Wealth firms are growing concerned a regulatory crackdown on bonuses within the UK banking sector could end up impacting the investment management industry.

The bad news continued for embattled retailer Tesco yesterday after its credit rating was downgraded by two key agencies.

The next financial crisis will be sparked by the rise of giant daily dealing bond funds and ETFs, GLG's top performing fixed income manager Jon Mawby has warned.

Old Mutual Global Investors (OMGI) has moved to offload its £437m property fund to Henderson Global Investors, proposing a merger of the portfolio into the Henderson UK Property fund.

Mohamed El-Erian, the former PIMCO chief executive who famously quit the firm after falling out with founder Bill Gross, has invested in the peer-to-peer lending industry.

Markets across Europe have rallied this morning following confirmation the European Central Bank (ECB) has started buying covered bonds.

Shares in Tesco topped the FTSE 100 leaderboard in morning trading, providing some relief for investors as the wider market slipped back once again.

Old Mutual Wealth has finalised a deal to acquire Quilter Cheviot for £585m.

Core government bond yields have tumbled this afternoon, as investors rush back to safe havens and stocks slump amid widespread selling.

UK CPI inflation has fallen to its lowest level in five years, undershooting estimates as the impact of falling petrol prices dragged the headline level down near to 1%.