Aberdeen Asset Management chief executive Martin Gilbert said he wants to oust Katherine Garrett-Cox as chief executive of the £2.1bn Alliance Trust.

The Office for Budget Responsibility has revised up its forecast for UK economic growth for 2012 but has cut it for 2013, and said the economy will escape recession.

HM Treasury is pressuring the US government to "carve out" low-risk institutions from FATCA, ahead of a draft paper due this week.

International investors are buying record amounts of UK government bonds as the Bank of England's £75bn QE programme spurs demand, with the yield on the 10-year gilt hitting a new record low.

Administering auto-enrolment is an "absolute nightmare" for large employers, according to Marks & Spencer.

No fund managers will be joining Threadneedle from LVAM following its £8bn outsourcing deal.

The Bank of England has refused to buy a tranche of bonds under its quantitative easing buyback programme after traders drove up prices yesterday.

CHINA - Schroders head of Asia ex-Japan equities, Robin Parbrook, has poured scorn on returns made by investors in China in the last two decades, and warned the country still faces major challenges.

JAPAN - Credit rating agency Moody's has downgraded Japan's sovereign debt rating by one notch, saying weak political leadership has hampered growth.

LV= Asset Management said it expects to see some staff redundancies as it finalises its deal to outsource the management of its funds to Threadneedle.