HSBC has revealed it faces a hefty fine estimated at $1bn by analysts from US regulators for failing to have the right anti money laundering controls in place from 2004 until 2010.

The Federal Reserve announced plans to extend Operation Twist by $267bn (£170bn) as it cut its 2012 growth forecast for the US economy from 2.9% to 2.4%.

CHINA - The head of the IMF pleaded with China to support the eurozone as she warned the global economy is heading for a "lost decade".

Invesco's John Greenwood has warned further QE in the UK is unlikely to lead to a rebound in economic growth as he said there was "no quick fix" to the country's economic woes.

GLOBAL - Emerging economies would face a systemic crisis if foreign investors, who own one-third of EM local currency debt markets, begin to pull out their cash, fund managers have warned.

UK - Aegon's asset management capabilities in the UK has officially been re-branded as Kames Capital today.

Aegon's asset management capabilities in the UK has officially been re-branded as Kames Capital today.

US - Charles Evans, a leading Federal Reserve policymaker, has called on Ben Bernanke to issue further monetary stimulus as inflation higher than the 2% target would not be a "catastrophe".

UK/AUSTRALIA - Innes McKeand has left his post as head of equities at Aegon Asset Management to move to Australia.

Innes McKeand has left his post as head of equities at Aegon Asset Management to move to Australia.