Bill Gross' flagship bond fund has been hit with a wave of redemptions which has left it recording annual outflows for the first time in its history.

Gilt yields hit a new record low yesterday as investors continued to buy up UK debt amid concerns the European Union has not done enough to avert a financial meltdown.

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

Sherborne Investors' Edward Bramson's eagerly-awaited strategic review into F&C has laid out plans to cut costs, leading to staff redundancies.

Sterling and gilt yields have dived following the surprise announcement by the Bank of England it is increasing its quantitative easing programme by £75bn.

UK - The Debt Management Office is considering launching index-linked gilts with a maturity of 50 years in October after the idea of a new batch of ultra-long bonds was proposed to investors.

The Debt Management Office is considering launching index-linked gilts with a maturity of 50 years in October after the idea of a new batch of ultra-long bonds was proposed to investors.

GLOBAL - Markets have slipped back into the red after the Dow Jones posted heavy losses on the opening bell, as fears of a double-dip recession intensify.

Global markets have slipped back into the red after the Dow Jones posted heavy losses on the opening bell, as fears of a double-dip recession intensify.

EUROPE - Investors are flocking to safe haven UK government bonds as they seek shelter from turbulent global markets.