Finance ministers from the 17 eurozone countries, known as the eurogroup, are to convene at 4pm GMT today for talks that will focus on the Greek political chaos and fears over the health of Spain's banking sector.
Cyprus's Popular Bank is in negotiations with the government over possible state financing to help it recapitalise from exposure to Greek toxic debt. Popular Bank is the local bank most exposed to the Greek debt crisis, needing to raise an estimated â?¬1.5bn or more in additional capital buffers as required from the European financial authorities.
Investors put more money into Hedge Funds (Fund News)
Investors grappling with volatile financial markets increased their investments in hedge funds over the past month, data from hedge fund administrator GlobeOp shows, indicating renewed confidence in their abilities to cash in on turbulent asset pricing.
Financier Chris Ruffle under investigation over alleged £5m fraud (Fund News)
Chris Ruffle, who helped run the Chinese joint venture of international investment firm Martin Currie Investment Management, is understood to be under investigation over the "fraudulent" use of client funds. The potential action against Mr Ruffle emerged as Martin Currie agreed to pay a record $14m fine for its part in the scandal.