Sovereign Funds’ Assets to Gain 60% by 2016, UBS’s Castelli Says

Sovereign wealth funds will increase their assets by 60 percent over the next three years, bolstered by rising income from commodities and exports, according to UBS AG. (UBSN)

Osborne Sticks to Austerity as Investors Say Downgrade Came Late

U.K. Chancellor of the Exchequer George Osborne said he won’t give in to opposition calls to change his economic policy after Moody’s Investors Service’s decision to strip the U.K. of its Aaa status.