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Reports suggest region will be the latest to see fund houses scale back

Online Editor

A downturn in Chinese markets is piling even more pressure on asset managers, with Fidelity International the latest set to cut jobs in the region, 

The fund house is due to axe 16% of roles in its China fund unit, or some 20 people, according to the news agency, which cited individuals familiar with the situation.

Fidelity International job cuts set to hit China staff

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Indexes were lower in Europe’s morning trade, as markets digested hawkish comments from the Fed’s Powell which left investors blindsided, Richard Hunter, Head of Markets at Interactive Investor, said.

European Indexes Fall on Slower U.S. Rate Cut Projections

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