Huang Weimin was a virtual unknown until last year, when it was disclosed that his hedge fund returned a staggering 6,200% betting on the Chinese futures market.

So, reports Bloomberg, external, what is the star manager's advice for investors? Err... sell now, before it's too late. “I’m not optimistic about this year. My advice is to hold cash, wait and watch,” he says.

Image source, Getty Images

Oh dear, this isn't going to help oil prices. Kuwait's Opec governor has said this year will be tough, with oil prices only recovering after 2016 and remaining between $40 and $60 a barrel until 2020.

"The expectation (is) that 2016 will not be an easy year when it comes to prices. They can remain volatile (at) current levels... Prices will remain low," Nawal Al-Fuzaia told an energy forum in Kuwait. "Things will be tough. From now until 2020... I don't think there will be big changes in the oil market in four years. We are talking about $40-60, that is after 2016." 

Any additional crude supplies could weaken prices further, she said, in comments seen as referring to Iran's return to the oil market after the lifting of international sanctions.

Groceries Code Adjudicator Christine Tacon tells a press briefing: "Had I the power to impose a financial penalty for the behaviour identified in this report, I would have considered whether it was appropriate in all the circumstances, and, if it was, what level of penalty should be imposed." 

Asked by MPs whether the media correctly interpreted his first speech of the year, where Carney said he had no timetable for raising interest rates, he said: "My sense of the reporting was that it correctly identified the conditions that would be required for an interest rate hike hadn't come into play, and that those conditions are not yet in place." 

Mr Carney is now being grilled about his speech last week in which he suggested that it's unlikely that interest rates will rise this year.

The exchange between Treasury Select Committee chair Andrew Tyrie and the Bank governor is a bit spikey. Mr Tyrie keeps asking Mr Carney who he consulted before making his speech, which attracted quite a few headlines.

Mr Carney is at pains to point out that the speech he made last week was his personal view on the current financial environment, rather than him speaking on behalf of the Monetary Policy Committee -  although MPC members did see the speech beforehand.

Mr Tyrie continues to push asking whether members of the Financial Policy Committee saw the speech and to what extent the MPC and FPC share information. He doesn't seem entirely convince both committees need to exist.

Tesco chief Dave Lewis replies to strong criticism about the way it treated suppliers.

Image source, PA

Mr Carney tells MPs that although there are global risks to the economy at the moment, the resilience of the UK banking system is fundamentally stronger than in the past. He says the Bank of England stress-tested the banks in a hypothetical environment that was far worse than current global risks.

Here's what Grocery Code Adjudicator Christine Tacon says about Tesco's breach of the rules:  

Mark Carney tells MPs on the Treasury Select Committee that he will make a decision on whether to serve a second term at the Bank of England by the end of the year.

Asked whether now is right the right time to raise interest rates, as the US Federal Reserve has, he says "inflationary pressure at home justified an adjustment in monetary policy in the US". 

Mr Carney points out the US was trying to deal with two problems: inflationary pressure at home and trying to figure out what is going on in the "most closed of the major economies".

He concedes the rise in US interest rates may have made a contribution to global growth concerns.

Tesco says its accepts the report into its treatment of suppliers, and that it has made material changes to the way it operates. The firm says it will continue to build "trusted partnerships with suppliers", but says it has addressed the majority of the historic practices that were criticised.

Image source, Getty Images

Tesco  "seriously breached" rules designed to protect suppliers by prioritising its own finances over treating them fairly, the Groceries Code Adjudicator (GCA), Christine Tacon, has said.

The UK groceries regulator launched an investigation into Tesco last February in the wake of the firm's £263m profit overstatement, revealed in September 2014.

 A separate Serious Fraud Office probe is ongoing. 

Tesco has been ordered to introduce significant changes to practices and systems in relation to suppliers.

Ms Tacon expressed concern about three key issues: Tesco making unilateral deductions from suppliers, the length of time taken to pay money due to suppliers and in some cases an intentional delay in paying suppliers.

BBC Radio 5 Live

The Association of British Insurers' decision to publish the success rate of claims is part of a campaign to improve trust in the industry, ABI director general Huw Edwards tells BBC 5 live.

"We know we have a trust problem," he says. "We cannot earn that trust without being more transparent about how many claims are paid and why a minority of claims are usually declined."

Image source, Getty Images

Andrew Bailey has been appointed chief executive of the Financial Conduct Authority, the Treasury has announced.

He succeeds Tracey McDermott, who has acted as interim chief executive since Martin Wheatley left in September.

Mr Bailey takes up his new role once his successor at the Prudential Regulation Authority has been found.

Mr Bailey has been appointed for a five year term.

The FTSE 100 has eased off earlier steep falls, although it is still down 1.27%. Kingfisher, down 3.3%, is the biggest faller as investors continue to digest its restructuring plan. Gold producer Randgold is the main riser. In Paris, the Cac is down 1.3%, while the Dax is 0.97% lower.

Dixons Carphone chief Seb James has been on 5 live talking about the retailer's trading update for the festive period. Black Friday saw a big boost in sales, with the firm taking about £140m in just one day.

But there was a big rise in sales online, and Mr James thinks that's because many shoppers were put off by last year's crush on high street.

"I think that's quite sensible," said Mr James."Customers saw the scenes that were quite disruptive in some supermarkets last year and decided, I'll play it safe this year and just shop online".