BlackRock has launched its first drawdown offering for pension schemes to capitalise on the Budget freedoms introduced earlier this month.

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HSBC could spin off its £20bn British retail banking operation, a move which could speed up its potential exit from the UK, the Sunday Times reports.

Labour would make first-time buyers exempt from stamp duty for purchases under £300,000, Ed Miliband is due to announce.

Billionaire Peter Hargreaves has dropped ten places on the Sunday Times Rich List losing about £496m from his personal fortune in the past 12 months.

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Income levels from standard annuities have fallen to all-time low levels just three weeks after pensions freedom and choice was introduced, according to Moneyfacts research.

Rory Percival has been confirmed as the keynote speaker at the Retirement Planner Forum and Awards on 17 June.

Annuities will continue to play an important role in retirement planning and income despite predictions of their demise in favour of drawdown, Billy Burrows has said.

Old Mutual has named Bruce Hemphill as its next group chief executive.