The Pensions Regulator (TPR) has moved to relax rules governing some UK pension schemes as low gilt yields are leaving hundreds underfunded.

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A FINE MESS

The UK economy contracted by 0.2% in the first quarter of the year, meaning it has slipped back into technical recession, preliminary estimates from the Office for National Statistics (ONS) show.

Standard Life's retail platform assets rose 26% in the first quarter of the year compared with the same period in 2011, as the group added an extra 41 adviser firms on its wrap.

MYTHBUSTERS

KEVIN CARR

The Financial Services Authority (FSA) has lost a test case involving UBS in which it tried for the first time to punish a senior manager for inadequate supervision rather than for errors he personally committed.

Chancellor George Osborne has played down plans to limit tax relief for charitable giving.

Banks and consumer groups are to meet on Monday with a view to "restoring trust" in the process of making payment protection insurance (PPI) claims direct to the provider.