Britain's leading banks are facing allegations of mis-selling complex interest rate protection products to hundreds of small businesses.

The Financial Services Authority (FSA) has fined former finance director at Royal Liver Assurance Limited (RLA), George McGregor, £109,000 for entering into contracts on behalf of RLA without authorisation and which benefitted a former RLA employee.

Businesses running final-salary pensions are being "clouted" by the government's quantitative easing (QE) programme, says the National Association of Pension Funds (NAPF).

Operating profits at Aviva UK rose 8% to £1.45bn in 2011, thanks largely to a boost in new sales in its life and pensions division.

US Republican presidential candidate Mitt Romney is the front-runner to challenge Barack Obama for the Presidency after securing the swing state of Ohio on Tuesday night.

Financier Allen Stanford faces up to 20 years in prison after being found guilty of orchestrating a $7bn Ponzi scheme.

Lehman Brothers has emerged from bankruptcy and is now a liquidating company that will begin the process of paying back its creditors and investors before finally being wound up.

A "disorderly" default in Greece could cause more than €1trn (£833bn) damage to the eurozone, a confidential report has warned.

Nationwide Building Society is set to announce today it is entering the pensions market by selling annuities for the first time through its branch network.

Vladimir Putin has claimed a resounding victory in Russia's presidential election, provoking a furious response from opposition activists who alleged that the vote was marred by widespread fraud.