The top rate of VAT has risen from 17.5% to 20% as the government looks to boost tax revenues to cut the UK's debt levels.

Britain's biggest banks are set to pocket around £1bn in profits every single week this year, according to City estimates.

We would like to wish all our readers a very Merry Christmas and a Happy New Year.

AT8's Mark Loosmore examines the impact of Mortgage Brain's acquisition of TrigoldCrystal.

MANAGER PREDICTIONS

Gartmore's shares slumped 9.35% this morning to 95p, pushing the fund manager to top of the losers' board across the whole of the FTSE350.

Mortgage Brain has bought the TrigoldCrystal Group for £6.8m or an alternate combination of cash, loan notes and shares totalling £9.9m.

Lloyds Banking Group's outgoing chief executive, Eric Daniels, is to launch a major drive to improve the transparency of the lender's financial products in his last three months in charge.

The shortlists have now been unveiled for the investment, adviser servicing and retirement planning categories for the Professional Adviser Awards 2011.

The end of the year usually brings the obligatory look-backs and crystal ball gazing into the 12 months ahead.