Chancellor George Osborne warned yesterday tough action to cut the deficit is "unavoidable" to ensure Britain is not on the "road to ruin".

Aegon UK has denied a report suggesting its Dutch parent is preparing to offload its British life and pensions business for £1.5bn.

Jon Mackintosh, partner at Solus, provides his thoughts on this year's PIMS conference, direct form the middle of the Channel

BP will not pay dividends for the remainder of the year as it has to put $20bn (£13.5bn) in a compensation fund for victims of the Gulf oil spill.

The new Government has announced plans for a total shake-up of finanical services regulation to conclude in 2012, which is also the deadline for IFAs to meet RDR requirements.

A total of 26% of borrowers took a fixed rate mortgage in May, which is the highest level since October 2009.

The administrators of Lehman Brothers' Europe business said today they could begin dividing up some £7.3bn from the failed bank early next year if creditors agree to a claims plan.

Standard Life and Zurich are two of the major winners in this year's International Fund and Product Awards organised by Professional Adviser.

Resolution Group, the consolidation vehicle which bought Friends Provident last year, is in talks to buy AXA UK's annuity, protection and group pensions business for £2.75bn.

Chancellor George Osborne is set to reveal this week the Bank of England will take overall charge of regulation of the financial sector and have "oversight" across the FSA.