The Treasury will guarantee 90% of losses on toxic assets as part of its Asset Protection Scheme (APS), minister confirmed today.

Henderson Group's full year results show its assets under management fell by 16% from £59.2bn at 31 December 2007 to £49.5bn at 31 December 2008.

Salaries and bonuses must not be set according to a market average, the FSA says today, despite citing industry levels as justification for a reported £10m worth of pay rises for its staff.

Investors in the LV= with-profits fund will see their policy values fall by an average of 1.2%.

Nearly 40% of the UK life sector now has a negative outlook on its long term ratings with L&G and NU Life and Pensions facing recent downgrades, according to S&P.

Shares rose in London this morning, continuing yesterday's late rebound, with Royal Bank of Scotland (RBS), Barclays and Lloyds Banking Group leading the way.

The Prime Minister, on the recommendation of the Chancellor, has appointed Andrew Hudson as managing director, Public Services and Growth Directorate, HM Treasury.

The Government has asked the former chief executive of Royal Bank of Scotland, Sir Fred Goodwin, to forgo some of his pension, reports the BBC.

New Adviser Ltd is offering a complete money back guarantee to advisers who participate in its masterclass programme.

A series of interactive workshops highlighting opportunities in the business protection market for financial advisers is being launched by Aegon Scottish Equitable.