IFAs have reacted angrily to Standard Life's announcement it has stripped 5% off the value of its Sterling Pension Fund, accusing the group of taking money under false pretences.

Fidelity will use a covered call derivatives strategy to help target an initial yield of 7.1% on its new Enhanced Income fund, set to launch on 2 February.

Financial stocks dragged the FTSE ahead of the news that the UK has been officially declared as being in a recession.

Lloyds TSB has revealed it received over 27,000 requests from customers to overpay their mortgage since November's sharp interest rate cut.

Gross domestic product (GDP) tumbled by 1.5% in the final quarter of 2008, figures show, putting the UK into an official recession.

1ST - The Exchange has announced details of its adviser roadshow events, giving expert advice on how to get the most out of the Exweb portal and its integrated partner services.

The Treasury Select Committee has launched an investigation into the protection of UK savers investing in non-UK jurisdictions, in a bid to identify lessons learnt from the banking crisis.

Sterling has continued its nosedive as it hits a 10 year low against the US dollar, sinking to $1.3751.

Friends Provident International (FPI) has launched Summit, a single premium product for long-term investors in the Middle East.

Bradford & Bingley International has reduced its sterling rates following the Bank of England Base Rate cut of 0.5%.