The Pension Protection Fund has rejected claims it will be forced to cut member benefits as a result of the recession.

Despite yesterdays gains on the back of a rally in retail sales, the FTSE 100 is in decline today, opening at 4,314.51 and registering losses of 1.7% by mid morning.

Royal Bank of Scotland (RBS) is to use the taxpayer-backed special liquidity scheme (SLS) for as much as £34bn worth of funding, reports The Telegraph.

The FSA is preparing to take tough action on senior management personnel at financial services companies after major failings were identified in its handling of Northern Rock.

GLG Partners is to acquire the Societe Generale Asset Management UK, with the transaction expected to close in the second half of Q1 2009.

Further enhancements to the current system for producing, checking and verifying LIBOR have been announced today by the British Bankers' Association (BBA).

Abbey has announced that from tomorrow it is cutting rates by up to 0.6% on its fixed rate mortgages.

UK vehicles from the likes of Newton, Majedie, JO Hambro and Invesco Perpetual have all been given the highest scores for overall performance and low volatility in wealth manager Rowan's latest Making the Grade report.

The number of tenants committing to new leases rose 1.3% in November, attributing the increase to would-be property buyers signing up for short leases while they wait for property prices to fall further, Your Move has revealed.

Service levels are set to become a key battleground for SIPP providers as competition hots up.