The International Monetary Fund (IMF) has approved a two-year $2.1bn stand-by arrangement for Iceland to bolster the country's efforts to restore confidence and stabilise the economy.

The FSA has come under fire for using members' fees to fund large exhibition stands at "irrelevant" events including motor shows.

Citigroup's share price has plummeted over 20% again this morning, bringing the beleaguered banking giant's declines to 55% in just over two days trading.

Some retirees could find it impossible to release their pension benefits when the Government changes the minimum pension age to 55 in 2010, according to Hornbuckle Mitchell.

Xafinity is offering to pay all legal fees for the purchase of commercial property within its newly launched SIPP for a limited period.

New Star chairman John Duffield has admitted his firm has been "too slow" in reacting to market declines, as it announced a major fund reshuffle and the departure of CIO Stephen Whittaker.

Skandia is replacing several managers on its Global and UK Best Ideas funds who have failed to live up to its performance requirements.

The Association of British Insurers (ABI) is urging the Government to bring forward the launch of auto-enrolment in workplace pensions.

Advisers using Tenet Support Services (TSS) will have access to software that has processed more than £88m in fees and commission in 2008 after the firm signed a deal with technology provider True Potential.

COVER reporter Pete Carvill comments on Skandia's resignation from the Association of British Insurers (ABI).