More than two thirds of brokers have been unable to source a mortgage for a client over the past two months.

Friends Provident International has opened its first office outside the airport free zone in Dubai.

Britain's five leading high street banks have as much as £95.3bn ($175bn) of distressed assets on their books that may qualify for the American bailout scheme, reports The Times.

Standard Life Investments' (SLI) UK Equity Growth fund has been awarded an AAA rating by Standard & Poor's in recognition of its consistent strong performance.

European markets have a "better than even" chance of ending the year 5-10pc higher than currently standings, according to Baring Asset Management's director of European equities James Buckley.

AIG Life has announced it is closing its £5.7bn Enhanced offering just ten days after suspending withdrawals from the fund.

Cash rich Lighthouse Group is set to take advantage of the current market turmoil to acquire quality financial advice firms.

Parliament has set up a group to discuss and review residence and domicile legislation, yet its intention is unclear, according to Baker Tilly.

Advisers and product providers have reacted angrily to this week's Which? report that asserted equity release is far from ideal for retirees with fiscal deficits.

Talks have stalled in Washington over the US Government's $700bn bank rescue plan, with fingers pointed at Republican Party members for the delay.