Abbey has announced it will withdraw some mortgage rates from 10pm tonight and will not be replacing them.

Skandia Investment Group (SIG) is considering rolling out an overseas version of its UK Strategic Best Ideas fund.

The Bank of England's weekly cash auction has seen a huge upsurge in demand as the money markets become increasingly strained.

The UK is likely to suffer a recession over the next twelve months, but it will be mild in comparison to those of the past, according to Andrew Sentence, a member of the Monetary Policy Committee (MPC).

The US Treasury is "forcing through the system" in a "typical" fashion in its $700bn attempt to bail-out financial markets, according to World Bank President Robert Zoellick.

The Alternative Investment Management Association (AIMA) is urging regulators to end their bans on short-selling arguing it "doubts" whether the moves will achieve their intended results.

Former John Charcol finance head Nigel Ward has joined Money Portal as group chief financial officer as the group continues to grow its new-look management team.

The FSA has fined a mortgage lender for the first time for exposing its borrowers to financial loss.

Leading insurers are leaving HBOS staff out in the cold by refusing them payment protection insurance (PPI) at a time when they may need it most, according to Burgesses.

Shares in London remained broadly stable as markets opened, with the FTSE 100 up 0.25 points (less than 0.01%) to 5,095.8.