The Baillie Gifford Pacific Horizon investment trust's net asset value plunged almost 14% in June and July, as the company struggles with large falls in previously sound holdings.

Almost 16,000 people from 15 insolvent pension schemes were rescued by the Pension Protection Fund (PPF) last month.

The FTSE100 fell sharply upon opening this morning, as the leisure sector struggles on gloomy news from Punch Taverns. London's blue chip index is currently 41.70 points lower (0.74%) to 5579.

Three in ten homeowners would rather pay more interest than risk being rejected by another mortgage lender, according to research from Cheltenham & Gloucester.

It's supposed to be the summer but the weather's been awful and so has the mood amongst most property investors (at least according to the results of Reita's latest industry expert survey).

Cruise ship firm Carnival helped the FTSE sail into the black on Tuesday, the blue-chip index climbing 17.9 points, or 0.32%, to 5,620.7 at the close of trading.

The FSA has banned three insurance company directors for misusing client money and failing to keep it notified on a client account deficit.

The FSA has banned three directors of London-based BPS Insure for failing to declare a deficit of around £3m in the firm's client account and that they had misused client money.

Average two-year fixed rates have fallen further in recent weeks to an average of 6.39%, according to Moneyfacts.co.uk.

A protection policy should remain a key consideration for homeowners despite the Government's pledge to provide extra help for mortgage holders who lose their jobs, financial research firm Defaqto says.