All advisers who sold low and medium risk investors Keydata products backed by life settlements face the threat of crippling compensation payouts, after a landmark early decision by the FOS.

Billionaire investor George Soros has warned the Chancellor's austerity budget will return the UK to recession unless the government curbs its spending cuts.

Williams de Broë must fork out £1.4m to the FSCS for its share of a £326m interim levy, an increase of 600% on last year.

Rathbones must find £3.6m to cover its share of the Financial Services Compensation Scheme (FSCS) levy, including £3.2m arising from the failure of Keydata and others.

The FSA has fined Barclays Capital Securities £1.12m for failing to protect and segregate client money held in sterling money market deposits for over eight years.

Martin Weale has called for an immediate 0.25% increase in the Bank of England (BoE) base interest rate, echoing the view of Monetary Policy Committee (MPC) hawk Andrew Sentance.

Millions risk losing out on their state pension because they have not been credited with paying £1.2bn in National Insurance (NI).

The FSA has earmarked Keydata-style traded life policies as a product "generally unsuitable for the mainstream retail market".

The FSA wants the power to ban financial products, cap prices and add risk warnings to products, in a "radical rethink" of consumer protection rules.

Stuart Gulliver, HSBC's new chief executive, has dropped plans to relocate from London to Hong Kong, just days after an announcement that UK bank reforms would be watered down.