Former Lifemark director Stewart Ford has launched a scathing attack on the FSA in a letter to Financial Secretary to the Treasury Mark Hoban, asking him to "intervene urgently" in the financial restructuring of the troubled fund.

A group of investors in the £6m Keydata International fund have lodged a complaint with the Isle of Man financial ombudsman against the fund's administrator, Blue Sea International.

European Council president Herman van Rompuy warns the euro and wider EU face a "survival crisis" as the continent's sovereign debt crisis escalates.

Norwich & Peterborough Building Society (N&PBS) has had its outlook downgraded from 'stable' to 'negative' by ratings agency Fitch, due in part to its exposure to Keydata.

AIFA policy director Andrew Strange has warned ministers the RDR is likely to be seen as a failure because it does not meet the key standards of good regulation, including avoiding constant flux.

Inflation is likely to remain high throughout 2011 but the Monetary Policy Committee (MPC) is more divided than usual over the reasons why, the Bank of England Governor says.

Mark Hoban, Financial Secretary to the Treasury, says the government has done what it can to help lending to small business and now the banks must take the lead.

The index of 100 leading shares was down more than 1% just after 9am after flat trading on Wall Street and in Asia, with investors awaiting British inflation numbers.

Eurozone ministers are poised to meet in Brussels as the debt crisis once again threatens the economic stability of the 16-member bloc.

John Cridland will take the helm at the Confederation of British Industry (CBI) in January when current director general Richard Lambert steps down after four years.