On Wall Street, shares surged forward on the back of positive earnings reports for companies across the world.

More than 40 advisers are battling for a single position as competition for IFA jobs intensifies in the recession.

The Financial Services Consumer Panel (FSCP) is concerned about the ability of advisers to cope with the growing complexity of retirement income products.

Keydata founder Stewart Ford has lost a legal battle to prevent the FSA from accessing a computer server as part of its investigation into the firm.

Variable annuities are more suited to older people who are still working, rather than those in retirement, according to Just Retirement.

London shares were in positive territory this morning, led by telecoms giant BT Group.

Aviva and Prudential are the most likely to gain from consolidation in the UK life assurance industry, according to Deutsche Bank.

Just Retirement saw record business levels in the second quarter of 2009, though it was not enough to prevent the group from posting a sales decline in the 2008/09 financial year.

Risk appetite among investors in July was at its highest level since mid-2004, according to a survey by State Street Global Markets.

In the US, blue-chip stocks trailed as investor sentiment turned cautious after a two-week rally.