Novia's ongoing arrangement to build and administer Aegon's platform netted the group's subsidiary £1m in 2012, the latest results have revealed.

Official consumer prices index (CPI) inflation is expected to dip this week when official figures are released.

Former US Treasury Secretary Larry Summers has withdrawn his candidacy to succeed Ben Bernanke as head of the US central bank, the Federal Reserve.

The Association of Private Client Investment Managers and Stockbrokers (APCIMS) is planning to rebrand as the Wealth Management Association to better reflect its membership.

Analysts at the Bank of America Merrill Lynch have tipped the FTSE 100 to rise to 7,400 next year, citing the strengthening economy and an accommodating central bank as reasons why stocks can reach such highs.

Aviva Investors is to close its UK Special Situations fund after one of its managers, ex-Schroders UK equities head Richard Buxton, joined Old Mutual Global Investors.

Hargreaves Lansdown has moved to officially challenge HM Revenue & Custom's (HMRC's) decision to impose a tax on platform rebates paid to consumers, after the revenue's move to introduce the tax earlier this year.

Platform Novia is to launch its own fund management arm in the final quarter of the year, providing advisers with a range of risk-rated portfolios to offer to clients.

The Co-operative group has been hit with more than half a billion pounds worth of losses in the first half of this year, after sizeable write-offs at its troubled banking arm.

Sterling dropped and then recovered sharply minutes after new Bank of England Governor Mark Carney told the world he has no plans to raise rates any time soon, but was upbeat on UK growth.