Economics / Markets

Zurich UK Life delivered a business operating profit of £186m for 2012, up 9% on the previous year, a result Zurich said reflects a focus on writing quality business and controlling costs.

Standard Life is in discussions to acquire the private client business of Newton Investment Management for up to £90m, according to a report.

Labour leader Ed Miliband is set to condemn the government's decision to scrap the 50p tax rate in a wide critique of the coalition's economic policies, as the political battle lines are drawn ahead of next month's Budget.

The Bank of England's Monetary Policy Committee will tolerate missing the inflation target for the next two years in order to support the UK recovery, said Bank governor Mervyn King.

The UK will avoid falling into a 'triple dip' recession but external forces still threaten the economy, according to the Confederation of British Industry (CBI).

TCF

UK CPI inflation stood at 2.7% for the fourth consecutive month in January, but fears over longer-term forecasts sent sterling to a six month low in early trading.

CHINA'S YEAR OF THE SNAKE

FIVE THINGS

Firms are "cautiously optimistic" about the future, according to the Institute of Financial Planning (IFP), though some are still struggling to implement changes to their back office systems post-Retail Distribution Review (RDR).