Industry

The Financial Ombudsman Service (FOS) looks set to hold its ground on plans to include the names of businesses involved when it starts publishing final decisions.

The Liberal Democrats are urging Chancellor George Osborne to include a mansion tax on homes worth £2m or more in his Spring Budget announcement.

The Financial Services Authority (FSA) is tightening its oversight of commercial property lending in a move which could increase the cost of loans significantly.

The FSA has fined Fastmoney - a non-advised mortgage and bridging loan contract arranger - £28,000 for failing to ensure that customers were treated fairly.

Lloyds Banking Group confirmed this morning Co-Operative Bank and NBNK Investments are the last two bidders in the running for its 632 branches and retail assets.

The Virgin Money buy-out brings with it both good and bad news, but it is the latter - the £653m loss to taxpayers - that will make all the headlines.

The Treasury has sold Northern Rock plc to a consortium led by Richard Branson's Virgin Money for £747m, at a £650m loss on the £1.4bn of capital it injected into the bank.

Bank of England governor Mervyn King said badly managed banks should be left to fold, as he demanded sweeping powers to force financial institutions to be more transparent.

The FSA and the OFT are consulting on guidance to firms in relation to payment protection products - the first time the FSA has become involved in the design of a specific product.

HMRC is preparing to go to court to challenge Stamp Duty tax avoidance schemes that have cost it £35m in lost revenue.