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The administrators to Lehman Brothers in the UK are close to selling a £900m portfolio of sub-prime mortgages, for a price of about 50p in the pound, The Telegraph reports.

Royal Bank of Scotland (RBS) is to use the taxpayer-backed special liquidity scheme (SLS) for as much as £34bn worth of funding, reports The Telegraph.

Britain needs negative interest rates to claw its way out of recession but will instead cut them to 1pc and flood the market with cash through Japanese-style "quantitative easing", according to Legal & General Investment Management.

An early payment scheme that would make £1,000 immediately available to depositors with Kaupthing Singer & Friedlander (Isle of Man) is being proposed.

The world's biggest fraud could have been averted if the Securities and Exchange Commission (SEC) had acted on numerous warnings about Bernard Madoff's financial impropriety years ago, the regulator's chairman admitted last night, The Times reports....

Officials last night began the process of liquidating any remaining assets in Bernard Madoff Investment Securities, the company at the centre of an alleged $50 billion fraud as the Wall Street broker's sons broke their silence to deny any involvement,...

Castlestone Management is gauging investor appetite for a Defensive Equity fund, with a view to launching as early as January.

Bradford & Bingley International in the Isle of Man has again cut its savings rates in response to rate cuts from the Bank of England and European Central Bank.

The head of Barclays bank predicted today that the economic gloom gripping the UK would deepen further, with house prices set to tumble as unemployment figures soar.

UK IFAs can make their businesses more attractive in times of consolidation by using Luxembourg-regulated funds, according to KMG Sicav-SIF.