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Three million people in the UK part with more than £3.5bn a year to mass-marketed scams, a study by the Office of Fair Trading (OFT) suggests.

Chancellor Alistair Darling is understood to be close to temporarily abandoning the Government's fiscal rules rather than changing them when he presents his pre-Budget report later this autumn, The Independent reports.

Struggling howeowners in negative equity will be unable to benefit from the Government's mortgage rescue package, according to The Times.

Stockmarket volatility is prompting a flight to short-term safety as IFAs advise clients to invest in cash and bonds, according to the Virgin Money Investor Intentions Index.

Two former Credit Suisse brokers each face a $5m fine and up to 20 years in jail after being charged with fraudulently selling complex US securities to clients in order to boost their commissions, according to The Times.

The Korea Development Bank is said to be negotiating to buy a 25% stake in troubled US investment bank Lehman Brothers but the deal could be blown apart by the emergence of HSBC as a potential bidder, a major Korean newspaper reported today, according...

Large cap stocks continue to offer the best value in UK equities, according to Santander's Hak Salih.

Sterling tumbled to a record low against the euro yesterday and to its weakest level against the dollar for over two years after Alistair Darling's weekend comments about the economy facing its biggest challenge for 60 years, The Guardian reports.

Alistair Darling's future was in question last night after Whitehall insiders said that he could be involved in an imminent Cabinet reshuffle, The Times reports.

The real rate of inflation for UK pensioners is around 9pc, according to Alexander Forbes Annuity Bureau.