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Friends Provident has announced it has had a takeover approach from private equity group JC Flowers & Co UK. The offer price was 150p a share, though JC Flowers said this would be reduced in the event that Friends paid shareholders the 2007 final dividend...

The Nobel Prize-winning economist Joseph Stiglitz has blamed the "unconscionable" system of generous bonuses paid to investment bankers for exacerbating the global credit crisis, reports The Independent.

New Star Asset Management and Emirates NBD have launched a Shari'ah-compliant version of the New Star International Property fund for the Gulf market.

New Star has announced it is to launch an Indian equity fund in association with Tata Asset Management, a division of the Indian conglomerate that recently bought car manufacturer Jaguar.

The FTSE recovered from a sluggish opening to finish Wednesday in the black, having advanced 63.3 points, or 1.08%, to 5,915.9.

EQUITY market turmoil is causing almost a third (31pc) of middle-aged and older adults to lose sleep or feel more stressed as a result of their financial position, according to a YouGov survey sponsored by The Hartford.

ALLIANCE Trust Savings has added enhancements to its adviser centre, with the addition of a direct link to a dedicated homepage.

One of Britain's best-known banks, First Direct, shut its doors to new mortgage customers last night amid a growing exodus by lenders that is likely to force up borrowing costs for all home buyers, The Independent reports.

Gold has become the best performing asset class over one, three and 10 years as a result of the current commodity boom.

The Governor of the Bank of England dampened hopes of a cut in interest rates as soon as next week when he issued a renewed warning yesterday that Britain's central bank must take a hard line to ensure that present high levels of inflation are quelled,...