More money left individual savings accounts (ISAs) in November than was paid in, according to figures from the Investment Management Association (IMA), reports the Scotsman .
Net ISA sales came in at minus £3.1m, compared with plus £83m in October, and were down by £82m on November 2005.
IMA figures also revealed retail sales were down to £716m in November, against £1bn 12 months earlier, says the paper.
Funds under management rose 1% from October to £398bn –19% higher than November 2005.
GERMAN CHANCELLOR Angela Merkel today called for the creation of a single transatlantic market through the harmonisation of EU and US regulations on financial instruments and goods, reports the Guardian.
Launching her country's presidency of both the EU and the G8 group of developed countries, Merkel said she wanted to create a single market for investors with common rules on intellectual property, financial regulation and car emissions.
The European Commission, which saw a similar move in 1998 turn to dust, gave a cautious welcome to her comments, saying there were significant gains to be made.
LLOYDS TSB is set to become the first sponsor of the London Olympics in a deal worth an estimated £80m, according to the Independent.
A source close to negotiations said a deal should be completed soon between the bank and the 2012 Games organisers, Locog, which aims to raise up to £750m through sponsorship.
Lloyds is thought to have beaten off competition from the rival banks HSBC, Bank of America and Citigroup, which had been linked to the deal.
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