The government should commission a new assessment of the losses suffered by people who saved with Equitable Life, a committee of MPs has said.
The Public Administration Select Committee is calling on the government not to determine a final compensation figure in next week's Spending Review, writes the BBC.
The issue is that there remains much disagreement over how much Equitable Life policy holders have lost.
One report puts the amount at £4.8bn, but a second says it is much lower.
The £4.8bn figure is the calculation of the Parliamentary Ombudsman, Ann Abraham, who also found that government regulators had been guilty of maladministration.
China warning to US over yuan dispute
China has again warned the US not to use the dispute over the value of the Chinese currency, the yuan, as a "scapegoat" for its high unemployment and flagging growth prospects.
The remarks from China's ministry of commerce came hours before the US was due to release a report on whether it considers China a "currency manipulator" as fears grow that tensions over the currency could lead to a protectionist trade war, reports the Telegraph.
The report has been repeatedly delayed despite a growing chorus of demands from US legislators and union bosses for the Obama administration to take tougher action against China's alleged trade distortions.
'We're at risk of financial collapse'- Ken Clarke
The West is in ‘grave danger of financial collapse', Kenneth Clarke warned last night.
We face ‘quite the most dramatic' spending cuts in ‘living memory', the former chancellor added as the Coalition prepares to unveil plans to rein in the unprecedented budget deficit left by Labour, writes the Mail.
‘I actually am one of those who believes, with a grave danger of financial collapse, we're not out of the woods in the Western world yet,' he said in the extraordinary address.
‘There is an extremely serious financial crisis," he said.
HSBC close to dropping $8bn Nedbank bid
HSBC could drop out from an $8bn bid for South Africa's Nedbank, a newspaper reported on Friday, which could pave way for rival Standard Chartered plc to get back into the auction, writes Reuters.
HSBC's exclusive talks with Nedbank's majority owner, Old Mutual, are due to expire this weekend and HSBC was not in a position to make an offer before the two-month period finishes, the Financial Times reported, citing people close to the bank.
HSBC, Europe's biggest bank, revealed in August that it was in exclusive talks with Anglo-South African insurer Old Mutual, which owns a 52% stake in South Africa's fourth-biggest bank Nedbank.
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