Equitable Life

COST OF THE LEGAL battle between Equitable Life, its previous auditor Ernst & Young and 15 former directors is expected to exceed £80m unless the case is settled, says the Daily Telegraph.

THE FINANCIAL SERVICES AUTHORITY blocked a bid by Equitable Life in 2003 to buy back a much larger proportion of bonds because the FSA feared it would affect the firm solvency, suggests this morning's Daily Telegraph.

The Equitable Life Members Action Group has urged the Financial Ombudsman to open a fresh investigation into the mutual society's huge overpayment of bonuses during the 1990s, says this morning's Daily Telegraph.

AUDITOR ERNST & YOUNG may yet settle their £2bn case our of court with Equitable Life as the prospect is "inching closer", reports this morning's Guardian newspaper.

A BAN on smoking in pubs and restaurants is likely to lose the Treasury an estimated £1.8bn a year in tax, says this morning's Daily Telegraph .

CONSERVATIVE and Liberal Democrat peers yesterday defeated the Government on key aspects of its Pensions Bill, says this morning's Daily Telegraph.

NEW LABOUR'S drive towards compulsory pensions savings has begun as new Pensions Minister Alan Johnson yesterday proposed to the party conference employees would have to opt out of occupational schemes, says the Times newspaper .

SMOKERS IN their 40s are more likely to die in their 60s than non-smokers, according to a life insurance report published in the Guardian .

FOUR FORMER Equitable Life chief executives face charges of misconduct after the Institute of Actuaries blamed them for damaging the profession's reputation.

Parliamentary ombudsman Ann Abraham has just announced she will "conduct a further investigation into the prudential regulation of Equitable Life".