Papers

STANDARD LIFE has announced its deputy chairman, Gerry Grimstone, will succeed Sir Brian Stewart to become chairman when he steps down in May, says the Times.

The Financial Services Authority is coming under mounting pressure from City investors to clarify the rules which apply to foreign companies listing their shares in London, says the Guardian .

Richard Pym is to step down as chief executive of Alliance & Leicester after five years in the role, says the Daily Telegraph .

Prudential yesterday cheered its millions of with-profits policyholders with news final payout values have been boosted by up to 17.5% and the majority of mortgage endowments are on track to pay off home loans, says the Guardian .

Kensington Group, the specialist lender for customers with patchy credit histories, has put itself up for sale in what could be a £500m deal, says the Scotsman .

Higher interest rates could be starting to bite in the property market as the monthly rate of increase in house prices in February slowed to the lowest in five years, says the Daily Telegraph .

House prices are rising at their slowest pace since last June, giving further signs the nation's booming housing market may be running out of steam, reports the Guardian.

The Bank of England signalled yesterday it may need to raise interest rates one more time in the near future to ensure inflation remains under control, according to the Guardian .

One in 20 teenagers does not believe money borrowed on a credit card needs to be repaid, according to a study conducted by the Personal Finance Education Group, reports the Financial Times .

Mortgage lender Bradford & Bingley today reported a fall in annual profits after a hefty provision for endowment mis-selling claims, but said its lending had reached a new record, reports the Guardian .