Papers

Standard Life has named David Nish, formerly of Scottish Power, as its new finance director, says the Daily Telegraph.

Friends Provident has beaten City expectations with a 40% surge in third-quarter life and pensions sales and a UK market share of 6.9% in the second quarter, says the Guardian .

The Financial Services Authority is set to abandon rules which require financial companies to respond to customer complaints and disputes within a fixed period, says the Independent .

Abbey National has reported a 31% hike in profits, slightly ahead of growth at its Spanish parent Banco Santander, reports the Scotsman .

Worldwide sales at Aviva rose by 22% to £22.7bn during the first nine months of the year, driven by a record performance in its domestic UK market, reports the Times.

Scottish first time buyers are more likely to escape the burden of stamp duty than those across the UK as a whole, according to the Council of Mortgage Lenders, reports the Scotsman .

Standard Life is set to make a profit of more than £100m from its 7.9% holding in Corus as a result of Tata Steel's £4.3bn offer for the steelmaker, says the Daily Telegraph .

Charles Prince, chief executive of Citigroup, ruled out making a bid for Barclays or any other big bank in Western Europe yesterday, ending months of speculation it was planning a significant acquisition in the region, reports the Times .

The Financial Services Authority fears hedge funds are encouraging brokers to commit market abuse, reports the Daily Telegraph .

The chancellor has promised to cut the amount of regulatory red tape imposed on British companies by a quarter, reports the Daily Telegraph .