Papers

Aviva, Britain's largest insurer, today paved the way for acquisitions by scrapping its target for dividend payments and topping up its pension fund to the tune of £700m, according to The Times .

HENDERSON GROUP yesterday became a front-runner to buy Gartmore fund management group after shelving a payout to shareholders which will give it the necessary fire power, reports The Times .

A PARLIAMENTARY watchdog's long-awaited report into what went wrong at Equitable Life and whether government departments were at fault, has been delayed and is unlikely to appear until October at the earliest, reports The Guardian .

THE ISLE OF MAN is to abolish corporation tax and cap personal income tax at £100,000 in order to attract wealthy people and entrepreneurs, reports The Daily Telegraph.

CHANCELLOR GORDON BROWN has been thrown a lifeline by additional tax receipts on North Sea oil companies, which have put his budget planning back no track, reports The Daily Telegraph.

EVIDENCE THE mortgage market rebounded in the last six months of 2005 was provided yesterday by Bradford & Bingley (B&B) and Britannia building society, which both revealed they had lent record amounts, reports The Guardian .

THIS MORNING'S papers are all discussing the merger of Merrill Lynch's asset management unit with Blackrock.

THE GOVERNMENT is expecting a fierce battle with the insurance industry which is insisting on higher fees and charges to run the National Pension Saving Scheme (NPSS) than those proposed in Lord Turner's pensions report, according to The Guardian .

PENSIONS campaigners were yesterday gearing up for battle as it emerged the government planned to fight recommendations it should pay compensation for lost pensions, reports The Times .

PENSIONS MINISTER Stephen Timms yesterday confirmed there was no regret in the Government's decision to tax company pension schemes to the tune of £5bn a year, reports The Scotsman .