Papers

BRIAN STEWART intends to step down as chairman of Standard Life within 12 months of its forthcoming £5bn flotation to focus on his chairmanship of Scottish & Newcastle (S&N), reports The Times .

NATIONWIDE MUTUAL, the American owner of fund manager Gartmore, has decided against selling the whole of the asset management business but is instead looking to sell its UK operations, reports The Telegraph .

THIS MORNING'S papers are full of reports on Arcadia's decision that its 3,600 members of staff must work longer and pay more if they want to keep their current final salary pension scheme.

THE BRITISH PROPERTY Federation (BPF) is to ask the Government for last-minute changes to the legislation for real estate investment trusts (Reits) amid criticism from industry, reports the Financial Times.

NICK PRETTEJOHN is to become the new head of Prudential's insurance business by January when current head Mark Wood leaves.

There is no "compelling case" for an interest rate cut, even though the economy will grow by just 1.7pc this year, the Organisation for Economic Co-operation and Development OECD reports the Tlegraph

The Scottish Equitable name may disappear from the industry following a business restructuring announced by owner Aegon, reports The Scotsman.

Fidelity's announcement that top-performing fund manager Anthony Bolton's Special Situations fund is to be split in two with a different manager taking over one has drawn wide ranging commentary.

Failure to provide ‘light touch' regulation is strangling stakeholder according to the ABI, which has lashed the FSA over its handling of the regime, reports The Times .

Rising energy prices have forced the Confederation of British Industry (CBI) to cut its forecast for the UK economy this year and next, report most papers today.