News

The Financial Conduct Authority will conduct an investigation into Tesco after the firm overstated its estimated half-year profits by £250m.

A Corporate Chartered financial planning business has been told to compensate a client who was recommended to invest £50,000 in a bond based on senior US life settlement policies, following a final ruling by the Financial Ombudsman Service (FOS).

The government should pay for the guidance guarantee's first year of operation instead of charging the industry through a levy, according to MGM Advantage.

The Skandia name is to disappear as the group rebrands as Old Mutual Wealth across all UK operations.

Wake-up packs for people approaching retirement should be scrapped in favour of a simple pensions passport to help make it easier to shop around, Hargreaves Lansdown has said.

The Budget pension freedoms are a tax collection measure set to drive short-term spending with long-term consequences, Punter Southall has argued.

Pensions campaigner Ros Altmann is leading calls for a ban on automatic annuity purchases.

National advisory group Lighthouse has reported a near-£90k profit for the first six months of the year, up from a £232k loss in 2013, as average adviser earnings rose.

The Investment Management Association (IMA) made a surplus of £188,000 in 2013, reversing a deficit for the previous 12 months, after a significant jump in revenues from membership fees.

Shares in the largest Scottish companies - in particular the banks - helped power the FTSE 100 higher this morning after the results of the Scottish referendum revealed the country had voted to remain part of the UK.