News

Lenders cranked up gross mortgage lending by 21% in May to reach a five-year high of £14.7bn, figures from the Council of Mortgage Lenders have shown.

Standard Life has appointed John Cooper to its workplace executive team in order to assist in the development of the company's workplace business.

The FTSE 100 dropped sharply on Thursday morning following the wider market sell-off, while gilt yields spiked to their high level in over a year, after Fed chairman Ben Bernanke said QE would be slowed later this year.

The Financial Conduct Authority (FCA) has pledged to scrutinise "the whole value chain" - including authorised advisers and pension companies - as part of efforts to stamp out pension liberation fraud.

The emergence of a profits-before-ethics culture in financial services skewed employees' view of the industry's purpose and prevented them from challenging immoral behaviour, the Financial Conduct Authority's enforcement boss has said.

Most elderly people will be required to sell their homes in order to afford to fund care costs, according to care fees planning advisers.

MULTI-ASSET

The Isle of Man has published an Action Plan which includes a review of existing company ownership rules.

Markets across the globe tumbled overnight after the US Federal Reserve announced it may slow down asset purchases by the end of the year.

Five major high street banks and building societies have agreed plans to plug an aggregate capital shortfall which at the beginning of the year stood at £27bn, the Prudential Regulation Authority (PRA) has announced.