News

A government cap of £75,000 on long-term care (LTC) costs reported yesterday will benefit 'very few' of the people actually in LTC, according to advisers and industry experts.

House prices ended 2012 on a high with growth in the final quarter of the year, according to the latest Halifax house price index.

Cheshire-based financial planning firm Clarion has split its business in two creating a wealth management and an investment management arm.

Charles Stanley has appointed Douglas McNeill as investment director for its new direct-to-client service, due to launch at the end of March.

The Financial Ombudsman Service (FOS) will change the wording on its rulings to say that consumers who it has awarded compensation to can also pursue a legal case for redress following a High Court decision last week.

David Cameron and Nick Clegg will reaffirm their commitment to reforming the state pension in a mid-term review of the coalition's progress.

Just under a third (31%) of financial advisers believe that stagnant or negative UK GDP growth will be the biggest challenge to investment growth in 2013, according to the latest Barings Investment Barometer.

The final cost to the country's banks for payment protection insurance (PPI) mis-selling is likely to be about £25bn, according to The Times.

Elderly people will now have to pay £75,000 towards their care home bills before the government steps in to provide financial help.

International banks have given greater flexibility and a longer deadline to meet Basel III liquidity rules.