News

Fears retiring baby boomers will monopolise resources and limit economic growth for future generations are "nothing to worry about", according to sociologist Frank Ferudi.

Lloyds Banking Group (LBG) has budgeted more than £1m in costs for implementing auto-enrolment to its 107,000-strong staff.

The US Federal Reserve has expanded the scope of its quantitative easing programme and suggested interest rates will not rise until US unemployment falls below 6.5%.

AJ Bell has reported an increase in pre-tax profits of 39% to £26.5m, with assets under administration hitting £17.5bn for the year ended 30 September.

Hargreaves Lansdown chief executive Ian Gorham has sold an interest in 750,000 of the group's shares for £3.35m and reinvested half the proceeds back in the company.

Henderson non-executive chairman Rupert Pennant-Rea is to stand down in May 2013 to take a similar role at Royal London Group.

Employers need to be given a defined line between providing information and advice on pension arrangements, a select committee has been told.

Business secretary Vince Cable has said investors' expectations on possible return from bank stocks are "hopelessly unrealistic".

Directors of Black and White Group, Chris Ollenrenshaw and Thomas Reeh have both been fined a total of £60,000 by the regulator, while Adrian Childs and Ollerenshaw have been banned.

Women are more likely than men to be hit by financial hardship when they retire if their spouse dies before them, according to Prudential.