News

Yields on UK government debt were climbing early this morning following Moody's decision to downgrade the UK's credit rating to Aa1, but equity investors shrugged off the news to send markets higher.

Standard Life Investments(SLI) has agreed a deal to become the first ever Worldwide Partner of the prestigious golf Ryder Cup.

Legal & General (L&G) has increased protection against pension liberation outfits after The Pensions Regulator (TPR) and other bodies highlighted the plight of people taken in by such schemes.

Changes to regulations around income drawdown could result in women soon being able to take a 40% larger income from their plan, according to one provider.

Brewin Dolphin is planning to increase the number of open-ended funds it recommends to clients by 25% in the coming months as it seeks to provide more income plays.

Taube Hodson Stonex Partners (THS) is launching a retail share class for its flagship £592m International Growth and Value fund, after parting company with St James's Place (SJP) late last year.

The Financial Services Authority (FSA) is holding discussions with asset managers over more effective ways to allow groups to close open-ended funds to new investors.

The Royal Bank of Scotland is to reduce the size of its investment bank by as much as £30bn and cut hundreds more jobs as the taxpayer-backed lender attempts to head off growing government pressure to close down the controversial division.

Taxpayers could face a £100 bn bill for the loss of Britain's much-prized AAA credit rating. The staggering sum, equivalent to 5p on the basic rate of income tax, comes from the Treasury's own forecast for a worst-case scenario.

Tens of thousands of pensioners and people approaching retirement have been sold worthless ‘trust' schemes that promised to protect their home if they went into care.