News

A group of MPs has criticised government attempts to stimulate the economy, including quantitative easing, for being "expensive experiments".

Aegon distribution arms Positive Solutions and Origen pared back losses last year to end the period down £2m, an improvement from £6m losses in 2011, due mainly to cost savings.

Lord Myners, the former City Minister, has condemned lobbying of the government by the financial services industry, which has made fund managers rich at the expense of companies.

The German economy crashed at the end of last year as the crisis in the eurozone spread to the heart of the region.

Aegon has reported new life sales rose to £758m in 2012, up from £738m the year before.

Former Lloyds boss Eric Daniels has told MPs that 50% of mis-selling claims received by the bank related to payment protection insurance (PPI) were bogus, but a lot were paid out in the early days as staff struggled to handle the volume of claims.

Warren Buffett's Berkshire Hathaway has agreed to buy Heinz for $23bn, a 20% premium to yesterday's closing share price.

Keith Richards, who stepped down as distribution director at Tenet today, has been named as the new chief executive of the Personal Finance Society (PFS).

The Financial Services Authority (FSA) has revealed that the number of advisers practising in the summer of last year was down 11.5% on the previous year, a fall of more than one in ten.

The Financial Services Authority (FSA) has clarified that advisers who only advise on passive investments do not meet the requirements needed to call themselves independent.