News

The mis-selling of payment protection insurance (PPI) is costing banks hundreds of millions of pounds to put right and has spawned a new crop of claims management companies.

The National Employment Savings Trust (NEST) has lost out on major corporate business because of the restrictions placed on it by the government, according to chief executive Tim Jones.

The Bank of England has kept interest rates on hold for the 44th consecutive month and refrained from launching a fresh round of quantitative easing (QE) after recent data showed the UK exited recession in the third quarter.

Pension experts are urging women to make retirement provision as research shows nearly half (43%) are relying on joint savings with their partners.

The Unbiased website has re-launched with several new search facilities that aim to give a more refined consumer / adviser match.

Interest-only, sub-prime and self-certification mortgage borrowers will start to launch mis-selling claims slowly, but volumes will build to a crescendo, claims management boss said.

Personal Finance Society (PFS) chief executive Fay Goddard is to retire next year after five years in the job.

The Dow shed more than 300 points in yesterday's session as investors questioned re-elected President Barack Obama's commitment to dealing with the US fiscal cliff.

The cost of its contribution to the Financial Services Compensation Scheme has cost Charles Stanley 40% of its pre-tax profit in the last half-year.

Schroders has reported a fall in pre-tax profits for the year to September despite a pick-up in its intermediary business.