News

Economists have suggested scrapping bank holidays in the UK in order to boost the country's struggling economy by as much as £19bn a year.

The chair of the Financial Services Consumer Panel (FSCP) has said the FSA's two-page consumer guide to the Retail Distribution Review (RDR) does not go far enough to explain upcoming changes to financial advice.

Financial secretary to the Treasury, Mark Hoban, was taken out for breakfasts, lunches and dinners 37 times in the 15 months to June 2011, official figures have revealed.

Rathbone Brothers' subsidiary, Rathbone Investment Management, has acquired wealth management firm RM Walkden & Company following a stream of hires.

The Financial Ombudsman Service (FOS) today ruled investors who lost money in an Integrity fund will be considered for compensation to the tune of £1.9m.

Members of workplace pension schemes run by Friends Life increased by 4% between 2010 and 2011, the insurer said.

A cut to a pension credit which rewards over 65s who have made additional savings for retirement, may mean thousands of pensioners will not benefit from the state pension increase this year.

The Bank of England has held interest rates at 0.5% and resisted another round of quantitative easing amid tentative signs of an improvement in the economic outlook.

Compensation payments due to consumers mis-sold Payment Protection Insurance (PPI) slowed in January for the first time since September, with £403m paid in redress.

A financial adviser has been left in "total shock" after five colleagues left his company to form a new business, without, he claims, informing him of their plans.