News

Financial planner and asset manager Ashcourt Rowan has announced a pre-tax loss of £2.32m for the year ending 31 March, against £5.75m in the previous year.

The Scottish police and HM Revenue & Customs (HMRC) plan to add a layer of anti-fraud checks to mortgage applications in a crackdown on money laundering.

The Financial Services Authority (FSA) has laid bare some of the sales practices adopted by firms in the now-defunct sale and rent back (SRB) market, including evidence one firm charged clients up to £40,000 on single transactions.

The majority of people in capped drawdown are not taking an income from their pension fund and leaving their estate open to 55% tax charges on death, Skandia has warned.

Lighthouse Group shareholders have voted against plans to delist the company from the AIM stock exchange.

The management at Swindon-based Intrinsic Financial Services has bought out shareholder Lloyds Banking Group in a bid to make the company saleable.

Footballing giant Manchester United has said it plans to raise as much as $330m (£210m) in a share sale in New York, to help pay down its debts.

Capital Economics expects the Bank of England to cut the UK's base rate from 0.5% in an effort to stimulate growth, after last week's GDP figure showed the economy is shrinking faster than feared.

Switzerland's biggest bank UBS and Deutsche Bank, Germany's largest lender, have both posted sharp falls in profits for Q2 as fees and commissions dwindled in the face of the eurozone crisis.

Revenues at AFH Financial were up 20% compared to last year to just over £3m, its interim results have shown.