News

Barclays has seen its payment protection insurance (PPI) exposure rise by £300m in an indication other banks may also face higher bills for the mis-selling of the insurance.

RBS chief Stephen Hester has said it was "uncomfortable" to work at the bailed-out bank whilst suggesting the Government's 82% stake in the bank was slowing down its recovery.

Old Mutual is unifying its two UK asset management businesses, Old Mutual Asset Managers UK (OMAM UK) and Skandia Investment Group (SIG), into a single business with the view to rebrand under one name.

Federal Reserve chairman Ben Bernanke said the central bank is unlikely to pump further stimulus into the US economy unless it sees an unexpected sharp deterioration.

Adjusted profits at UK lender Barclays surged by over a fifth in the first quarter of 2012, well above expectations.

EEA Fund Management has welcomed yesterday's "helpful" guidance from the FSA, on its intention to ban the sale of traded life policy investments (TPLIs) to retail clients.

Oil giant Royal Dutch Shell has reported a rise in profits owing partly to strong demand for energy which is keeping oil prices high.

Royal Bank of Scotland could see £20bn wiped off its value if planned banking reforms go ahead, its top boss has said.

Members of the Pensions Action Group (PAG) have renewed lobbying MPs' to improve their compensation package from the Financial Assistance Scheme (FAS).

Professional indemnity insurance (PII) underwriter Chubb is withdrawing from the market for financial advisers.