News

The FTSE opened 1% lower on Friday following heavy falls in the US and across Asia overnight, with investors spooked by Spanish bond yields moving perilously close to the critical 7% level yesterday.

The head of operations at the Financial Ombudsman Service has left amid concerns of high staff turnover at the organisation, which is now seeking a replacement for the £140,000 a year role.

A meeting in Berlin between David Cameron and German Chancellor Angela Merkel will be dominated by the European debt crisis, but is expected to also tackle the concept of a tax on financial transactions - known as the Tobin Tax - on which the two nations...

Capita Financial Managers, which wants Arch Cru investors to accept a payoff linked to the sale of assets from the suspended fund range, has admitted that three-quarters of the remaining value of the cells is uncertain.

The Finance & Technology Research Centre (F&TRC) Protection Forum is to report on the benchmarking of provider's protection retention systems in December.

Wealth manager Torquil Clark is offering to provide execution-only services to IFAs' clients on a white-label basis.

Former New Star head of fixed income, Theo Zemek, today told of the "appalling" atmosphere at New Star under former CEO John Duffield, in the latest twist in the employment tribunal brought by Patrick Evershed against his former employer.

Bill Miller, chairman and chief investment officer of Legg Mason Capital Management, is to step down and cede his multi-billion dollar $4.7bn Value Trust to Sam Peters.

A qualification for advisers in the health and protection insurance sector has been launched by the Chartered Insurance Institute (CII).

Almost two-thirds (63%) of small, family-run businesses would not survive the loss of a key member of staff, according to Scottish Widows.