News

The Treasury is proposing setting up separate compensation schemes and ending the current cross-subsidy between different classes of FSCS levy payers.

The FTSE 100 opened higher, up 0.46% or 24.52 points to 5,337.14, on encouraging news from the oil sector.

St James's Place (SJP) is set to announce bumper first half sales this week in a move that may push majority shareholder Lloyds to offload its stake in the company.

Mark Hoban, the City minister, will use a speech to an audience of top bankers and business leaders tomorrow to flesh out the coalition's plans to tear up Labour's regulatory system and disband the FSA.

Lifemark, one of the life settlements groups behind Keydata, could be facing liquidation after US hedge fund CarVal pulled a $60m rescue offer.

The American economy is not headed for a double dip recession and is likely to gradually strengthen over the coming year, US Treasury Secretary Timothy Geithner believes.

A base rate of 0.5% will begin to look like the 'new normal' with hikes unlikely until 2014, according to a leading economic forecaster.

BP chief executive Tony Hayward is expected to stand down today but he could receive a pay-off of £1m with his pension pot potentially as big as £10.8m.

The UK's four major banks have passed EU stress tests, although five Spanish banks failed, the Committee of European Banking Supervisors (CEBS) said.

LifeSearch has been asked by AIFA to help the ABI develop a guideline script for advisers selling critical illness insurance (CI).