News

The rise in VAT announced in this week's Budget may delay some commission-based advisers from offering an RDR-compliant fee-paying proposition, the Institute of Financial Planning (IFP) warns.

Axa have re-affirmed their commitment to the private healthcare market and its Bluefin adviser group after selling its Life business to Resolution for £2.75bn.

Resolution has bought Axa's UK protection business as part of a deal for the whole of its Life organisation worth £2.75bn.

Slower growth caused by the fiscal squeeze will force the Bank of England to keep interest rates lower for longer, according to the centre for economics and business research (cebr).

The integration of Friends Provident with Axa Life will lead to the launch of a "best of breed" protection proposition in 2011, Friends interim managing director Nathan Moss says.

The Government will undertake an independent review of auto-enrolment, Secretary of state for work and pensions Iain Duncan Smith has announced.

The FTSE 100 opened higher, up 0.35% or 18.22 points to 5,196.74 following Wall Street's late rally.

George Osborne's "unavoidable" increase in VAT, the single largest revenue raising measure in Tuesday's Budget, could have been avoided if the Chancellor had not decided to cut other taxes.

Buyout vehicle Resolution has bought Axa Life for £2.75bn in a deal part-funded by a rights issue of approximately £2.05bn.

Financial services regulation is set to get harsher despite the break-up of the FSA, the Association of IFAs (AIFA) warns.