News

Greece could be forced to reluctantly accept the agreed EU and IMF bailout package after its borrowing costs surged to fresh highs yesterday.

Fabrice Tourre - the bond trader at the heart of Goldman Sachs' fraud case - was on Tuesday barred from working in the City of London in the first 'victory' for financial regulators on both sides of the Atlantic.

St. James's Place recorded an 84% surge in unit trust and ISA investments over the first quarter of the year.

The ABI has progressed to the next stage of talks on a national protection scheme, an idea it says is gaining "greater urgency" in the run-up to the General Election.

The ABI has hastened the next stage of industry talks on a national protection scheme as it wants to help shape the new Government's protection strategy.

RDR will force IFAs to recommend investment trusts as part of their advice to clients, according to the FSA.

American investment bank Goldman Sachs has posted better than expected first quarter profits of $3.46bn (£2.25bn), almost double what it made in the first quarter of last year.

Aviva has confirmed plans to close both the Aviva and RAC final salary schemes to future accruals.

Positive Solutions has been forced to pay out more than £1m to cover compensation costs relating to a number of investment failures last year.

About one third of employees have had their pension plans hindered by the recession and will have to take more personal responsibility over the coming years, Towers Watson says.