News

M&G posted a 216% rise in UK retail net inflows last year, with the £6bn net total accounting for almost a quarter of all IMA sales.

Pruprotect looks set to reveal a substantial gain in its new business for last year but its stable mate Pruhealth appears to have suffered a tougher 12 months.

Transact has cut its annual and switch charges and applied a new single rate for users.

Prudential's UK retail new business fell by 11% in 2009 as the group focused on profitability over volume.

Prudential has agreed to buy AIG's Asian business for $35.5bn, which will be partially funded by a $20bn rights issue.

Gross lending by building societies was subdued in January at £1bn, a drop from £1.8bn in December, as funds for mortgage lending remained unavailable.

HM Treasury may step in to support victims of the Keydata Investment debacle, according to reports.

Mining shares helped the FTSE 100 jump more than 56.81 points (1.1%) to 5,411.33 in early trading after copper prices hit a five-week high following the earthquake in Chile.

George Osborne, Shadow Chancellor, on Saturday promised early action to cut the headline rate of corporation tax from 28p to 25p, but aides conceded the change might not fully take effect until April 2011.

Prudential is in advanced discussions with AIG and the US Government to buy the giant insurer's Asian assets for $35.5bn (£23.5bn).