News

A trade body for English-speaking advisers operating in mainland Europe launched this month.

Lloyds TSB International has revamped its International Bonus Saver Account.

Positive Solutions has seen a major increase in demand for its financial planning services from law firms and accountants.

The FSA has banned a mortgage broker for submitting remortgage applications with false information.

Swiss bank UBS has posted a loss of 1.4bn Swiss francs (SFr) in Q2 as it battled to shrug off the impact of investments in the US mortgage market.

Morgan Stanley has hired Neville Godley as vice president of its Retail Structured Products Distribution team as part of its expansion plans.

Keydata's administrators PwC spent 5,733 hours at a cost of over £2m, from being appointed on July 8 to July 20, trying to sort out the affairs of the collapsed structured products provider.

Legal & General made a loss of £720m in the first half of 2009, but makes no move to raise cash from investors.

Northern Rock has made a loss of £724.2m in the first half of the year due to a rise in arrears and writedowns.

Two of Britain's biggest banks have laid out their defence of the bonus culture following new evidence that bankers are on course for another year of bonanza pay-outs, The Daily Telegraph says.