Economy
Dramatic growth in enhanced annuities
Sales of enhanced annuities in the UK exceeded £1 billion per annum for the first time last year, according to research by consultants Watson Wyatt.
 
Business leaders to give 2012 advice
The Mayor of London Ken Livingstone has formed an International Council of Business Advisers which will report back to him in the run up to the 2012 Olympic and Paralympic Games.
 
FSA blamed for Northern Rock fiasco
The Treasury Committee has published a scathing attack on the management of Northern Rock, but reserved most of its venom for the Financial Services Authority.
 
ICO takes action against Marks & Spencer
Marks & Spencer has been ordered to encrypt all hard drives by April 2008 after losing a laptop containing personal information on 26,000 M&S employees.
 
Financial advisers lose market confidence
New research reveals financial advisers foresee turbulent months ahead.
 
Bank charges test case to drag on
The legal battle between eight banking institutions and the Office of Fair Trading (OFT) is expected to be drawn out until mid-February. 
 
Insolvency practitioner welcomes ASA ruling on credit advertising
Insolvency specialists at Begbies Traynor have welcomed the Advertising Standards Authority’s (ASA) recent ruling regarding advertising of credit facilities by a major retailer.
 
Consumers ignore worsening financial reality
Alliance Trust’s measure of consumer financial wellbeing shows a worrying fall in the fourth quarter of 2007 as pressure mounts from rising prices, increased debt and slowing house price growth.
 
Railway firm apologises and doubles compensation
First Great Western has announced it is giving back millions of pounds to its passengers, doubling the amount of compensation required by the Passenger’s Charter.
 
Federal Reserve in shock rate cut
The US Federal Reserve has cut the base rate of interest from 4.25 per cent to 3.5 per cent after billions were wiped off the value of shares in the past few days.
 
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