Friends Life is forecasting a total cost of £280m for its business restructure and outsourcing programme after acquiring the Axa UK Life book, latest results show.

The Financial Services Authority (FSA) has confirmed its approach to temporary product intervention and said the incoming Financial Conduct Authority (FCA) "will not hesitate" to use its powers.

The government is set to impose a £95,000 "stealth tax" on inheritance to help pay for care for the elderly, according to the Sunday Times.

The money banks have set aside for payment protection insurance (PPI) mis-selling compensation will run out by the end of the year, according to analysis from Which?

The final cost to the country's banks for payment protection insurance (PPI) mis-selling is likely to be about £25bn, according to The Times.

Business secretary Vince Cable has said investors' expectations on possible return from bank stocks are "hopelessly unrealistic".

Reinsurer Swiss Re could be on the hook for $1bn in damages over a life insurance deal agreed with Warren Buffett's Berkshire Hathaway conglomerate, according to reports.

The Solicitors Regulation Authority (SRA) is to recommend that members are allowed to refer clients to both restricted and independent advisers.

The Money Advice Service (MAS) has hired Caroline Rookes as its new chief executive to succeed Tony Hobman.

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