The world's richest clients are now less loyal to their private bankers and wealth managers as well as less trusting and more demanding, according to a PwC survey.

Northern Rock is to be sold rather than remutualised or floated on the stock market, the Chancellor said last night.

Greece's credit rating has been cut to the lowest level of any nation after Standard & Poor's warned that the danger of a default by the country has risen significantly.

The International Monetary Fund (IMF) has shortlisted French finance minister Christine Lagarde and governor of the bank of Mexico Agustin Carstens for the top job as managing director.

Bank of England governor Mervyn King has been knighted for his role in steering the UK through the financial crisis.

Hargreaves Lansdown has been criticised in a national paper for not fully disclosing its financial arrangements with fund managers.

Fidelity has proposed new names for the IMA Managed sectors based around their total exposure to 'risk assets' not just equities.

John McFarlane, former chief executive of the Australia and New Zealand Banking Group (ANZ), is to become the new chairman of Aviva.

Barclays has won a long-running legal battle over its actions on the eve of the credit crisis.

Aviva has appointed Trevor Matthews as CEO of its UK region and as an executive director of Aviva.