UK

The Commission on Banking Standards has told the government its plans to reform the UK's banking sector are not strict enough.

Standard Life is investigating an error that has left thousands of advisers being quoted inflated fund prices on a number of platforms.

ON UK INCOME

The managers of the Ruffer investment trust are concerned further monetary easing may lead to another financial crisis on a par with 2007/8 as talk of yet more stimulus fuels 'risk-takers'.

Sterling fell back this morning ahead of the Bank of England's Monetary Policy Committee (MPC) announcement as traders speculated whether the Bank will restart the printing presses to shore up the UK's economic recover.

ON UK GROWTH

Standard Life has revealed restructuring and regulatory costs brought on by the Retail Distribution Review (RDR) and Solvency II cost the business £109m last year, up from £70m in 2011.

Insurance firm Aviva suffered a loss of £3bn in 2012 due to a £3.3bn writedown from the sale of its US business last year.

Schroders has revealed its pre-tax profits fell 11% over the year to 31 December 2012, largely due to a slump in profits in the private banking arm.

The founder of online voucher company Groupon has been ousted after shares in the firm fell 24% in a single day.