News

The Consumer Protection and Markets Authority (CPMA), one of the bodies set to replace the FSA from 2013, will be subject to audit by the National Audit Office (NAO) under rules proposed by the Treasury today.

The Treasury is proposing setting up separate compensation schemes and ending the current cross-subsidy between different classes of FSCS levy payers.

Energy bonds lead corporate debt returns this month after receiving a boost from BP temporarily sealing the leaking Macondo oil well.

The FTSE 100 opened higher, up 0.46% or 24.52 points to 5,337.14, on encouraging news from the oil sector.

Neil Woodford has continued his criticism of water regulator Ofwat, saying the organisation is "dysfunctional" and should be merged with electricity compatriot Ofgem.

Aberdeen Asset Management continued to see investors exiting UK equities in Q2, as the group posted an overall £337m net inflow for the quarter.

Embattled BP chief executive Tony Hayward is expected to resign tomorrow as the oil giant attempts to rebound from the Gulf of Mexico oil disaster.

A base rate of 0.5% will begin to look like the 'new normal' with hikes unlikely until 2014, according to a leading economic forecaster.

Schroders, the largest shareholder in Dana Petroleum, has urged the oil group to consider a £1.7bn possible offer from the Korea National Oil Company.

Lifemark, one of the life settlements groups behind Keydata, could be facing liquidation after US hedge fund CarVal pulled a $60m rescue offer, according to reports.