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Nothern Rock returns to mortgage market

18:07 | 12 May 2008 | By Iain Martin

Northern Rock has stepped back into the mortgage market, cutting as much as 0.6% from rates in its new, simplified mortgage range. 

Monday Closing Market: Commodities and retailers drive FTSE higher

17:00 | 12 May 2008 | By Matthew Goodburn

The FTSE 100 closed almost 16 points ahead on Monday, driven by surging commodities and a positive start across the Atlantic.

JPMorgan enters infrastructure story through fund launch

15:51 | 12 May 2008 | By Sara Smith

JPMorgan Asset Management (JPMAM) is the latest group to tap into the infrastructure story.

Edeus details savings offers with Newcastle BS

15:43 | 12 May 2008 | By Iain Martin

Former mortgage lender Edeus has revealed details of its plan to distribute Newcastle Building Society’s savings accounts. 

Pensions industry launches £300m VAT case

14:05 | 12 May 2008 | By Edward Lander

The pensions industry wants VAT exemption for occupational pension fund management

Monday Lunchtime Market: FTSE 100 ahead as retailers turn upbeat

14:00 | 12 May 2008 | By Nicholas Paler

Rumours of a takeover coupled with the prospects for UK firms overseas helped push the FTSE 100 higher by lunchtime.

WAY Group hooks up with Husselbee for cautious managed fund

13:37 | 12 May 2008 | By David Campbell

The WAY Group has launched a cautious managed fund to be managed on its behalf by John Husselbee of North Investment Partners.

Investment fund retail sales slump by £3 billion

13:36 | 12 May 2008 | By Dylan Lobo

Net retail sales of investment funds feel by £3 billion year-on-year in the first quarter.  

Northern Rock lowers debt but mortgage arrears rise

13:27 | 12 May 2008 | By Iain Martin

Northern Rock has lowered the amount owing to the Bank of England to £24.1 billion from £26.9 billion even though the number of mortgages slipping into arrears has increased. 

Banks begin backlash against advice bar as RDR debate intensifies

12:10 | 12 May 2008 | By Michelle McGagh

Peter Tyler, retail team director at the British Bankers Association, has hit back at the FSA's proposal to label multi-tied and tied advisers as sales. Meanwhile, advisers are alarmed at the FSA's suggestion that indemnity commission could still have a role after the retail distribution review.

HSBC takes $2.6 billion hit, shares up 2%

12:00 | 12 May 2008 | By Matthew Goodburn

Banking giant HSBC provided investors with some relief on Monday morning by reporting resilient first quarter trading and a better than feared credit crunch related writedown.

Long-term care needs £6 billion, says Brown

11:53 | 12 May 2008 | By Edward Lander

The prime minister has launched a consultation on Britain's care system, asserting it faces a £6 billion shortfall in 20 years  unless radical changes are made.

Centrica up despite warning on higher fuel prices

11:50 | 12 May 2008 | By Nicholas Paler

British Gas owner Centrica was up over 2%  this morning despite announcing profits were under pressure because of high wholesale gas prices.

Mortgage packager Knight Funding winds down

11:40 | 12 May 2008 | By Iain Martin

Knight Funding has closed its mortgage packaging arm because of poor market conditions and has linked with BDS Mortgages to handle its pipeline business.

BNY Mellon's Allpress considers options following Feeney appointment

11:08 | 12 May 2008 | By David Campbell

BNY Mellon Asset Management director of wholesale business Mark Allpress is considering his options within the company after his role was made redundant last month.

New Star to merge underperforming Japan and US funds

10:46 | 12 May 2008 | By Matthew Goodburn

New Star Asset Management is merging its underperforming Japan and North American funds into its Pacific Growth and American fund of funds portfolio respectively.

Lib Dem Clegg calls for City tax clampdown

10:41 | 12 May 2008 | By Michelle McGagh

In a speech today leader of the Liberal Democrats Nick Clegg will call for stricter legislation to close tax loopholes that make London accountancy rules look like ‘a Swiss cheese’.

Openwork and Octopus team up for triple multi-asset fund launch

10:31 | 12 May 2008 | By Dylan Lobo

Openwork and Octopus haved teamed up to launch three multi-asset funds later this year.  

House prices better to keep strength, poll finds

10:29 | 12 May 2008 | By Iain Martin

Nearly half of those surveyed in a recent poll want house prices to maintain their strength while more than a quarter told market research company ICM they would welcome more falls. 

Reader Survey: Advisers yet to be convinced on return to property

10:09 | 12 May 2008 | By David Campbell

Judging by this May's Citywire reader survey advisers, such as Rowan Financial Tim Cockerill (above), seem to have missed the memo which recently circulated among property managers informing them that the market has hit the floor.

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