The US Federal Reserve has said it will end its purchases of government bonds in October, bringing to a close the quantitative easing (QE) experiment.

Life insurers and specialist annuity providers saw share values fall after Chancellor George Osborne unveiled reforms to income drawdown.

Former Royal Bank of Scotland head Stephen Hester is to join insurer RSA as CEO with immediate effect.

F&C Asset Management has reported pre-tax profits of £37.3m for the half year ending 30 June 2013 after implementing cost-cutting measures.

UK CPI inflation rose from 2.7% to 2.9% in June, with the largest upward contributions coming from petrol, clothing and footwear.

The Investment Management Association (IMA) is canvassing fund groups on how to counter the "very significant erosion of trust in financial services" amongst consumers, and has proposed introducing a 'statement of principles' for members.

Pensions minister Steve Webb has admitted the government needs to do more to prevent consumers being auto-enrolled into "dodgy" pension schemes.

Prudential has appointed Paul Manduca as chairman, succeeding Harvey McGrath in the £600,000 post.

Stephen Hunt, founder of retirement specialist Rockingham Independent, owes the company almost £100,000, according to a report by liquidator Probitas.

The point at which people start paying income tax has been increased to £9,205, George Osborne announced in today's Budget.