Resolution has cancelled an intended £250m payout to shareholders after reconsidering the expected capital requirements of Friends Life.

The Consumer Prices Index (CPI) measure of inflation fell to 2.4% in June, from 2.8% in May, official figures show.

The government will announce details of a deferred payment scheme for residential care for the elderly in which councils lend individuals money to pay for care, then recoup the money when their house is sold after their death.

Aviva has fired dozens of senior managers and may look to offload a fifth of its business units after carrying out a review of the company, according to reports.

Moody's Investors Service has downgraded the credit rating on 28 Spanish banks, including Banco Santander, less than a month after cutting the nation's sovereign rating.

The Bank of England is to launch new stimulus packages in a bid to get the economy moving again.

Vince Cable is understood to be reconsidering a hard-hitting proposal that would see chief executives face an annual binding vote on their pay and bonuses.

The British Chamber of Commerce has revised down its forecast for economic growth this year, from 0.6% to 0.1%

Hundreds of thousands of public sector workers are expected to join a 24-hour strike on Thursday against proposed pension changes.

Legal & General (L&G) has named group chief financial officer Nigel Wilson as its new chief executive, replacing the outgoing Tim Breedon, who departs from the role next month.