UK - George Osborne has announced plans to abolish the Financial Services Authority and increase the powers of the Bank of England.

Resolution Group, the consolidation vehicle which bought Friends Provident last year, is in talks to buy AXA UK's annuity, protection and group pensions business for £2.75bn.

UK - Resolution Group, the consolidation vehicle which bought Friends Provident last year, is in talks to buy AXA UK's annuity, protection and group pensions business for £2.75bn (US$4bn).

Gordon Brown said he accepted Liberal Democrats leader Nick Clegg will talk to the Tories about forming a Government before the Labour party.

Nigel Waterson, the Tory pensions spokesman, has lost the Eastbourne seat he has held for 18 years to the Liberal Democrats.

F&C Asset Management plans to acquire boutique fund group Thames River Capital in a deal worth up to £53.6m.

Alistair Darling, George Osborne and Vince Cable have kicked off the election campaign with a live televised debate on the economy which saw them trading blows on issues including the national debt, financial services regulation and long term care.

UK - Friends Provident's board has recommended shareholders accept the latest acquisition offer from Resolution.