Aviva has vowed to turn around the performance of its struggling funds business - Aviva Investors - after operating profits fell 13% year on year.

Legal & General Investment Management said today its profits had risen to £119m in the first half of 2012, after assets under management climbed 3% to £381bn.

Barclays Bank is considering a new remuneration process which would see bonuses for its top executives reduced and payment deferred until they have retired.

Total assets on Axa's platform proposition Elevate grew by 49% to £4.3bn over the last year.

A range of kitemarked simple products should be introduced to help restore consumer trust in the financial services industry, a Treasury-commissioned review has recommended.

A sole trader independent financial adviser has been banned by the Financial Services Authority (FSA) and fined £10,500 for lacking competence and failing to treat his customers fairly.

The British economy's "capacity to absorb shocks" will help it to recover from recession and ensure it keeps its AAA credit rating, Standard & Poor's (S&P) said.

The British Bankers Association (BBA) has come under fire from a former member of the LIBOR compilation team at Thomson Reuters, who claims the organisation was told on a weekly basis in 2008 that the rates were being distorted.

Profits at wealth manager St James's Place (SJP) rose in the first six months of the year, helped in part by a record quarter for new business.

The Financial Services Authority (FSA) has banned a mortgage adviser following his role in a multi-million pound fraud, for which he was sentenced earlier this year.