The UK's prized AAA credit rating has been put on "negative outlook" by Fitch, the second ratings agency to warn of a possible economic downgrade.

Legal and General Investment Management(LGIM) reported a 14% increase in operating profit to £234m for 2011, while AUM rose 5% to £371bn, from £354bn the previous year.

The Financial Services Authority (FSA) has cited a number of potential concerns it believes could lead to consumer detriment as firms make changes to their business models ahead of RDR implementation next year.

The UK economy is perpetually subjected to shocks and pressures, rendering hopes of maintaining financial stability indefinitely "over-optimistic", Monetary Policy Committee (MPC) member Paul Fisher said last night.

The asset management division of financial services group Close Brothers made a loss in the six months to 31 January, as it finalises a restructure which has seen it launch an advised service and includes plans for a direct-to-consumer proposition.

Standard Life Investments (SLI) saw profits increase by 21% last year, thanks in part to rising revenues and the continued popularity of GARS.

The Chancellor George Osborne is to set out a plan to reduce corporation tax to 20% in next week's Budget.

Britain's leading banks are facing allegations of mis-selling complex interest rate protection protection products to hundreds of small businesses.

The Financial Services Authority (FSA) has fined former finance director at Royal Liver Assurance Limited (RLA), George McGregor, £109,000 for entering into contracts on behalf of RLA without authorisation and which benefitted a former RLA employee.

Businesses running final-salary pensions are being "clouted" by the government's quantitative easing (QE) programme, says the National Association of Pension Funds (NAPF).