David McCorkell, head of investment management at Brewin Dolphin, has retired with immediate effect.

The London Mayor Boris Johnson said yesterday he wants to cut the top tax rate further, from 45p to 40p in the pound.

Aviva is to axe four products to new business, including its self-invested personal pension (SIPP), blaming duplication in the product range for the move.

Zurich is to cut 200 jobs from across its UK Life business.

Wealth management group Ashcourt Rowan has appointed two chief executives to head up its financial planning and asset management divisions.

The Financial Services Compensation Scheme (FSCS) has reduced the amount of compensation it is planning to collect from AWD Chase De Vere over its sale of Lifemark-backed Keydata investments, the national IFA has said.

The IFA label represents an "irretrievably damaged brand" and should be "consigned to history", according to a pensions report released today.

The FSA has fined Swiss bank Habib AG Zurich £525,000 for failing to establish and maintain adequate anti-money laundering systems.

Merchant House Group, the AIM-listed financial services group, has suspended trading in its shares.

BUDGET-LITE