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Balls tipped as new Chancellor as Darling’s expenses in spotlight

Chancellor Alistair Darling has been accused of claiming living allowances for his grace-and-favour home in Downing Street while also claiming expenses for a flat he was letting out to tenants.

The Daily Telegraph revelations will likely put pressure on Prime Minister Gordon Brown to remove Darling from his position in an upcoming reshuffle.

The Sunday Times reported that Education Minister Ed Balls was in pole position to take over as Chancellor in a reshuffle it claims will take place on Friday, after the European elections.

A spokesman for Darling denied there had been any wrongdoing.


Indian funds star in May

The two strongest performing funds during May were both Indian equity offerings, which received a boost following the country’s recent elections, according to Lipper.

World is finding a new balance

Since our last contribution to this column at the beginning of March titled, Markets can go up as well as down, risk assets around the globe have soared. At the time, we commented that if reflationary policies undertaken by government authorities are seen as taking hold, equity markets and other risky assets would likely enjoy an explosive rally. The flip-side, of course, was that safe-haven assets like government bonds would get crushed.

Sector rallies against ABI proposal to scrap TPD

Protection experts are calling for the Association of British Insurers to rethink its proposal to scrap total permanent disab- ility from critical-illness plans as part of its statement of best practice paper.Last year, the ABI said it was working on a consultation paper, to be published in July, that will allow the industry to get […]


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