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FTSE slides lower with banks

The FTSE opened at 4,477 this morning but slipped from recent highs with pressure on banks and mining stocks.

By 11am, the index was 2 per cent lower at 4,388 with Barclays down 5.2 per cent to 259.25p, Lloyds Banking Group down 3.6 per cent to 67p and Royal Bank of Scotland down 3.9 per cent to 36.60p.

BHP Billiton slipped 3.5 per cent to 1,502p, Rio Tinto dropped 2.7 per cent to 2,970p and Anglo American declined 4.6 per cent to 1,810p.


Call to base FSCS levies on risk

The House of Lords economic affairs committee has branded Financial Services Compensation Scheme levies “unfair” and called for calculations to be based on firms’ levels of risk.In its Banking Supervision and Regulation report, published this week, the committee says that while it is impossible to accurately measure the risk of bank portfolios, calculating levies on […]

IP business increases 13% but IFA sales dip by 5%

Income protection sales increased by 13.5 per cent in 2008, a report by Swiss Re has revealed.In its annual term and health watch report on the UK protection market, Swiss Re found the number of IP policies sold last year increased by 13.5 per cent to 126,815 from 111,780 in 2007. But polices sold by […]


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