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IMF says “dangerous” imbalances threaten global recovery

The International Monetary Fund says “dangerous” imbalances have emerged which threaten to derail the global recovery and spark civil wars, The Telegraph reports.

The IMF has published a paper arguing that the extreme gap between rich and poor was an underlying cause of the recession. It warns of “disastrous consequences” for the world economy unless workers regain their “bargaining power”.

IMF chief executive Dominique Strauss-Kahn says: “It is not the recovery we wanted. Its is a recovery beset by tensions and strain, which could even sow the seeds of the next crisis.

“Global unemployment remains at record highs, with widening income inequality adding to social strains.”



Liontrust faces £415,000 FSCS levy hit

Liontrust says it faces a £415,000 hit to fund the FSCS interim levy to compensate for the likes of Keydata, Wills & Co and other failed investment firms. The bill is a 1975 per cent increase on the £20,000 interim levy the firm was given in the previous financial year and is part of the […]


Cavanagh in takeover talks

IFA firm Cavanagh has announced it is in takeover talks that could lead to the firm being acquired. In a statement to the stockmarket this morning, the firm says it has entered into preliminary discussions, which may or may not result in an offer being made for the company. The firm’s share price has increased […]


Gay thinks FSA could relent for advisers on the way to level 4

Aifa director general Stephen Gay believes the FSA will be flexible with the RDR qualification deadline towards the end of 2012 if advisers are struggling to achieve QCF level four. Gay first raised the issue in the all-party Parliamentary group on insurance and financial services session in December about greater flexibility for those advisers who […]


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