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Pension rises slashed

Pension rises will be cut by almost a third next year, from 4.6 per cent to 3.1 per cent due to the Government switching its benchmark from the retail price index to the consumer price index.

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BBA calls for accountability at strengthened Bank of England

The Bank of England will need to be more democratically accountable due to its increased influence over socio-economic matters, warns the British Bankers’ Association. Speaking at a Treasury select committee evidence session this week, BBA chief executive Angela Knight said the increased control over macro-prudential economic tools, to be introduced as part of the regulatory […]

Growth gap set to narrow as economy slows, IMF says

The gap in GDP growth between advanced and emerging economies is expected to narrow as the world economy slows in 2011, according to the International Monetary Fund. In the 2008-09 downturn the gap widened as emerging economies were generally less affected than developed ones. While advanced economies’ GDP contracted by an average 3.2 per cent […]

Europe fund sales offer grounds for optimism

Fund sales doubled across Europe in August but a rush into ultra-safe money market funds was the main driver, according to the latest Lipper FMI Fund Flash. Europe saw net sales of £42.9bn in the month of August but £22.8bn of this was into money market funds – short-term debt funds that offer cash-like liquidity. […]

Standard Chartered in £3.3bn rights issue

Standard Chartered has announced plans for a £3.3bn rights issue ahead of new capital rules that will force the banking industry to stockpile cash. The emerging market-focused bank says it wants to raise cash ahead of the Basel III rules, which aim to prevent a repeat of the financial crisis. The bank says the cash […]

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