The Treasury Committee has recommended that the Financial Conduct Authority should have a duty to promote competition for the benefit of consumers.

The Bank of England base rate has been held at 0.5 per cent and the quantitative easing asset purchase programme is also unchanged at £275bn.

Royal Bank of Scotland is to cut 3,500 jobs from its investment banking division.

There are only four days left to qualify for an early-booking discount on tickets for the Institute of Financial Planning’s first Financial Planning Day.

Morningstar has launched its analyst research for investment trusts, rating 32 closed-end funds from Gold to Negative.

People retiring this year expect to have an annual retirement income of £15,500, 16 per cent lower than those who retired in 2008.

Cautious Managed funds remained the top-selling sector in December accounting for 48 per cent of net sales, according to Cofunds.

Succession has added four new partner firms with a total of £500m assets under influence to its business.

First Direct has found that many people have few or limited savings and many would fail to even last until the weekend if their money dried up.