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New warning over annuities mis-selling

A new warning has been issued that annuities mis-selling by pension companies could become an even bigger scandal than PPI, costing the industry billions of pounds. Nick Flynn of LEBC Group says there is a danger that thousands of people who were sold billions of pounds worth of standard annuities should have been offered an […]

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FOS still getting 4,000 new PPI claims a week

The Financial Ombudsman Service (FOS) is still receiving 4,000 new PPI claims a week from claimants who have been rejected by their lenders and 65% of complaints had been unfairly rejected by lenders. Chief Ombudsman Caroline Wayman says ‘it will be years’ before one of the biggest scandals in UK financial history is over.

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RBS facing mega fine over mis-selling scandal

Royal Bank OF Scotland (RBS) is facing a mega fine of up to £5 billion for its part in yet another financial mis-selling scandal. Shares in the bank fell by 1.5% on the first trading day of the New Year after news of the possible scale of the fines became public.

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Government employs debt chaser to claw back £20 billion

The government has struck a deal with an American owned debt chasing company to try to recover £20 billion in unpaid taxes and student loans. Ministers have created a joint venture with TDX Group – a leading ‘recovery management’ firm – to try to recover overpaid benefits and grants as well as the taxes and […]

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FCA in regulatory clampdown on seven financial benchmarks

The Financial Conduct Authority (FCA) is to clamp down on the regulation of seven UK-based financial benchmarks in the wake of a series of scandals. The regulator is taking over responsibility for policing a set of fixed income, commodity and currency benchmarks which affect the daily workings of the world’s markets.

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Government puts more Lloyds shares on sale

The government is to sell more of its shares in Lloyds Banking Group (LBG), reducing its holding to around 20%. In a trading plan announced by Chancellor George Osborne, up to £3 billion worth of shares will be sold in the run up to the general election on May 22nd.

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Merry Christmas from Gladstone Brookes

Toys-r-us christmas charity

The Gladstone Brookes elves pictured with overflowing trolleys at the end of their £1,000 trolley dash in aid of the Warrington Toy Appeal To bring our year of giving to a close, Santa’s little helpers from Gladstone Brookes went on a high speed trolley dash around Toys’R’Us to scoop up £1,000 worth of new toys […]

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Co-op Bank fails Bank Of England stress tests

The troubled Co-op Bank has failed a series of tests to see if it could withstand another serious financial crisis. Eight UK banks and building societies were tested by the Prudential Regulation Authority (PRA) which is part of the Bank Of England.

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Government plans 100,000 new homes for first time buyers

Thousands of first time buyers could be in line for a new home at 20% discount if a radical government plan gets the go ahead. The Starter Home Initiative calls for the building of 100,000 new homes for first time buyers over the next five years.

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