Investment

The Consumer Prices Index rate of inflation climbed to 2.6% last month, from 2.4% in June.

HMRC chief executive Lin Homer has announced the department will spend up to an extra £34m and recruit up to 1000 extra contact centre staff to achieve its target of answering 90% of calls.

Barclays has confirmed Sir David Walker will succeed Marcus Agius as chairman of the bank on 1 November.

The Financial Services Authority will today suggest scrapping LIBOR and replacing it with a borrowing rate based on actual trades, it has been reported.

HM Revenue and Customs has told providers to use men's drawdown rates for all drawdown users from 21 December 2012.

Schemes are being urged to reconsider "distorted" gilt holdings, as persistently low yields call into question the benefits of holding the asset class.

The Bank of England has cut its forecast for economic growth this year to almost zero and has predicted inflation will be below target in the medium term.

Hidden charges can more than double the cost of diversified growth funds, according to an LCP survey.

The author of the government's public sector pension reforms has engaged in a public row with a senior European official over European regulation.

UK-listed banking giant Standard Chartered saw its shares fall more than 7% at one stage in Hong Kong this morning as it faces allegations of assisting in a $250bn money laundering scheme.