UK - IFA group Berkeley Berry Birch has reported pretax losses of £38.9m.
It warned that it would struggle to break even in 2004 as it had hoped.
Operating losses grew to £6.9m for the 12 months to March 31 compared with £2.7m for the previous 14 month period.
The group blamed faltering consumer confidence for the operating losses, but said it had changed its commission and management structure following the acquisition of IFAs Weston and PFS.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.