Share investments rise as customers want better return
According to the Investment Management Association (IMA).The public are taking out their cash from banks and investing it into investment funds, for a better return on their money.
Fraud cost UK economy £30 billion: Financial services biggest loser
Fraud costs the Government, businesses and consumers £30 billion a year and according to the National Fraud Authority (NFA) financial services lose more to fraud each year than any other private sector industry in the UK.
President Obama’s proposals cause Banks shares to fall
Shares have dropped in major British banks after Barack Obama’s proposals decision to end Wall Street’s risky trading practices. Obama wants banks to stop betting on markets with own money and to ensure no bank becomes too large.
Bank of America report $2.2 billion net loss for 2009
America’s biggest financial Bank, the Bank of America (BoA) has made a $2.2 billion net loss for 2009 after counting the cost of repaying a $45 billion bailout to the US Government.
FSA fine Standard Life for misleading public
Standard Life (LON:SL) the pension provider has had their knuckles rapped and a fine of £2.45m for publishing misleading literature about one of its investment funds. It is believed that 98,000 investors have been misled.