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Osborne warns leaving EU would hurt pensions


LONDON British pensioners would be hundreds of pounds a year worse off if the country left the European Union, Chancellor George Osborne said late on Thursday in the government's latest warning on the costs of voting to leave the bloc.

British funds raise cash to five-month highs, brace for Brexit - Reuters poll 27 May 2016

LONDON British investors have raised the share of cash in their portfolios to five-month highs, bracing for any market turmoil from a possible "Brexit" vote at next month's referendum and interest rate rises in the United States.

UK consumer confidence edges up but Brexit vote clouds outlook 27 May 2016

LONDON Morale among British consumers edged up in May but uncertainty around next month's referendum on European Union membership continued to cloud the economic outlook, a survey showed on Friday.

UK banks approve fewest mortgages in more than a year as new tax weighs 26 May 2016

LONDON The number of mortgages approved by British banks in April fell to its lowest number since March 2015, hit by the introduction of a higher tax on buy-to-let properties, industry figures showed.


FCA proposes fee cap on cashing in pension pots 26 May 2016

LONDON Charges on Britons cashing in their pension early will be capped at 1 percent of the pot's value from March 2017, the Financial Conduct Authority proposed on Thursday.

UK banks must change to end customer alienation - policymaker 26 May 2016

LONDON Britain's banks are stuck with flagging financial returns while failing to tackle overpaid investment bankers and customer alienation, a senior Bank of England policymaker said on Wednesday.

Complaints against UK banks remain near record levels 26 May 2016

LONDON Complaints against financial services firms in Britain are at their third highest level on record despite a crackdown on bad behaviour by regulators and new laws since the financial crisis to protect customers from misselling.The number of complaints about packaged bank accounts more than doubled and the complaints about pension plans surged by a quarter, the Financial Ombudsman said on Thursday."It's been another year of big numbers," Chief Ombudsman, Caroline Wayman said. "W


UK winter floods to cost insurers 1.3 billion pounds in pay-outs 25 May 2016

LONDON Flood damage in Britain from winter storms has resulted in claims for more than 15,000 homes and businesses and is likely to lead to pay-outs of 1.3 billion pounds, the Association of British Insurers estimates.

UK motor insurers make underwriting loss in 2015 25 May 2016

LONDON UK motor insurers made an underwriting loss in 2015 and that loss is likely to deepen this year as higher insurance taxes encourage drivers to shop around for the cheapest deal, a survey from consultancy Deloitte said on Wednesday.


Investors bank on bookies for Brexit trends as pollsters sow confusion 24 May 2016

LONDON Investors seeking guidance on whether Britons will vote to leave the European Union are relying as much on bookmakers and punters as the established trackers of political trends, opinion pollsters.

French insurer AXA sells last UK life and savings business

PARIS French insurer AXA is selling its UK investment and pensions business to Phoenix Group, completing a well-flagged exit from a mature life assurance market to focus on faster-growing emerging economies.

British bank competition plan falls short of challenger hopes

LONDON Long-awaited measures to break the market dominance of Britain's biggest banks, including a cap on fees for unauthorised overdrafts, were criticised on Tuesday by consumer groups as insufficient to boost competition.

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