George Osborne, the chancellor, says private insurers would be barred from giving free advice to pension customers. Photograph: Jack Taylor/Barcroft Media.
ZURICH (Reuters) - Credit Suisse Group AG reported its biggest quarterly loss since the peak of the financial crisis in 2008, the result of a 1.6 billion Swiss franc (�1.04 billion) settlement with U.S.
Arm's royalties grew only 2 per cent in the second quarter in dollar terms, as the Cambridge-based chip designer blamed sluggish demand for smartphones on mobile operators moving to sell off older 3G handsets before they push new 4G devices.
Arm Holdings led the FTSE 100 in morning trade on Tuesday after it reported strong demand in licensing its technology. The chip designer recorded a 9 per cent rise in second-quarter pre-tax profit to �94.2m as revenues rose, also by 9 per cent, to �187.1m.
Cake brand Mr Kipling is to be the subject of a major relaunch and marketing push as its owner plots its fight back following a slide in half-year profits.