HBOS

Benny Higgins, chief executive of retail at HBOS, will step down at the end of the year as the company restructures its retail and investment divisions.

On the face of it, the U-turn by HBOS could be considered by some as embarrassing, but I look at it as proof the mortgage market is working well - and that has got to be good for customers and product providers alike.

Ten years on from the financial crisis in Asia which started on 2 July 1997, new research from HBOS shows the region has largely recovered.

The market for green mortgages is set to grow as consumers become more environmentally aware and demand more ethical financial products.

Renewed warnings from the Bank of England over attempts by companies to push up prices and other risks of inflation in the medium term, yesterday reinforced the City's belief interest rates will rise again before summer, says the Times .

House prices are rising at their slowest pace since last June, giving further signs the nation's booming housing market may be running out of steam, reports the Guardian.

HBOS today shored up its strategic position in its 10-year banking partnership with J Sainsbury, paying £21m to buy a further 5% of Sainsbury's Bank, the embattled supermarket-based financial services operation, reports the Times .

The Financial Services Authority has announced which industry figures will lead the working groups of its retail distribution review, launched in June last year.

Despite a rise in the amount of savings invested in annuities over the last year, 60% of consumers are failing to use the Open Market Option.

HBOS has blamed a "technical error" for incorrectly debiting the current accounts of around 7000 of its mortgage customers up to three times in as many days.