HBOS

Unemployment is set to rise to its highest level for almost a decade as the economy deteriorates, The Daily Telegraph reports today.

UK taxpayers will own as much as 43.5% of the proposed Lloyds TSB and HBOS ‘superbank', under the new revised takeover terms.

Leading insurers are leaving HBOS staff out in the cold by refusing them payment protection insurance (PPI) at a time when they may need it most, according to Burgesses.

Less than a fifth of customers are convinced the FSA is effectively regulating the financial services industry, according to a new survey by YouGov conducted after Lloyds' bid for HBOS.

The abrupt falls of both Lehman Brothers and HBOS have highlighted the shortcomings of the credit rating system, providers warn.

The FSA from midnight last night banned the short-selling of financial stocks, in a bid to ease the extreme volatility in the beleaguered sector.

Gordon Brown says steps will be taken to bring an end to "irresponsible behaviour" in the money markets following the extraordinary events in the UK financial sector this week.

The merger between Lloyds TSB and HBOS may prove detrimental to mortgage borrowers who have benefited in the past from differing ranges from the lenders, according to market analysts.

Advisers expect Clerical Medical and Scottish Widows to continue to operate separately despite today's confirmed takeover of HBOS by Lloyds TSB.

Central banks around the world are to auction up to $180bn in a coordinated action to help relieve liquidity problems.