Over three quarters of UK adults (77.5%) said that the recent Coronavirus pandemic made them realise the importance of having savings to fall back on, according to a recent survey.

Pre-tax profit at Aviva dropped 29% year on year to £1.07bn for the first half of 2020, as the provider pledged to transform its performance and improve efficiency.

The Bank of England said it expects the economy to shrink by 9.5% in 2020, less  than the initial estimate of 14%.

The Competition and Markets Authority has provisionally blocked the ‘mega-merger’ of platform providers FNZ and GBST due to concerns that the tie-up would hit competition and may lead to investors paying more.

Expanding Chartered Financial Planning firm Fairstone has acquired Berkshire-based financial adviser Chiltern House as it continues its 2020 growth plans.

Close Brothers Asset Management has opened a new office in Chester to expand its services to local HNW clients and provide more space for its Financial Planners, investment managers and support staff.

Protection sales were down 13% year on year for the second quarter of 2020, according to a new report.

The Financial Services Compensation Scheme (FSCS) has boosted the Temporary High Balance (THB) protection for deposits of up to £1m from six to 12 months for deposit-taker failures which take place from Thursday.

Data from today’s Wealth and Assets Survey from the Office of National Statistics has shown that the self-employed continue to invest in property over pensions for their retirement.

British investors expect average annual returns in excess of 11% over the next five years despite the uncertainty caused by the Coronavirus pandemic.