Friends Provident wrote a new chapter in its 175-year history today after unveiling an £8.6bn (€12.8bn) merger deal to create a “significant” new force in the British insurance industry.

Two of the UK's biggest life insurers - Friends Provident and Resolution - today confirmed they were in talks over a possible £8.3bn (€12.35m) merger.

A strong gain at steel group Corus could not save the FTSE 100 Index from falling into negative territory during a lacklustre session for the London market today.

Corus and Vodafone were two of the biggest risers in the FTSE 100 Index following positive news for investors in both companies today.

The impact of the falling greenback was felt around the world this week as the pound soared towards the magical two dollar level.

FRIENDS First and asset management company, F&C Ireland are set to target Irish charitable foundations through the establishment of a new umbrella fund called the Charities Managed Fund.

SPECULATION is mounting that AIB will sell out of its US minority stake in M&T valued at €2.3 billion.

Friends Provident today sank 6% after it said it planned to issue new stock to fund a merger of its Isis asset management arm with Eureko’s F&C.

London shares struggled to make significant progress today after a profits warning from Morrison’s and last night’s losses on Wall Street.

Irish Life Investment Managers topped a survey of Irish pension fund investment managers in 2003.

AFTER three years of major losses, world share prices have begun to recover, boosting pension fund performances in their wake.