Bank of England governor Mervyn King today signalled a hike in interest rates to 6% was off the cards and hinted policy-makers were ready to cut the cost of borrowing if the credit crisis deepened.

Europe’s largest mutual assurer Standard Life said today it had continued to make progress in re-positioning its business as it prepares for a FTSE listing next year.

Irish software service company Delphi Technologies has won a major contract with Standard Life Bank to fulfill a number of functions including converting the British bank's systems for euro changeover.