One of the UK's most respected fund managers has launched a fund investing in the debt of European banks and other global financial institutions.
As Which? warns of consumer chaos, firms insist evidence supports their faith.
There were further signs of deterioration in the housing market today when official figures revealed falls in prices and the number of sales.
Consumers cut their debts at the fastest rate in two decades during December amid signs they dipped into savings to pay for Christmas.
The biggest winners from the payment protection insurance mis-selling scandal are ambulance chasers. The firms, which offer to help people with their claims, pocket around 25 per cent of each successful claim they manage.
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