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Week in numbers

51.7% – The share of votes won by incoming French president Francois Hollande in last week’s general election.

2 – The number of terms David Webster, chief executive of Hanley Economic Building Society, has been chairman of the Building Societies Association after starting his second term last week.

£1.2bn – The surprise loss by JP Morgan traders after it made complex investments as part of its risky hedging strategy.

-0.3% – The estimated drop in gross domestic product for the eurozone in 2012.

-4.8% – The shock downward revision of construction output in Q1 2012 after it was originally believed to have fallen 3%, Office for National Statistics data shows.

€30bn – The amount of capital Spanish banks are being forced to set aside by the government to protect against losses from property loans.

35% – The percentage of home movers who expect house prices to rise in the next 12 months, says Rightmove.

102,000 – The estimated number of homes the government believes can be built on unused land it has identified.


Leave will writing to the professionals

The Legal Services Board has spent the past nine months examining will writing and estate planning amid concerns that clients could be at risk of fraud, poor service and failure to deliver redress if things go wrong.

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David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.


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