Investment and savings business falls 60%:
Investment and savings new business fell by almost 60% over the last year as the economic situation worsened, according to the ABI.
With more than 5.5 million fixed rate products worth over £110 billion maturing in 2010 - the largest number maturing in July - HSBC warns investors that with savings rates languishing at historic lows, many UK ``re-investors'' will see their investment income fall off a 'savings precipice' this year.