A profit warning from Homeserve had investors heading for the exit this morning, with shares in the house repairs and insurance group sliding as much as 15.7pc.

The FTSE 250 company disclosed that profits both in 2014 and 2015 would miss market expectations, news that sent the group to the bottom of the mid-cap index. UK customers are expected to fall to 1.9m by March next year, from about 2.25m in 2013, while 300 jobs in Britain would be cut and the value of its warranty business in France would be written-down, Homeserve said. To add to the uncertainty, traders are still waiting for the outcome of an on-going Financial Services Authority investigation into accusations of mis-selling......Read more here

May 2012: AAD Blog posting: Homeserve boss's 'living expenses' do little to repair damage...Read more here
Despite an FSA investigation into alleged mis-selling at Homeserve, and a share price that has fallen 70pc over the last year, the board has not curtailed its lavish payouts