It's a part of the country that invariably evokes a sense of bucolic idyll; when we think of the West Country, scenes of Merrie Olde England, replete with rosy-cheeked cheese-rolling and apple-scrumping locals immediately spring to mind. And while there may still be some truth to the quaint rural cliche sold to tourists and out-of-towners, there is another vision of the South West that is...

Good news comes in fours at FTSE 250 life and pension fund consolidator Phoenix (PHNX) which is sloshing in cash. During 2012 profits and dividends increased, management reduced gearing while generating cash at the top end of its targets, sending the shares up 6.9% to 647.5p. Phoenix made a £410 million operating profit, up from £395 million a year earlier, and generated £690 million cash....