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Aberdeen profits boost

Aberdeen Asset Management profits soared by 76 per cent year ending September as result of strong UK retail growth and buoyant sales of ISAs.

Pre-tax profits were up from £8.7m to £15.3m year ending September 30 compared to the same time last year. Assets under management rose 23 per cent to £16.1bn.

AAM chief executive Martin Gilbert said the performance represented “the best ever period of organic growth in the group&#39s history.”


On-line mortgage competition hots up

Money Supermarket is launching a new website aimed at directly competing with the on-line mortgage service provided by John Charcol.The site claims it will offer consumers the chance to compare every single mortgage deal available.Simon Nixon, a spokesman at Money Supermarket, said: “It compares very favourably with our main competitor John Charcol, which only has […]

FSA lays down law for directors

The Financial Services Authority is setting out proposals to ensure directors have clearly defined responsibilities, making them more accountable to their staff.Senior managers are expected to be held directly responsible for compliance and regulatory requirements. The plans should become law next year.

Economists predict no change on interest rates

Most economists predict the Bank of England will hold interest rates over the next week.A Reuters survey of 35 economists found more than half believed the Monetary Policy Committee, which makes decisions on rates, will leave them unchanged. Bank of America spokesman Rob Hayward, said: “Since there hasn&#39t been any untoward news on inflation and […]

Woolwich feels pinch

The Woolwich admits it is feeling the pressure from new players offering savings rates above the bank base rate.In a statement the bank said it has suffered a net outflow of deposits as a result from competition from new entrants The former building society said it had attracted customers to its fixed-rate savings accounts, but […]


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