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Acquisitions start to pay off for New Star

New Star made an operating profit of £10.6m in the year to December 2003 as its acquisition programme began to pay dividends ahead of a planned flotation in the Autumn. The company, which made a loss of £9.2m in 2002, saw turnover more than double to £45.9m, which it attributes to its recent purchases, organic growth and strong equity markets. New Star is expected to be valued at as much as £400m at flotation.

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B&B to focus on core lending business

Bradford & Bingley announced today as part of its strategic review that it is to focus on its specialist lending business Mortgage Express and on its own-brand residential, commercial and housing association lending. Group chief executive Steven Crawshaw says: “Bradford & Bingley will simplify, clarify and continue to build upon its core propositions of specialist […]

Gender for change

The House of Lords’ EU sub-committee on social policy and consumer affairs has announced details of an inquiry on EU proposals prohibiting the use of gender criteria in determining prices for products such as car insurance, pensions and annuities. Individuals and organisations such as independent financial advisers are invited to submit written evidence to the […]

Pink opens its loan club to Inter-Alliance

Pink Home Loans and Inter-Alliance have formed a strategic partnership giving the network&#39s members full access to Pink Home Loans mortgage club. The club has a panel of 42 lenders and offers 24-hour payment of commission, access to a legal services provider, a range of secured and unsecured loans and self-build loans. Inter-Alliance mortgage development […]

Forsyth keeps eye on UK funds

FORSYTH PARTNERS FORSYTH UNITED KINGDOM FUND Type: Offshore Oeic fund of funds Aim: Growth by investing in open-ended UK equity funds Minimum investment: Lump sum £5,000 Investment split: 100% in open-ended UK equity funds Place of registration: Dublin Charges: Initial 1%, annual 2% Commission: Subject to negotiation Tel: 020 8649 9440 The Forsyth United Kingdom […]

Testing the Foundation

The global economy isn’t headed into recession, at least not yet. This month, David Lafferty, Chief Market Strategist at Natixis Global Asset Management, examines current capital market and portfolio risks for signs of recession. Click Here for Capital Market Notes

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