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B&B group fights bank plans

An anti-demutualisation lobby group is trying to unite Bradford & Bingley staff to stop the building society from becoming a bank.

Save Our Building Society is hoping it can bring 3,000 B&B staff together in support of seven pro-mutual resolutions. The resolutions will be presented at the societies annual general meeting in April next year.

SOBS co-ordinator Bob Goodhall is calling upon staff to do there bit to stop the “job massacre” conversion may lead to.

A B&B spokesperson says: “We can&#39t stop staff from doing anything, but in practically all cases it will fall on deaf ears. Its like trying to lock the door after the horse has bolted.”


Hot gossip fuels share surge

Online sites offering &#39top tips&#39 on investments have been fuelling big share price rises, according to the Financial Times.The occasional accurate forecast on money sites is seen to be stoking a boom. Although regulators and the stock exchange are worried about leaks of insider information, &#39strong rumours&#39 invariably prove to be inaccurate.

Lincoln National sells UK arm

US Life group Lincoln National is selling its British subsidiary following a strategic review.The review has forced the parent company to generate a further £70.4m to cover possible pension misselling compensation costs.Two years ago it designated £254m to cover the costs, believing this amount would cover the compensation claims adequately.British staff were “shocked” at the […]

ABI quality drive

The ABI has officially announced the launch of a quality mark for financial services. The Pensions, Protection and Investments Accreditation Board will be an independent body design to set standards, it claims have been called for by consumers groups, the Government and the industry.Products will be awarded a quality mark based on meeting clarity of […]

Attack on Government pension planning blight

The National Association of Pension Funds has attacked the Government for making creating a “planning blight” causing uncertainty in company pension schemes .The climate of uncertainty is being created by the Government&#39s continued consultation on stakeholder pensions. The NAPF annual survey of 700 pension schemes revealed 72 per cent of money purchase company pensions still […]


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