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BoS war of words with NatWest

Bank of Scotland has hit out at National Westminster Bank&#39s defence strategy as “selective and unrepresentative” in the latest snipe of the hostile takeover bid for the bank.

The attack responds to Natwest&#39s defence document which slated most banking mergers as destroying value.

But BoS says Natwest&#39 s defence “clearly indicated its failure to understand the dynamics of modern banking” claiming it was only going on US evidence against mergers.

BoS chief executive Peter Burt says: “Its easy to look for problems and make generalisations based on selective data. It is more meaningful to develop forward-looking solutions and strategies to create value.”


ABI crackdown on fraud

The Association of British Insurers&#39 move to crackdown on industry fraud has received the public&#39s backing, according to a recent report.From an independent survey of 1,000 people 88 per cent supported the insurance industry&#39s toughened stance on fraud. The ABI also reports it has received 1,500 calls to its cheatline since its launch in April […]

Employers &#39blissfully unaware&#39 of stakeholder

UK employers are “blissfully unaware” of their stakeholder obligations, according to a survey by Scottish Equitable.Findings from 1,500 IFAs show 63 per cent believe employers are ignorant of their duties under the government&#39s upcoming stakeholder pension scheme.Industry experts are saying now is a good time to talk to employers and give them guidance.Scottish Equitable pensions […]

Top Cat-marks

Low-charging funds generally offer better value, according to new research.Fund analyst Fitrovia says Cat-marked funds, which charge a maximum of 1 per cent, have delivered returns on average 4.75 per cent better than higher-charging rivals.Out of the 2000 unit and investment trusts surveyed only 39 were Cat-marked.Norwich Union Investment Funds director of sales and marketing […]

Watchdog warning on share perks

The Financial Services Authority are urging caution to investors buying shares because they offer perks. FSA spokesperson Sarah Modlock says: “If people are buying equities they need to realise there is a risk attached to this. You should always seek professional advice.”IFA firm Hargreaves Landsdown offers a guide of 90 stockmarket companies who give perks […]


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