The PIA is demanding large IFAs that pose the greatest potential risk of Year 2000 failure provide details of their arrangements.These firms have been asked to complete a Year 2000 Completion Statement which has to be signed by a firm's senior executive officer, to confirm sufficient action has been taken to ensure business continues as […]
NatWest has hit out at the Bank of Scotland claiming it is avoiding key questions over the Edinburgh-based bank's £22bn hostile takeover bid.The beleaguered bank also says BoS's proposals do not stand up to examination and are characterised by rhetoric rather than detail.
Sales of life insurance, pensions and investment totaled £9.5bn in the third quarter of 1999, an increase of 20 per cent on 1998.Overall the value of life insurance policies sold rose 31 per cent to £6.5bn, while pension sales fell by 8 per cent to £1.3bn.Sales of Isas and Oeics were also up 8 per […]
Standard Life Bank is updating its existing IT systems for mortgages and savings in a move to penetrate new markets.The bank has signed a contract for £1,000,000 with Lynx Financial Systems, and intends to add to its portfolio of telephone banking products.
Since 2007, the sharp drop in interest rates has lifted the valuations of all assets, with the longest duration assets gaining the most. The UK’s decision to leave the European Union has caused another flight to “safety”, with a series of record lows in bond yields and record highs in bond prices. With the German […]
Expectations for a UK interest rate rise in August hardened after the services sector reported its fastest growth since last October on Wednesday, and were further buoyed by comments made by Bank of England governor Mark Carney in a speech given to the Northern Powerhouse Summit in early July. The IHS Markit CIPS Services Purchasing Managers Index, […]
BlackRock and Schroders are frontrunners to manage £109bn for Lloyds Banking Group’s Scottish Widows Investment Partnership funds, Bloomberg reports. The London-based bank is set to make its decision in the third quarter of this year, after it invited bids for its contract at the start of this year after ending the agreement it had with […]