Community, the union representing the vast majority of ex-employees of the former ASW steel company, has announced it will continue with its legal action against the UK government. Community is campaigning on behalf of its members who have lost a large percentage of their expected pension which they were told was guaranteed. The union will ask the for the case to be referred to the European Court of Justice. If successful the case could cost the Government between £1.5 and £2.5m.
Berry Birch & Noble Financial Services which is in liquidation is one of 16 firms the Financial Services Compensation Scheme has declared in default.
Derbyshire Building Society has appointed Andy Thorpe as its new retail sales director. Thorpe says: “I am delighted to be joining The Derbyshire, a progressive society that is committed to customer fairness. Part of my brief is to bring a strong customer focus to the Society following the recent launch of our How Fair Is […]
If the merger between Sofa and the LIA fails to go ahead it will be disastrous for the industry, according to former board members of both organisations. Ex-Sofa director Jo Smith says the merger is for the good of the industry, and if it is rejected by the membership it will be humiliating. She says: […]
Abbey for Intermediaries is offering IFAs and their clients a second issue of the Abbey growth options plan. This is a guaranteed equity bond linked to the performance of the FTSE 100 index for a six-year term. It has two options that investors can choose. Under option one, investors get all the average growth in […]
Nearly 12 months since sweeping to power, prime minister Narendra Modi has overseen a significant turnaround in India, which is now on track to become one of the most pro-growth, pro-investment economies in Asia. While the market has rallied 48 per cent over the last year in response to Modi’s reform agenda, what is the potential for further progress?
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Concerns have been raised about the independence of two directors at Neil Woodford’s £855m Patient Capital Trust after a report in The Times reveals they have jobs at companies in which the fund owns a stake. According to The Times, Patient Capital Trust chairwoman Susan Searle is also deputy chairwoman of Mercia Technologies, a quoted […]
Lloyds Banking Group’s pre-tax profits have jumped 23 per cent to hit £1.6bn for the quarter, latest results show. For the three months to the end of March, the bank has reported net income of £4,3bn, up 4 per cent year on year, as Lloyds sounded a bullish note on the prospects for the UK […]
Metro Bank’s chairman Vernon Hill has been re-elected despite opposition from activist shareholders such as Royal London. Hill has received criticism from a number of major shareholders over payments to his wife’s company Interarch totalling £21m since Metro Bank’s inception in 2010. The board at Commerce Bank previously ousted Hill from his former role at […]