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Coventry Building Society rejects Hardern overture

Coventry Building Society has rejected a move by butler and self-proclaimed carpetbagger Michael Hardern to become a director of the building society to force its conversion to a listed company.


Hardern has stepped up his campaign to compel the biggest building societies to convert to banks. He is targeting seven societies this year: Britannia, Chelsea, Coventry, Leeds & Holbeck, Portman, Skipton, and Yorkshire Building Societies.

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Arthur Andersen sets up retail financial services consultancy

Consultants Arthur Andersen have launched a new retail financial services arm to help life offices, banks and lenders refine their business strategy.Senior manager Tim Clayton-Ball says that a significant part of the new unit&#39s work will focus on the IFA distribution channel particularly on the insurance side.The new arm will help companies co-ordinate their existing […]

Portman launches five mortgages for New Year

Portman Building Society is celebrating the New Year by launching five new mortgages.The range includes a capped-rate mortgage at 5.99 per cent until March 2001 and a no fees fixed-rate mortgage at 6.75 per cent until March 2004.A fixed-rate at 5.99 per cent until march 2004 and a mortgage offering a 2 per cent discount […]

Mercantile launches new capped rate mortgage

Mercantile Building Society is launching a new mortgage capped until May 2002.The interest rate will be capped at 6.39 per cent for those paying a 25 per cent deposit and 6.59 per cent for those paying the minimum 5 per cent deposit.The scheme offers free unemployment insurance for 12 months and any high risk charge […]

St Paul buys L&E&#39s PI business from Norwich Union

St. Paul International is buying London & Edinburgh&#39s IFA professional indemnity business from Norwich Union.Norwich Union acquired the £9m portfolio from London & Edinburgh Insurance in October 1998.St. Paul has purchased the right to invite renewal of policies as they fall due and will take over the handling of run-off claims.St. Paul chief executive officer […]

Where next for the price of oil?

Having stabilised at around $65 a barrel, many investors are questioning if the price of oil will rise, and when. Richard Hulf provides his view. Richard Hulf, manager of the Artemis Global Energy Fund, sets out his thoughts about how the oil price may move through the next six months. At the start of the […]

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