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Egg hoping to break even by New Year

Internet bank Egg saw its operating loss fall in to £81.8m in the third quarter of 2001, down from £115.1m for the same period in 2000 and says it expects to break even before the end of the year.

Egg says it gained a further 83,000 new customers in the third quarter of 2001, taking the total to 1.6m since launch.

Egg chief executive Paul Gratton says: “Our core UK business remains on-track to break-even at some point during the fourth quarter. With revenues growing strongly quarter on quarter and costs remaining flat we are moving confidently towards profitability.”


Making the best choice

Recent events have left some life companies ailing and IFAs struggling to work out which companies to place business with.Many IFAs recount a lack of confidence from clients and a general insecurity about the health of companies. They are also critical of the lack of information from the FSA.Richard Jacobs Pension & Trustee director Richard […]

Massow rounds on ex-partner after he buys back his company

Ivan Massow has launched an extraordinary attack on his former business partner after buying back his own company.Massow says Towry Law and venture capitalist Cata-lyst were also interested. Massow Rainbow went into receivership two weeks ago after an expected cash inj-ection from Catalyst failed to go ahead.The client list was bought from the receivers by […]

CSFB protects capital through Titans

Investment bank Credit Suisse First Boston (CSFB) is aiming its capital protected Tessa-only Isa (Toisa) at investors with maturing Tessas and those who are unhappy with the variable rate accounts of their original Tessa providers.The global titans Tessa plan is linked to the 50 stocks listed on the Dow Jones Global Titans index. These include […]

Ritchie urges caution on compulsion

Scottish Equitable is calling for a full industry debate on compulsory pensions, believing the current view favouring compulsion is a knee-jerk reaction to the perceived failure of stakeholder.In his latest Ritchie Paper, pensions development director Stewart Ritchie outlines three options. These include keeping the status quo, with limited compulsion for employers and employees through the […]

In Focus Ebola cover - thumbnail

White paper — In Focus: Ebola Virus Disease

Jelf Employee Benefits focuses on Ebola Virus Disease (EVD) and what this means for businesses with operations in West Africa. This will be of particular interest to those with employees either travelling to, or living within, West Africa, the area affected by the most catastrophic outbreak of Ebola to date.


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