Tenet has reported a 40 per cent increase in profit despite taking a hit on a failed employee benefits venture. The network, which operates an investment network, a mortgage and protection network and a directly authorised support service, reported a 10 per cent increase in turnover to £168.6m. However, margins remain thin, with profits coming […]
Standard Life Aberdeen has confirmed it has set aside a budget of around £35m to pay for investment research as required by Mifid II. In September, the £655bn fund giant, which resulted from the August merger of Standard Life Investments and Aberdeen Asset Management, said it was going to absorb all research costs relating to the new […]
Prudential is to demerge its UK and European business M&G Prudential, resulting in two separately listed companies. After the merger, shareholders will hold interests in both Prudential and M&G Prudential. The division of the group will see Prudential focus outside the UK on the US and Asian markets. Prudential also announced today the sale of […]
A Channel 4 documentary has revealed further allegations of a lack of training and bias among adjudicators at the Financial Ombudsman Service. In an undercover investigation by the Dispatches programme, investigators express fears that “some people have just been thrown in with no training at all.” An investigator tells the undercover reporter: “There were people […]
Structural changes across the global economy are having unexpected consequences for the recovery
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