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FSCS set to pay back 42m surplus

The FSCS is set to refund a surplus of 42m to relevant firms in the general insurance contribution group before the end of the financial year 2005/6. This is partly a result of lower than anticipated compensation payments in the sector. It is also unlikely to raise a levy in 2006/7.

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Investment View: Hold firm on Japan wobble

It was just my luck to be in a broadcasting studio immediately after the Japanese stockmarket was forced to close early due to sheer weight of selling orders. It was a first for the world’s second-biggest stockmarket.

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