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Halifax and BoS decision delayed for three weeks

Halifax and the Bank of Scotland will have to wait another three weeks until they learn if they will be allowed to merge.

The Office of Fair Trading has announced it will delay its decision about whether the two banks will be allowed to join for three more weeks. It had been expected to make a ruling this week.

The news comes as speculation increases the Government will make public its long awaited decision about the Lloyds TSB and Abbey National merger on July 10. A DTI spokesperson, who is conducting the review, has confirmed it is aiming for that day.


Cazalet predicts stakeholder slaughter

Influential analyst Ned Caz-alet has predicted that stakeholder willinitiate widespread slaughter in the life industry while claiming that theIFA sector is due for a radical shake-up. In his influential Life 2001 report, Cazalet says IFAs will decrease innumbers by a third over the next five years. He criticises their “generallylimited skill base”, lack of financial […]

Outside Edge David Ferguson

The FSA launched the public and industry consultation phase of itswith-profits review last week at an open meeting aimed at addressing thekey issues. Speakers were well weighted between advocates and critics representing themain strands of interest from product providers to IFAs and the Consumers&#39Association. That so few life companies are prepared to publicise the return […]


Aah – the smells of summer. The scent of flowers in bloom, steaks burningon the barbecue, the smell of rotting compost and, for the second yearrunning, the stench as the corpse of a once respected insurance companyrapidly decomposes in the summer heat. Last year, Equitable Life. This year, Independent Insurance. One a mutuallife insurer catering […]

Speculation grows over Old Mut successor

Speculation is growing over the likely replacement of Old Mutual chief executive Mike Levett, with the firm&#39s life insurance chief executive Jim Sutcliffe leading the pack.Levett, aged 62, has two years left on his contract, but has withdrawn his entire accrued pension benefits, worth over £7m, fuelling rumours of his departure.Two other internal candidates are […]

Harris Associates' view on the UK’s vote to leave the EU

By David Herro, Partner, Deputy Chairman, Portfolio Manager and Chief Investment Officer of International Equity at Harris Associates Britain’s vote to exit the European Union has led to significant uncertainty across global markets. We believe market impact of this uncertainty, though severe, is more of a shorter-term phenomenon which will provide an opportunity for long-term […]


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