View more on these topics

Halifax swoops in on St James

Halifax, the UK&#39s largest mortgage lender, is buying a 60 per cent share in St. James&#39s Place Capital in an agreed takeover which values the life insurer at £1.27bn .


The £760m purchase gives the bank a bigger share of the long-term savings market among the wealthy and compliments Halifax&#39s existing savings business which it conducts through its branches and its IFA only life office Clerical Medical.


St James&#39s Place Capital will remain an independently managed and separately listed public company for the long term and start a private bank using Halifax&#39s systems.


Halifax is also buying 15.8 per cent of the life insurer from Prudential, the UK&#39s largest life and pensions group, at 300p a share.

Recommended

ISA boost may herald simplification

The ability to invest £7,000 into an ISA for 2000/2001 rather than the anticipated £5,000 will give savers a boost.There may be even better news in prospect as a review of the operation of ISAs will start in 2000 and will look at the problems encountered during their first year. Hopefully this will lead to […]

North South housing divide may be closing

The latest survey by the Royal Institution of Chartered Surveyors shows the first signs the North-South gap in house prices may be starting to close.Over the last month there has been a sharp upturn in the property market in the North West and Yorkshire & Humberside, with further strengthening in the Midlands and Wales. Even […]

ISAs, PEPs, TESSAs

Following the introduction of the Individual Savings Account (ISA) last year, it is hardly surprising that there were no announcements of any new scheme under this heading. However the Chancellor announced that the first year limit for the ISA subscription (£7000) which was due to reduce to £5000 from 6 April 2000 will instead be […]

Interest rates to remain static

UK interest rates will remain unchanged following a unanimous decision by the Bank of England&#39s Monetary Policy CommitteeThe move announced today in the minutes of the MPC&#39s meeting two weeks ago showed all nine members voted to leave the official cost of borrowing unchanged at 6 per cent The announcement follows speculation that the committee […]

Welcome to The Brunner Investment Trust PLC

Welcome to the latest update for The Brunner Investment Trust PLC from the trust’s portfolio manager Lucy Macdonald. Market Review Global equities ratcheted higher throughout February, buoyed by optimism about global growth and corporate earnings. All regions advanced, although Japan tended to lag many other markets. In sector terms, healthcare, information technology, consumer staples and […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment