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

Charitible Giving

In the pre-Budget report on 9 November 1999 the Chancellor announced a package of tax incentives aimed at modernising and simplifying the tax system to boost giving to charity. The Getting Britain Giving package included: abolishing the £250 minimum limit for Gift Aid donations; allowing donors to join the Gift Aid scheme by telephone or […]

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 […]

National Insurance

In this Budget the cut in the employer&#39s NI rate from 12.2% to 11.9% from April 2001, announced in the November 1999 Pre-Budget Report, has been confirmed. A further reduction of 0.1% to 11.8% from April 2002 has been proposed.In the last Budget the Chancellor announced substantial changes to National Insurance to take effect from […]

Government accussed of diluting banking review

Don Cruickshank, has accused the Government of backing away from implementing his recommendations after pressure from banks. He had advocated the payment transmission systems operated by banks, which handle credit cards, cheque clearing and other transactions, be subject to a new regulator, Paycom. Cruickshank says following pressure from banks, the government has “watered down” its […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment