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HBOS says funding rumours are ‘complete utter nonsense’

Mortgage giant HBOS has dismissed reports that it was facing funding problems as “complete utter nonsense” as it saw its shares fall by over 7 per cent today.

On why it has seen its shares fall, a spokesman for the lender says that it was down to market conditions which has seen share prices go up and down on a daily basis.

He adds: “We have exceptionally strong capital resources. HBOS is one of the strongest financial institutions so there is absolutely no foundation whatsoever in these rumours.”

It is not the only lender that has seen rumours circulating that it has had to go to the Bank of England for an emergency loan. Alliance & Leicester saw its shares fall by as much as 31 per cent on Monday but saw its shares rebound the following day.


FSSC widens scope of training accreditation

The Financial Services Skills Council’s Accreditation board of Training Excellence for Providers is allowing a wider range of evidence to be submitted so that trainers can demonstrate their expertise and gain accreditation.The scheme is designed to demonstrate that training by accredited providers will add real value to their customers. The accreditation process involves audits for […]

Critical strategies

The opening article of a mini series on critical-illness insurance

‘Tune into specialist channel’

Protection providers should invest in advisers who specialise in protection and stop pouring money into “uninterested part-timers”, says Lifesearch managing director Tom Baigrie.Speaking at the Association of British Insurers’ Protection Conference in London last week, Baigrie claimed that providers need to rethink their distribution channels if they want to boost sales and close the £2.3trn […]

Anand quits DAM to join F&C as Euro equity head

F&C has appointed Paras Anand to the new position of head of European equities with overall responsibility for continental and pan-European equities teams.He is joining from Deut-sche Asset Management where he has been director of European equitiesAnand, who will report to F&C head of equities Richard Wilson, has a decade of experience managing equities and […]

Tax year-end planning for annual allowance

Last tax year-end there was a lot to think about in relation to planning. The introduction of the tapered annual allowance and the implications of moving to a fixed pension input period, the reduction in the lifetime allowance and potentially applying for protection, and the concern about changes to tax relief, to name a few. […]


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