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Lloyds TSB eyes up Alliance & Leicester

Reports have emerged that Lloyds TSB is eyeing up rival bank Alliance & Leicester following the announcement of its strong full-year profits of £3.9bn on Friday.

It is understood that Lloyds TSB is also looking at Bradford & Bingley, another lender that has suffered badly as a result of the credit crunch.

The Telegraph says that it is still ‘early days’ and that the bank’s board had yet to formally discuss an approach for one of its rivals. It says that the board has also not yet reached the stage of appointing external advisers to assist it in its deliberations.


Selestia aiming for 50bn on platform

Selestia Investment Solutions aims to increase the assets on its platform from 30bn to 50bn within five years.UK business unit chief executive Brett Williams says platforms must have deep pockets and be able to manage their scale. He says many entrants will be unable to compete on one or both of these elements.Williams says many […]

Intrinsic buys Mint but loses Perfect Day

Multi-tie network Intrinsic Financial Services has bought Mint in its first move into IFA distribution.Intrinsic will take on Mint’s 240 registered individualsto add to its 1,250 advisers. Mint will continue as a brand and will be run as a separate entity, with adviser contracts staying with Mint.Mint chief executive Paul Gains and the other members […]

Miles backing futures’ view on property falls

Morgan Stanley chief economist David Miles believes moves in the futures market anticipating a 10 per cent fall in house prices in the next year are on the right track.Speaking at last week’s Association of British Insurers research conference in London, Miles said he also agreed with future market forecasts suggesting a 3 to 4 […]

Cash landing

The importance of dividends has come to the fore once again. Take Northern Rock investors. Hundreds of thousands of the former building society members got free shares worth around £4.55 each when it demutualised in 1997.


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