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Lloyds TSB staff back Abbey merger

Lloyds TSB&#39s staff union has backed its proposed takeover of Abbey National subject to a guarantee on retention of their jobs.

The Lloyds TSB union has written to the Office of Fair Trading saying it supports the takeover.

In its internal newsletter, the union&#39s general secretary Ian Partridge says: “With high levels of natural wastage we do not believe a merger need adversely affect the job security of our members.”

UNIFI, the banking union, opposes the merger, which it believes will inevitably lead to job losses, although Lloyds TSB claims only 8,000 jobs will be lost should the deal go ahead.


Will stakeholder be all bark and no bite?

On your marks, get set, woof. If the stakeholder pension is rated in terms of the number of ridiculous puns it produces from the country&#39s personal finance hacks, then success is guaranteed. The theme is working dogs but, rather than dour hill-country types, these sheepdogs are a cutesy, talkative sort. New Labour&#39s campaign is better […]

Independent View

It may have escaped your not ice but Fidelity Invest ments is to cease paying ren ewal commission to discount houses which rebate part of it to their clients. This move will be exceptionally popular with all hard-pressed IFAs struggling to give a proper service in the face of increasingly fierce and sometimes seemingly unfair […]

C&G launches new two year bond

Cheltenham & Gloucester is to launch a two year fixed rate bond paying 5.5 per cent until February 2003. This replaces the previous two year bond launched in October 2000. The 5.5 per cent rate is paid on investments over £500, and additions can be made for as long as the bond is open to […]

Tory says the CML is &#39holding up white flag&#39 on packs

Shadow housing minister Nigel Waterson has attacked the Council of Mortgage Lenders for caving in to Government pressure over seller&#39s packs. He accuses the CML of “holding up the white flag” to senior officials at the Depart ment of the Environment, Transport and the Regions, who ran the Bristol trial of the packs last year. […]

Navigating volatility

The making of any fund can be seen in how it responds to crises and opportunities. In this short video, Head of Multi Asset at Royal London Asset Management Trevor Greetham outlines how the Royal London Global Multi Asset Portfolios or GMAPs navigated through Brexit and the US election cycle. He also highlights the importance […]


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