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MBNA poised to buy Egg – reports

MBNA is believed to be about to buy Egg from Prudential after reentering the bidding for the internet bank.

The auction began in January but initial bidders Royal Bank of Scotland and Lloyds TSB have since withdrawn their interest.

Reports suggest that the offer from US credit card giant MBNA may be the last chance for Prudential to find a buyer for Egg.


&#39IFA networks will lose market share to banks&#39

Squeezing margins will force IFA networks to move towards multi-ties following depolarisation, losing market share to highstreet banks in the process, according to John Scott & Partners chief executive Toby Strauss. He told the MM round table that depolarisation would likely have a significant impact on the IFA sector. Strauss, who until he joined JS&P […]

Bright Grey raising reviewable CI rates

Bright Grey is increasing its reviewable critical-illness rates from this week, soon after it found itself on the receiving end of IFA criticism for delays to its service. The delays are significant for the Royal London-owned protection specialist as, at launch last year, it boasted of the levels of service it planned to provide to […]

Inter look for further capital and cost cutting

Inter-Alliance has indicated it will need to find alternate ways to raise capital following yesterday announcement that merger talks with Berkeley Berry Birch had collapsed. The company says it is pleased with progress made in improving its operating loss but that further “cost saving initiatives across the Inter-Alliance Group” were necessary. It says it now […]

Product matters

You may groan at the thought of another New Star fund and wonder how this one can differentiate itself from some of the other funds in the stable. Well, for a start, its UK special situations offering is a tiny fund at only £2.5m and it is not being run by a fund manager you […]


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