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NatWest attacks predators

The National Westminster Bank has hit out at its Scottish suitors claiming any takeover would offer poor value for money.

Natwest claimed the Royal Bank of Scotland&#39s bid held the same mix of inadequate value and high risk as the offer from Bank of Scotland.

Natwest also warned shareholders RBS is offering to pay mainly with its own shares, which have fallen as much as 21 per cent since the hostile bid was launched.

Natwest chief operating officer Ron Sandler says: “It would be unlikely there is much to talk about unless they put something more on the table.”


Pru turns to China

The UK&#39s largest life insurer, Prudential, has closed in on the Chinese market with the signing of a joint venture agreement with state-owned enterprise China International Trust & Investment Corporation.The agreement follows Prudential&#39s successful bid to become the first UK life office to win an operating licence from the Chinese government in May this year.The […]

FSA pro-Euro stance

The Financial Services Authority has warned London could be threatened as a leading finance centre if the UK never joins the single European currency.FSA chairman Howard Davies is saying Governments committed to staying out of the Euro indefinitely might deter large financial institutions from building on their London presence.Davies says: “I think for the moment, […]

Bupa launches fixed price product

Bupa has launched a medical insurance policy with a fixed price in a bid to challenge consumer concerns on future increases.Bupa Fixed Price Cover will freeze subscriptions for either five or ten years, regardless of how many claims are made. Consumers can choose paying through a fixed monthly account or a one-off lump sum.But while […]

Consumers split over endowment &#39misselling&#39

WORDS 132Consumers campaigners and regulators are split over the Financial Services Authority move not to launch a full-scale “endowments misselling” enquiry.According to the FSA around 3m households will be forced to pay £40-50 per month as endowments have not produced enough to repay mortgages in full.Around 60 per cent of the 10m endowment policies in […]


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