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Old Mutual extends Skandia bid deadline

Old Mutual has extended the final closing date for its 3.3bn hostile takeover bid for Skandia from 21 November 2005 to 16 December 2005.
The insurer says it has received strong support among its shareholders for the offer, with 90 per cent of the proxy votes received prior to todays extraordinary general meeting in favour of the plan. The company requires just a 50 per cent yes vote to go ahead with the plan. The results of the meeting will be announced later today.
All the terms and conditions of offer set out last month remain unchanged and all applications for regulatory approval of the proposed acquisition have been submitted.


Tax differences could halt single Euro market

Tax differences between member states mean it will be very difficult to achieve a single retail financial services market in Europe, says FSA chairman Callum McCarthy. McCarthy told the Treasury select committee last week that having to integrate each individual state’s tax regime will be a huge obstacle to overcome and may never happen. He […]

Moneyquest appoints chairman to lead two-year expansion plan

Moneyquest has taken a key step in its plan to expand and challenge the leading mortgage broker firms with the appointment of its first chairman. Angus McSween will oversee the phone and online mortgage operation’s two-year plan and steer the company towards Aim listing. Managing director Steve Pollard and operations director Paul Reynolds aim to […]

Figure it out

A client from an Australian bank asked me how the regulated UK mortgage and general insurance markets are bedding in. I shared with him the numbers of directly regulated mortgage firms.

IFP retreats in row over chartered status

The Institute of Financial Planning has backed down from a legal showdown with the Privy Council over the CII’s launch of chartered status. Last month, the IFP accused the CII of trying to undermine its own certified financial planner accreditation with the launch of a chartered financial planner qualification. The IFP says the Privy Council […]

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EEF/Jelf Employee Benefits Sickness Absence Survey 2015

EEF stated in its 2015 EEF Manifesto that the UK’s growth prospects depend on people being fit, working and productive. Keeping people in work and helping people return to work is very important for the manufacturing sector. It means boosting productivity by getting people back into work as early as is possible, as well as fostering workplace cultures and environments that proactively manage individuals’ health conditions so that all can benefit from lower sickness absence outcomes.


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