The Royal Bank of Scotland has revealed it plans to cut 2,600 jobs across the group, 2,000 of which will be from its insurance division. The news comes after RBS reported an oper-ating loss of £21m for the first quarter of 2010.
In its first Budget following the landslide general election victory in 1997, New Labour changed the structure of tax-protected savings from Peps to Isas.
The Investment Management Association’s figures show that in the first full tax year of Isas, 1999-2000, £8.8bn net of people’s savings went into tax-wrapped unit trusts and Oeics.
Complaints against advisers fell from 17,186 in the first half of 2009 to just under 14,000 in the second half, with uphold rates among the lowest of all firm types at 31 per cent, down from 35 per cent.
One-third of insurers are not confident the industry will be ready for Solvency II by 2013 while 11 per cent say they are considering relocating away from the European Union.
Baillie Gifford converted its UK-focused income fund into a global mandate earlier this year, allowing manager Dominic Neary to access dividend growth across the world.
It is one of the (very) few things Donald Trump and Hillary Clinton agree on: the cost of healthcare in the US must be brought under control. Simon Edelsten, manager of the Artemis Global Select Fund, explains what this means for investors. Click here to read the full article
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