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Scottish Mutual appoints Fraser as chairman

Scottish Mutual has appointed William Fraser as chairman following the retirement of Robert Jack. Fraser was Permanent Under Secretary of State at the Scottish Office from 1978 to 1988 and has been a member of the board since 1990.

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C&G cuts rates on offshore accounts

Cheltenham & Gloucester has cut the interest rates on its Channel Islands&#39 investment accounts.The rate on its Guernsey 30 account falls to 6.5 per cent gross per year from 7 per cent for balances of £100,000 or more.Accounts with £25,000 and £5,000 on deposit will drop to 6.45 per cent and 6.25 per cent from […]

Watson survey shows executive pay continuing to move ahead in 1998

City fat cats are set to become fatter as executive pay continues to rise above inflation according to actuarial consultants Watson Wyatt.The latest report by its remuneration committee found that chief executives&#39 earnings grew by 9.2 per cent and board directors earnings grew by 13.5 per cent between 1997 and 1998It says this reflects the […]

Euro to make little impact on IFA business unless UK joins

IFAs are united in their belief that the euro will have no immediate effect on the retail financial market unless or until the UK joins the single currency.They say that although the euro has already shown signs that it could be as strong as the US dollar it will have very little influence on IFA […]

Building Society lending falls £233m in November

Building society mortgage lending fell by £233m between October and November, according to Building Societies Association figures.Net advances dropped to £534m in November from £767m in October. When seasonally adjusted, the fall is less significant. Net advances are down £623m in November from £684m in October.BSA director general Adrian Coles says: &#34It is important not […]

UK housebuilders remain a value trap – despite post-Brexit falls

Despite the sharp drop in housebuilders following the Brexit result, valuations in the highly illiquid market are still at elevated levels. And whilst some investors may take comfort from superficially low price/earnings multiples, are earnings sustainable over the long term, asks Holly Cassell, Assistant Manager of the Neptune UK Mid Cap Fund. Click here to […]

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