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Drawdown boosts Pru sales but new business profits down

Sales in Prudential’s UK business are up 8 per cent year-on-year as bonds, personal pensions and drawdown products offset the loss of annuities, the firm’s quarterly results show. UK retail sales, on an annual premium equivalent basis, hit £169m in the three months to March, compared to £157m to the same quarter last year, a […]

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Tesco posts record loss of £6.4bn

Tesco has posted a record loss of £6.4bn, one of the biggest losses outside of banking in British corporate history. In its annual results, published today, the supermarket group revealed it made a pre-tax loss of £6.38bn in the year to the end of February, compared with a pre-tax profit of £2.3bn the previous year. […]

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Cameron warned over rapid EU referendum ‘dangers’

Prime Minister David Cameron has been warned accelerating the deadline for an EU referendum could undermine efforts to seek reform to the existing settlement, the FT reports. The Conservatives have promised an in/out referendum in 2017, although some – including Labour leadership candidate Andy Burnham – want Cameron to accelerate the timetable to reduce uncertainty. […]

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