ABERDEEN Asset Management could be heading for the courts again, this time to sort out an acrimoniou...
ABERDEEN Asset Management could be heading for the courts again, this time to sort out an acrimonious battle with Real Estate Opportunities, says the FT, for whom Aberdeen has been managing money.
REO says Aberdeen is responsible for more than £165m in losses so it is replacing Aberdeen with Invesco Perpetual, but not without "taking appropriate steps to seek recovery".
The loss of business for Aberdeen could place further pressure on the asset management firm, which has already seen £8m of its management fees being withheld by REO - totalling at least £4m of Aberdeen's turnover.
GORDON BROWN is getting a bad name for himself, even before he delivers the Budget, as there is talk he will may increase stamp duty for property leaseholders by up to ten times, according to the Times.
Worst affected could be small businesses and retailers as this would raised an extra £600m for the Treasury.
Whereas the existing system sees stamp duty charged on the average annual rent, payments will be required upfront in the future for each year of the lease.
FORMER ceo at Royal & SunAlliance, Bob Mendelsohn, is in the firing line again, this time from shareholders, says the FT, as he received £2.5m in salary and compensation last year, despite repeatedly missing performance targets.
It's likely that such activities last year will put the last nail in the coffin of any similar pay deal for R&SA's latest chief executive.
AND IFAonline's own parent group, Incisive Media, makes the news in the Daily Telegraph, after Incisive yesterday bought Risk Waters for £35m.
Financial journalist Peter Field bought bond market magazine Risk from Emap in 1998 for £5,000 but has now sold the firm to Tim Weller and his team - the company behind Investment Week.
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