A powerful body of pension funds is calling on the Treasury to water down some of the radical pro...
A powerful body of pension funds is calling on the Treasury to water down some of the radical proposals contained in the Myners report on institutional investment endorsed by the chancellor, Gordon Brown, in his March Budget, says the Guardian this morning.
The National Association of Pension Funds has written to the Treasury calling for independent academic research to be carried out on fees charged by stock brokers to pension funds - which the Myners report said should be disclosed by pension fund managers.
Brian Davis, chief executive of Nationwide Building Society, has signalled that he may have to reverse the society's strategy of offering low-cost loans for all borrowers after admitting to losing market share in the mortgage war, reports The Times.
The flow of new mortgages has suffered badly since Nationwide cut its standard mortgage rate by 0.6 per cent in February and pledged to treat its new and existing borrowers equally.
Brunswick Group - one of the City's leading financial public relations firms who handles highly sensitive information for more than a third of Britain's top companies - has suffered a serious security lapse, apparently leaving scores of fringe stockbrokers and market speculators with secret details of planned corporate deals.
A dossier of information, part of which has been seen by the Guardian, is circulating in the Square Mile, giving code names for a string of potential multi-billion-pound mergers, acquisitions and flotations, according to the Guardian
British Telecom and AT&T of the US are discussing a merger of their business services divisions with a view to floating the combined operation on the London and New York markets.
The prospectus for BT's £6bn rescue rights issue, which shareholders will start receiving today, says the new company could include Concert and BT Ignite, which provides broadband services to business customers.
Small and medium-sized manufacturing firms have experienced their biggest fall in business confidence since the Asian crisis of early 1999, the Confederation of British Industry will report today.
In its latest survey of the small and medium-sized manufacturing sector (SME), the CBI found output, new orders, profit margins, prices, employment and investment all fell sharply since they were last measured in January, says the Daily Telegraph
Roche will on Monday hold an unscheduled board meeting to discuss restructuring its troubled pharmaceuticals business that will involve the Swiss healthcare company shedding several thousand jobs on both sides of the Atlantic.
Roche's board will also mull strategic options after Novartis, its Basle-based arch-rival, last week bought a fifth of the voting shares in a surprise move that raises the prospect of a merger, says the Financial Times
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Questionnaires sent to firms
Expecting to recover around £200m
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