The FT leads with a suggestion that the Bank of England, the UK central bank, is on Thursday expected...
The Telegraph says Mike Levett, the chairman and chief executive of life insurer Old Mutual, withdrew pension funds worth more than £7m in February, it emerged yesterday. The annual report discloses that he "withdrew all sums accrued and...no longer has any remaining pension benefits from the group".
The FT writes that Prudential's planned takeover of US insurer American General, crucial to the UK life assurer's global ambitions, appears to have suffered a knockout blow from a higher offer from AIG, the US financial services giant.
Alan Greenspan, chairman of the US Federal Reserve, warned on Wednesday, according to the FT, that the continued stagnation of the Japanese economy had significantly dampened global economic growth and was hurting the US economy.
On the same subject, the Telegraph noted the yen yesterday fell to a 17-month low against the euro after a key economic package aimed at bolstering the country's struggling economy was delayed for 48 hours.
The Times writes that financial institutions expect a quiet end to the financial year, with few investors expected to dash to put their savings into a tax-free ISA.The current financial year ends at midnight, yet the demand for ISAs has fallen significantly following the recent bloodletting on the world's stock markets.
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