As expected, all of the national newspapers have produced reams of stories and case studies on the i...
As expected, all of the national newspapers have produced reams of stories and case studies on the impact of Gordon's Brown Budget, delivered yesterday.
The Times has gone all out on the coverage and leads by stating the changes amount to a tax increase of 3p in the pound or a tax hike of £8.5bn, but all newspapers have detailed analysis and breakdown of how every class and skill of people will be affected.
The FT reports Prudential, the UK's second-largest life assurer, is talking to banks in the UK about possible bancassurance links as it reported strong first quarter sales, lifted by a solid performance in the UK.
Jonathan Bloomer, chief executive, said: "We already have some distribution [of our products] through Bradford & Bingley.. but we are talking to a number of banks." Prudential is the only UK insurer left which has not signed a major deal to sell its products through a UK bank.
Another top fund manager has quit one of Britain's biggest asset management companies after a disagreement about a restructuring and future strategy, says the Daily Telegraph.
Donald Tosh, head of corporate research at Morley Fund Management, has left "by mutual agreement" after a dispute about changes at the top of its equities investment unit.
Rated best individual fund manager in Reuters' survey of larger companies for the past three years, Tosh is the latest of a clutch of top fund managers to quit in recent weeks.
Last week, Will Hay, head of fixed income at Standard Life Investments, took "early retirement" at the age of 52 after disagreeing with his employer's plans to move him aside as part of an attempt to "internationalise" the company.
And Equitable Life has claimed it could have been sold for £2.9 billion in September 1998 if its former auditor Ernst & Young had assessed the true extent of its guaranteed annuity rate (GAR) liabilities, continues the Telegraph.
Ernst & Young said it was confident Equitable Life had no basis for its claims.
But Equitable claims that if Ernst & Young had advised its directors of the need for extra provision for the liabilities, it "would have been in a position in which it was able to achieve a managed sale of the society when it still had a substantial value to third parties".
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First mentioned in Cridland Report
Second acquisition of 2019