Standard Life dominates - papers 8 October

Without any hope of meeting the required 6% growth on its £32bn with-profits fund and not able to report capital surpluses – the two core targets required to maintain promises of guarantees on endowments payments – the company had to do something, the paper says. The Scotsman says the moves reflect the changed culture that have come with new head of life and pensions Trevor Matthews, whom it describes as a “straight-talking Australian”. ”Yesterday’s decisions may have been painful for some, but they all look like sensible moves from Matthews’ point of view. He is correcting mistakes m...