Regulator calls for pension crackdown from government September 19, 2013 Weaknesses in the system mean some savers are not getting value for money when it comes to their pensions, says the Office for Fair Trading (OFT). (Release) The OFT published a market study today and, in agreement with The Pensions Regulator (TPR) has agreed a set of reforms to the £275bn market for defined contribution [...]
Best of the brokers for 19 September 2013 September 18, 2013 ASSOCIATED BRITISH FOODS Morgan Stanley has started covering the food-to-sugar conglomerate with an “overweight” rating and a target of 2,140p. The broker reckons ABF is one of the strongest growth firms in the European staple stocks, driven by Primark’s enormous sales increases. LEGAL & GENERAL Canaccord Genuity keeps its “hold” recommendation and raises its target [...]
Inside Track: Tesco executives ponder a spin-off for Asian business September 11, 2013 IT’S hardly on the scale of Royal Bank of Scotland, but Tesco’s retrenchment from the empire-building of Sir Terry Leahy means it will soon struggle to describe itself using the adjective “global”. Fresh from its exit from Japan, a retreat into a joint venture in China and this week’s announcement of the part-sale, part-closure of [...]
Driving down costs of car insurance August 27, 2013 Annabel Palmer on how customers could cut down their hefty London insurance premiums THE AA recently announced that comprehensive car insurance premiums saw their biggest fall since the motoring organisation’s records began in 1994. The average annual quote declined to £594.86 by the second quarter of this year, a 9.8 per cent drop from July [...]
Medical assessments to set retirement income August 26, 2013 PEOPLE approaching retirement should prepare to have all aspects of their medical history analysed when they purchase an annuity, a top insurance company boss has told City A.M. “You can’t stop the march of science,” said Clive Bannister, chief executive of FTSE 250 life assurance consolidation firm Phoenix Group. “Annuities have typically been priced on [...]
Cobham jettisons pension costs to Goldman arm Rothesay Life August 15, 2013 DEFENCE contractor Cobham yesterday offloaded £280m worth of staff pension costs to Goldman Sachs’ insurance business Rothesay Life. Cobham’s pension plan, which has a £49m blackhole, will swap UK government bonds and cash for an insurance policy from Rothesay to cover the risk of rising pension costs. The deal means 43 per cent of the [...]
City Moves for 31 July 2013 | Who’s switching jobs July 30, 2013 Aviva Investors The asset management business has announced the appointment of Abigail Herron as head of engagement in its global responsible investment team. She joins from Co-operative Asset Management, where she headed its corporate governance function. Baker Tilly Alex Birch has been appointed associate director in the advisory firm’s restructuring and recovery team. Birch has [...]
Institute of Directors takes stand against tighter listing proposals July 22, 2013 THE INSTITUTE of Directors (IoD) yesterday criticised proposals to tighten listing rules for companies with controlling shareholders. The influential group said the idea put forward by the Association of British Insurers for more stringent rules on majority shareholders in London-listed companies would fail to boost governance standards. It follows criticism of London’s listing rules after [...]
Why the French model may have the answer to the NHS’s many challenges July 20, 2013 IT IS often said that the NHS is “the envy of the world”, but this claim is now increasingly difficult to justify. Yesterday, professor Sir Bruce Keogh published his review into 14 NHS hospital trusts with high mortality rates. “Mediocrity is simply not good enough,” he said, with the probe uncovering poor standards of care, [...]
Five holiday insurance mistakes to avoid July 16, 2013 Don’t get caught out by insufficient policies and rising premiums A S WE approach the summer holidays, travel insurance is hitting headlines again. Rising unemployment in southern Europe has led to higher crime rates, with tourists prime targets for petty theft. And the travel association ABTA has found that 24 per cent of holidaymakers now [...]