Recent Posts

  • Spice set to give thumbs-up to £247m offer from Cinven by end of September

    first_img UTILITIES services company Spice is expected to recommend a £247m offer from buyout house Cinven by the end of the month after announcing advanced talks yesterday.Cinven has locked Spice into exclusive discussions with a hefty break fee, meaning the prospect of an expensive bidding war with a mystery third party has receded. Spice has agreed not to seek out any rival offers.Cinven’s dealmakers and its advisers are in the final stage of conducting due diligence on the Yorkshire-based installer of water meters, which counts British Airways and Starbucks among its customers. Although Cinven is keen to spend more time scrutinising Spice’s contracts, sources said it expects to make a concrete offer before the exclusivity period runs out on 27 September.Chief executive Martin Towers and finance director Oliver Lightowlers are tipped to stay at the helm if a deal goes through. Towers replaced major shareholder Simon Rigby as boss following a profit warning in December, and proceeded to offload Spice’s loss-making gas and telecoms businesses.Shares in Spice closed up 5.9 per cent at 67p as investors placed their bets on a recommendation of the 70p-per-share offer, which is Cinven’s third punt after two earlier attempts were knocked back by the Spice board.CHRISTOPHER KEMBALLHAWKPOINT PARTNERSBOUTIQUE investment banking outfit Hawkpoint Partners has been at Spice’s side as it has played hard-to-get with Cinven.Vice chairman Christopher Kemball and managing director Chris Robinson are Hawkpoint’s lead advisers on the deal, helped by Serge Rissi. Kemball’s CV includes stints at ING Barings, where he was global head of emerging markets corporate finance, Dillon Read, where he was managing director, and Kleinwort Benson. Robinson joined Hawkpoint from Lloyds Merchant Bank and previously worked at Deloitte Ross Tomatsu.On the opposing side for Cinven are Charlie Batten of Investec and Stephen Georgiadis of Altium Capital. Batten joined Investec from Dresdner Kleinwort after the German bank decided to pull out of the UK?corporate arena. Georgiadis has a wealth of experience in cross-border merger & acquisition projects and debt financings, having begun his career at Hill Samuel & Co in 1983 before moving to Apax Partners in 1985. He started at Altium in 1990.The wrangle between the two companies is reaching a conclusion after months of manoeuvring. Spice dismissed indicative offers of 56p per share and between 62p and 65p per share before relenting at 70p. whatsapp KCS-content Tags: NULL whatsapp Show Comments ▼ Thursday 2 September 2010 7:52 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoinvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoHero WarsBig Boss of internet games!Hero WarsUndoWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld LifestyleUndo Share Spice set to give thumbs-up to £247m offer from Cinven by end of September last_img read more

  • Julius Baer to double Asian assets

    first_img Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaUndo Read This NextNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’Sportsnaut’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family Proof whatsapp Julius Baer to double Asian assets whatsapp Julius Baer, Switzerland’s third-largest private bank, plans to double its Asian assets to 20-25 per cent of its total in five years as it recruits new staff and opens more offices in the fast-growing region.Julius Baer, which had 166bn Swiss francs (£100.9bn) in assets under management as of the end of June, derives the bulk of its business in Europe, with Asian clients accounting for just over 10 per cent of total assets.But the bank has identified Asia as its “second home market” and its expansion plans include upgrading its Northeast Asia headquarters in Hong Kong to a booking centre before year-end and opening a representative office in Shanghai next year.Julius Baer also plans to set up a trust office in Singapore to advise clients in areas such as estate planning, chief executive officer for Asia and the Middle East Thomas Meier said yesterday.“We are trying to move into a (Singapore) office space that can house 700 people,” he said when asked about new hirings. The bank employs over 400 people in Asia, the majority of them in Singapore.Global private banks are increasingly turning their eyes to Asia, where – with the exclusion of Japan – wealth is expected to grow at nearly twice the global rate, according to the Boston Consulting Group.Private banks in Singapore and Hong Kong, the region’s most prominent financial centres, already manage $700bn. While Switzerland remains the world’s biggest wealth management centre with $2 trillion of offshore managed wealth, the centre came under pressure recently from an erosion of traditional bank secrecy and a bitter US tax fraud investigation into Swiss bank giant UBS. Tags: NULLcenter_img Share Show Comments ▼ KCS-content Monday 6 September 2010 8:17 pmlast_img read more

  • PZ CUSSONS BUYS ST TROPEZ FOR £63m

    first_img whatsapp Monday 27 September 2010 7:56 pm PZ CUSSONS BUYS ST TROPEZ FOR £63m Tags: NULL Self-tanning products company St Tropez, whose fake tan spray is used by celebrities such as Victoria Beckham (left), has been sold again. Its UK owner LDC, the private-equity arm of Lloyds Banking Group, sold the firm for £62.5m to PZ Cussons, the maker of Imperial Leather soap and Carex handwash, it announced yesterday. Show Comments ▼center_img KCS-content Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comlast_img read more

  • Credit Suisse profit tumbles

    first_img Credit Suisse profit tumbles Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBrake For ItThe Most Worthless Cars Ever MadeBrake For ItUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndo Tags: NULL Credit Suisse’s third-quarter net profit tumbled 74 per cent to miss forecasts, as sluggish equities trading halved investment banking earnings from the previous quarter.Switzerland’s No.2 bank by market value behind UBS said net profit fell to 609m Swiss francs (£398m).Investment banking pretax income halved to 395m francs from an already subdued 784m the previous quarter, as chief executive Brady Dougan’s bold strategy to hire investment bankers aggressively in the second quarter failed to pay off immediately with markets flattening.CS was the first big European bank to report third-quarter numbers after US rivals such as Goldman Sachs posted higher than expected profit this week despite low trading volumes in the US equity market, though Morgan Stanley, which has derisked its trading operations since the credit crisis, surprised with a disappointing loss. Earnings at CS’s bedrock private bank outstripped the normally more lucrative investment banking segment for a second quarter running.“We believe the prospects for growth remain very attractive and our private bank is poised to capitalise as markets improve,” Dougan said.The private banking segment attracted 12.6bn francs in net new client assets, against 13.1bn a year earlier. whatsapp whatsapp Share John Dunne Thursday 21 October 2010 2:54 am Show Comments ▼ Read This NextThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead Morelast_img read more

  • RBS and its NatWest division is fined £2.8m for poor handling of complaints

    first_imgTuesday 11 January 2011 7:28 pm Show Comments ▼ Share whatsapp BRITAIN’S financial watchdog fined Royal Bank of Scotland (RBS) and its NatWest division £2.8m yesterday for poor customer complaints handling. The Financial Services Authority (FSA) said its investigation found an unacceptably high risk that customers may not have been treated fairly due to multiple failings in 2009 in the banks’ approach to routine complaint handling.Margaret Cole, the FSA’s managing director of enforcement, said the poor performance at the majority state-owned bank came to light during a review of major lenders.“We expect firms to treat customers fairly and that consumers can be confident that their complaints will be dealt with properly,” Cole said. The watchdog published a consultation paper last September on improvements to complaint handling procedures and said RBS and NatWest agreed to make significant changes.RBS and NatWest also agreed to settle at an early stage, so qualified for a 30 per cent reduction in penalty.“We recognise the importance of complaint handling for our customers and are focused on addressing the root causes of complaints,” said Brian Hartzer, chief executive of RBS Group’s UK retail operations.Consumer lobby Which? said the case was evidence of banks failing customers and RBS and NatWest should compensate customers that have lost out. Read This Next’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe WrapHow HGTV’s ‘Renovation Island’ Changed Bryan and Sarah Baeumler’sThe Wrap’Bridgerton’ Stars Phoebe Dynevor and Nicola Coughlan on Daphne andThe WrapBest Wine Gifts & Wine Accessories at Every PriceGayot’Hitman’s Bodyguard’s Wife’ Earns $17 Million 5-Day Opening as Box OfficeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The WrapEverything We Know, or Think We Know, About the Time-Keepers on ‘Loki’The Wrap’The Crown’: What Went Into Finding Princess Diana and Margaret ThatcherThe Wrap Tags: NULL KCS-content RBS and its NatWest division is fined £2.8m for poor handling of complaints whatsapplast_img read more

  • AG BARR SALES STILL FIZZING

    first_img Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm KCS-content More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Soft drinks group AG Barr forecast like-for-like sales growth of around ten per cent for the full-year, helped by strong demand for its Irn-Bru and Rubicon drinks. The company, led by chief executive Roger White, said: “Across the financial year all of our core brands have performed strongly.” AG BARR SALES STILL FIZZING center_img whatsapp Share Show Comments ▼ whatsapp Wednesday 26 January 2011 8:56 pmlast_img read more

  • Agius warns EU rules could hurt recovery

    first_img MARCUS Agius, the chairman of the British Bankers’ Association and Barclays, has warned the government that regulators could hinder the recovery by adopting new banking rules more quickly than other countries. In a letter to chancellor George Osborne, Agius argued the UK  risks tipping the playing field of global commerce in favour of rival financial centres. He said: “This is most notable when the UK applies additional requirements to the agreed standards; when it implements them earlier than others; and when it does not use the flexibility the standards permit or not in a manner reflected elsewhere.”Agius added: “These are not just issues for banks; they have a direct impact on the provision and pricing of finance in the economy.”The letter was accompanied by two reports from law firm Freshfields Bruckhaus Deringer which show the UK is implementing G20 agreements on banking reform more quickly than other countries. The letter comes as several top UK banks are said to have raised concerns with the Financial Services Authority (FSA) over the payment of retention bonuses, amid concerns that international rivals could poach key staff.Barclays, HSBC and Standard Chartered are among the banks said to have concerns over the rules, which prevent them from matching guaranteed bonuses made by competitors, Sky News reported.Published in December, the retention bonus rules acknowledged concerns posed by banks at the time.However, the FSA said banks which wish to offer retention awards must now make a “strong case” to it in order to do so, with the ultimate decision being decided on an individual basis. An FSA spokesperson added: “We always consult with industry and stakeholders and introduce changes at an appropriate time.” Tags: NULL Wednesday 26 January 2011 9:08 pm whatsapp Agius warns EU rules could hurt recovery KCS-content Show Comments ▼ whatsapp Share More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comlast_img read more

  • Utilities performing well

    first_img Utilities performing well KCS-content Tuesday 1 February 2011 8:53 pm Share whatsapp More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org whatsappcenter_img Northumbrian Water Group said trading in the second half had been in line with estimates, putting it on track for a “sound” performance for the year to March 2011. Scottish & Southern Energy meanwhile said that its household customers used more gas in the last 10 months, and that it expected profits to be in line with analyst forecasts. Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBe20 Stunning Female AthletesBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm Tags: NULLlast_img read more

  • GKN to pay dividend after profit surge

    first_img whatsapp More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Show Comments ▼ Tags: NULL Airplane parts maker swung to a full-year profit, helped by a strong performance at its automotive unit, and said the outlook was positive with civil aircraft production set to grow in 2011.GKN, which produces airframes, engine structures and components for plane makers Airbus and Boeing reported a 2010 pre-tax profit of £363m, up from £87m in 2009, on revenues 22 per cent higher at £5.4bn.“The results reflect the strong recovery in driveline, powder metallurgy and land systems, a good performance in aerospace and the on-going benefits from restructuring,” the company said in a statement.“The aerospace market has remained subdued although civil aerospace is now moving into a strong growth phase with volume increases on existing platforms and new aircraft moving into production.”The company paid a final dividend of 3.5 pence per share, making a total dividend for the year of five pence per share, having not paid a dividend last year. GKN said it made the decision to pay a dividend in response to the improving trading environment and taking into account future prospects. Share Tuesday 1 March 2011 3:24 amcenter_img whatsapp John Dunne GKN to pay dividend after profit surge by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCute last_img read more

  • Insurer promises an Equitable payout

    first_img Insurer promises an Equitable payout Share More From Our Partners Killer drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Monday 28 March 2011 8:47 pm EQUITABLE Life, the British insurer that almost collapsed in 2000, has promised an extra 12.5 per cent payout to customers cashing in their policies.The company, which has faced a 10-year battle with customers demanding the minimum payments it had guaranteed, said it had rebuilt its capital.Policyholders who cash in their policies will from 1 April receive the extra payment, with around 30,000 customers expected to share £40m within a year.“Getting millions of pounds into policyholders’ hands is what matters after a decade of distress,” Equitable chairman Ian Brimecome said in a statement.The extra contribution, announced yesterday, comes on top of a £1.5m government payout to help compensate Equitable customers for the regulator’s failure to prevent the crisis.Equitable, Britain’s oldest insurer with 1.5m customers at its peak, came close to collapse after it was forced to honour unsustainable guarantees of minimum returns offered to some customers.The company, many of whose customers were saving for their retirement, was eventually forced to close its doors to new business and reduce the value of some policyholders’ savings.Equitable said the government compensation, to be paid from mid-2011, is equivalent to about one third of total losses suffered.But Liz Kwantes, of the Equitable Life Members Support Group, said she saw it as another way for Equitable to run the society down and encourage as many policyholders as possible to transfer out. Tags: NULL whatsapp Show Comments ▼ KCS-content whatsapplast_img read more