News

Britain's ageing population and changes to workplace pensions proved lucrative for Resolution during the first half of the year.

Can Daniels steady Lloyds' ship?

CEO's optimistic view of its bad loans have left some analysts confused, writes James Moore

Investors told to take a share of responsibility

Fund managers accused of contributing to the financial crisis by acting like 'absentee landlords' are being encouraged to hold companies to account

Ethical funds are a good way to invest money – in principle

In these tough times, people are inclined to put themselves first – but you can still help the planet in doing so

Questions Of Cash: 'What has happened to my policy worth £50,000?'

Q. My wife had a policy with Friends Provident. But on maturity the proceeds were not paid to her, but seem to have been claimed by an employee of the First Trust Bank, with an employee forging my wife's signature. I have complained to the bank and the Financial Ombudsman Service. FOS ruled in the bank's favour, but only because my wife and I wrongly presented our case. Our only option now seems to be to take a legal action against the bank employee, which is prohibitively expensive. AN, Northern Ireland.

Smith gives Sharks added bite

Sussex post too high a total even for Somerset's power hitters to make up for Lord's defeat

Cowdery in talks with UKFI over Lloyds insurance assets

Clive Cowdery, the insurance entrepreneur who bought Friends Provident last week, has met with Treasury officials who assured him that the offshore structure of his company, the Guernsey-based Resolution, won't hamper his attempts to buy insurance assets up for sale by Lloyds Banking Group.

Market Report: Broker helps Cookson to engineer gains

Investors bought into Cookson yesterday and the engineering group rose by almost 4 per cent amid hopes of some short-term strength in its share price.

What the great fall will mean for life insurer's policyholders

As Friends Provident is sold to an offshore investment company, Kate Hughes examines the impact on the savings it manages

Market Report: Credit rating concerns weigh upon WPP

The world's second-largest communications services group, WPP, eased back by 3.1 per cent, or 14.5p, to 460.7p last night after UBS highlighted potential for near-term weakness in the company's stock, which has been performing strongly of late.

James Moore: Take a look at tax havens closer to home

Outlook: And so Liechtenstein has surrendered. Following on from the tax information exchange deal with the US comes a similar one with the UK. There will be an amnesty for around 5,000 account holders who could have stashed up to £3bn in the tiny principality, together with a tacit assurance that they won't be prosecuted if they agree to assume the position and pay up. They'd be well advised to do so because it is more than people in other tax havens may be offered.

Cable calls for institutional shareholders to face enquiry

The Liberal Democrat Treasury spokesman, Vince Cable, called yesterday for Sir David Walker's inquiry into banking governance to be extended in the wake of Friends Provident's capitulation to Clive Cowdery's Guernsey-based investment company Resolution under pressure from its institutional shareholders.

Profile: Clive Cowdery

Having pocketed a fortune of close to £150m after the sale of the first incarnation of Resolution to Pearl for £5bn, Clive Cowdery is back in the hunt for a second.

Friends Provident agrees £1.86bn takeover

Life insurer Friends Provident today recommended a £1.86 billion takeover offer by investment firm Resolution.

Resolution close to victory with new Friends offer

The tycoon Clive Cowdery was on the brink of winning control of Friends Provident last night as the 177-year-old life insurance companyre-opened talks over a renewed takeover proposal which valued the company at around £1.86bn.

James Moore: The day the cricket sponsors were bowled middle stump

Outlook: Sir David Walker wants institutional shareholders to act like responsible owners of the assets in which they invest on behalf of their clients
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