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Royal Bank of Scotland made bumper profits of 3.38bn during the first half of 2004 and has bought US banking business Lynk for $525m (288m).
With pre-tax profits up 17% to 3.38bn, the bank said it was confident to sustain growth following past year’s string of high-profile takeovers.
But RBS stayed on the sidelines […]
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UK insurance firm Royal & Sun Alliance (RSA) has said its business is now in better shape, despite reporting a 14% fall in half-year operating profits.
The firm said operating profits fell to 310m ($550m) from 351m a year ago, partly due to lower investment returns.
But RSA said it […]
The world’s largest finance company, Citigroup, has confirmed that it is to create 375 jobs in Belfast over the next five years.
The US-owned company is establishing a “technology centre of excellence”.
The development is being backed by Invest NI which is contributing more than 7m towards the .
Invest NI said the project […]
Friends Provident has been fined 675,000 for mis-handling mortgage endowment .
The Financial Services Authority said the company’s treatment of complaints had, in the past, been “biased” against customers.
The insurer is now reviewing all complaints it rejected between January 2000 and 10 February 2003.
Millions of people in the 1980s took out - a […]
The value of UK financial services exports such as insurance broking and investment banking hit a record $19bn in 2004, a study has shown.
The global stock market recovery lifted sales in the City of London and exports grew by 9%, research firm International Financial Services London said.
Insurance was the largest foreign earner, with exports […]
Worries over the strength of insurer Standard Life have hit the firm’s market share.
The firm reported flat first-half sales, and its share of the UK market fell to 10.2% in the first quarter of this year from 11.1% previously.
The negative publicity earlier this year surrounding its talks with the UK regulator over its financial […]
Aston Villa have rejected a reported 30m bid for the club from former Manchester City defender Ray Ranson.
The club’s plc a group including Ranson had made an approach to take over from Doug Ellis but that the offer had been turned down.
“Aston Villa has received a proposal to acquire the entire issued share capital […]
US Treasury Secretary John Snow has asked India to consider opening its financial, insurance and pension fund sector to foreign .
Mr Snow, who is on a five-day visit to India, said opening of these sectors would provide funds to improve roads, railways, ports and power plants.
He met Indian business leaders and is scheduled to meet […]
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Foreign investment in Japan in 2004/05 the country’s investment overseas for the first time in half a century, official figures have shown.
According to the Finance Ministry, foreign firms sank more than 4 trillion yen ($36bn; 20bn) into Japan in the 12 months to March.
The figure, which had […]
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Business directories firm Yell has won promotion to the FTSE 100 index of leading UK companies.
Index provider FTSE confirmed on Wednesday that Yell would replace water firm Kelda in the UK’s premier share index on 22 September.
But British Airways has missed out on promotion after seeing its share price fall back in recent […]