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Marks and Spencer Pre-Tax Profit Thumped by Restructuring Costs, Impairments

Marks and Spencer’s pre-tax profits fell by 64 per cent in the year to April 1, dragged down by restructuring costs, property impairments and lower clothing sales as the high street fixture turned away from a packed calendar of promotional events, the ...

Daily Headline - global.abi.org - 05/24/2017 - 22:41 - 0 comments

UK Supreme Court Awards £5 Billion to Lehman Europe Claimants

Claimants against Lehman Brothers’ main European arm will receive at least £5bn in interest payments on top of previously awarded claims after the UK’s most senior court ruled they should receive the statutory interest that has built up over the last eig ...

Daily Headline - global.abi.org - 05/17/2017 - 23:01 - 0 comments

Chappell Loses Bid to Keep His Company Afloat

Dominic Chappell, a former bankrupt who bought BHS for £1 and received millions of pounds while presiding over the retailer’s collapse, has lost a bid to keep his company afloat after a judge questioned the value of its recent investment in Portuguese pr ...

Daily Headline - global.abi.org - 05/16/2017 - 21:58 - 0 comments

Tata Steel Agrees Settlement ‘In Principle’ for UK Pensions

Tata Steel has agreed a settlement “in principle” to the long-running pensions saga at its UK business, a deal that could remove the last hurdle to a merger of the group’s European steelmaking operations with those of German rival ThyssenKrupp, the Fin ...

Daily Headline - global.abi.org - 05/16/2017 - 21:59 - 0 comments

The City of London After Brexit Isn't Just About Jobs

Britain's new relationship with the European Union is still a long way from being settled, but Brexit has started a process that is bound to hurt the City of London, a Bloomberg View reported. Earlier this month, the European Commission launched a r ...

Daily Headline - global.abi.org - 05/15/2017 - 22:43 - 0 comments

Co-op Bank Close to Bolstering Balance Sheet

The Co-operative Bank is poised to reveal in the coming days that it is a step closer to bolstering its balance sheet to meet the Bank of England’s capital requirements ahead of a looming deadline, the Financial Times reported. The lossmaking bank is ...

Daily Headline - global.abi.org - 05/14/2017 - 22:35 - 0 comments

BT Tries to Reset Fortunes with Restructuring Plan

BT has attempted to draw a line under its worst performance since the turn of decade with a restructuring of its scandal-hit international arm, the loss of 4,000 jobs and a warning over the size of its dividend next year, the Financial Times reported ...

Daily Headline - global.abi.org - 05/11/2017 - 22:05 - 0 comments

TPR’s new guidance on setting and monitoring investment strategies for defined benefits

The Pensions Regulator (TPR) published new investment guidance, “Investment guidance for trustees and advisers running schemes that offer defined benefits”, on March 30, 2017. It is aimed at trustees who run schemes which offer defined benefits, thei ...

Resource Article - twallace@abiwor... - 05/11/2017 - 09:39 - 0 comments - 0 attachments

Unlocking the blockchain

Digitizing the insurance value chain through the use of blockchain and other distributed ledger technologies (DLT) has the potential to transform the insurance market, from the way insurance products are distributed, underwritten and administered, to the ...

Resource Article - twallace@abiwor... - 05/11/2017 - 09:35 - 0 comments - 0 attachments

Former BHS Owner Retail Acquisitions Nears Collapse

Retail Acquisitions, the company owned by former bankrupt Dominic Chappell and through which he made his ill-fated 2015 purchase of BHS, is to be put into liquidation, more than a year after the department store chain fell into administration, the Fina ...

Daily Headline - global.abi.org - 05/04/2017 - 21:49 - 0 comments

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