Windfalls all round for carpet baggers
Article Abstract:
Demutualization windfalls have benefited many investors in the United Kingdom, and financial services companies have seen stock price rises. Rumors have become common and they cannot be ignored, though not all prove to be correct. Consolidation is continuing in the industry, though the pace may be slowing. Some companies are also diversifying, which could lead to demergers. Financial services companies have benefited from favorable market conditions but weaker companies could be hit in a downturn.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Savings rates: income threat
Article Abstract:
Rates of interest paid by UK building societies have been affected by a plentiful supply of funds, while lending opportunities have been limited. New lending has dropped in 1995 and mortgage rates have been reduced to attract borrowers. Inflation has fallen to 3.1% and interest rates just provide savers with compensation for inflation, though savers paying higher tax rates are seeing their capital eroded after tax payments are made from interest income.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Sting in the bonus tail
Article Abstract:
Some building societies involved in mergers have been paying lower interest rates during the time taken to complete the deals. Cheltenham & Gloucester has not raised rates since October 1994 believing that customers would remain loyal when they knew they would be receiving bonuses following the Lloyds takeover. A similar pattern is emerging with the Halifax/Leeds and Abbey National/National & Provincial mergers.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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