City in 275 million pounds sterling computer fiasco
Article Abstract:
The London Stock Exchange gave up its computerised share dealing system, Taurus, resulting in the loss of 1,000 jobs and losses of 275 million pounds sterling. Chief executive Peter Rawlins resigned. The failure of Taurus was caused by compromises between different interests. Some parts of the system did not function correctly. The volume of shares traded caused problems. Stewart Senior, partner in Coopers & Lybrand, found that the system would not be ready till 1995/6 and that its cost would probably double.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
BZW lands a pensions plum
Article Abstract:
BZW Investment Management will take over the management of around half of ICI's 4.6 billion pounds sterling pension fund. It will manage the fund in UK investments on an 'index-tracking' basis, while a balanced portfolio of around 2.6 billion pounds sterling will be handled by Schroder Investment Management and PDFM. ICI's move is part of a general trend towards moving pension fund work from internal teams to outside firms.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
Your future is at stakeholder
Article Abstract:
The UK government's new stakeholder pension scheme is designed to allow people on low incomes to save for retirement. The scheme offers tax benefits to encourage participation by people usually excluded from pension arrangements, such as housewives.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: The 16 million pounds sterling woman. Bed and board Howard's way. A life less ordinary
- Abstracts: Tune in, turn on and listen to the world on your computer. Inside Serbia's rock'n'roll revolution. Log on, tune in, listen up
- Abstracts: Sorry, lady, you just ain't the part. National rocks the boat over plans to bar musicals from hall of fame. RSC plans theatre to change the face of Stratford
- Abstracts: Roadshow tries to woo policyholders. Lean times could put pension plans into retirement. A year best forgotten for ISA sales
- Abstracts: Why Jemima Khan can't win. Bollywood confidential. Jemima Khan wades in to where UN is banned