Why life firms will never deliver building society-style bonanzas
Article Abstract:
Members of UK mutual insurance concerns will probably never receive bonuses as large as those which are being enjoyed by members of building societies which are abandoning their mutual status. This is because there are complex regulations and accounting and actuarial procedures involved in the de-mutualisation of a mutual insurance concern. In certain cases, any money received by members of mutual insurance concerns will in fact only be the early payment of bonuses which they would have received in the future.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1997
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Investigators look at London traders' role in copper scam
Article Abstract:
The investigation into losses of 1.2 billion pounds sterling made by Sumitomo Corp on copper trading will include work by officials from the Securities and Futures Authority (SFA) who were involved with investigating the copper trading activities of Winchester Commodities. Particular attention will be given to the possible use by trader Yasuo Hamanaka of Winchester Commodities and other London Metal Exchange brokers to undertake his trades.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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A wall of silence on Sumitomo
Article Abstract:
Investigations currently taking place in Japan, the UK and the US will have to deal with many unanswered questions regarding the copper trading activities of Sumitomo. Some observers believe that the company's losses could more than double to $4 billion as copper prices continue to fall. However, it is still in a reasonably strong position at present, and has been unwilling to release further details.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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