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Legal & General plans a massive boost to its investment in UK infrastructure over the next 10 years, the Sunday Telegraph reported. The insurer wants to increase its funding of industries such as transport, building and energy from £3bn to £15bn over the period. Chief Executive Nigel Wilson said ret
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FRANKFURT, Aug 3 (Reuters) - Germany could quit talks on new risk rules for Europe's insurance industry if regulators try to impose a 'one size fits all' deadline for insurers to adapt to them, a senior official at financial watchdog Bafin said. "If someone forces us to stick with an inflex
Read moreDecent gains in the financial sector boosted the FTSE 100 on Monday as markets welcomed in-line growth figures from China and record highs on Wall Street. The FTSE 100 finished 41 points higher at 6,586 today; the last time it closed higher was on May 30th when it reached 6,657. While the index cl
Read moreNomura has upgraded its rating for insurance and financial services group Prudential by two notches from 'reduce' to 'buy', labelling it as its favoured choice in the UK life sector. In a research report on the wider sector, the broker said that Aviva's dividend earlier in the year has brought 'cas
Read moreAshmore Group: Morgan Stanley cuts target price from 444p to 420p and leaves its equal-weight rating unchanged. JP Morgan ups target price from 339p to 377p maintaining a neutral rating. AstraZeneca: Jefferies reduces target price from 3560p to 3400p, while keeping its hold recommendation. Aviva:
Read moreBy Sarah Mortimer LONDON, July 9 (Reuters) - Citigroup has shifted responsibility for paying the pensions of 20,000 past and present staff of EMI Group to Pension Insurance Corporation in a landmark deal relieving the bank of up to 1.5 billion pounds ($2.2 billion) of liabilities. The
Read moreBy Chris Vellacott LONDON, July 9 (Reuters) - Regulators placing more onerous capital requirements on insurers are stifling investment that would jump-start economic recovery, frustrating government policy, a UK industry association said. In a report published on Tuesday to herald the
Read moreLegal & General (L&G) confirmed on Monday three of its top executives would receive a pay rise as they take on new responsibilities. The company's newly appointed Chief Financial Officer, Mark Gregory, will enjoy a greater base salary than before as the former Chief Executive of the firm's Savings
Read moreGains in the financial sector were offsetting falls in the mining sector on Wednesday as bargain hunters stepped in following recent falls. Aberdeen Asset Management, Schroders, Resolution and Prudential, four stocks that have been hit hard by market volatility over the last month, were among the to
Read moreStrong US data out yesterday, improving consumer confidence in Germany and measures by the Chinese central bank to ease a credit squeeze, all combined to give markets a boost on Wednesday with London's FTSE 100 jumping one per cent by midday. Nevertheless, mining stocks were under pressure in morni
Read moreUK stocks opened with moderate gains on Wednesday morning as markets continued to claw back from their recent sell-off, with data from Germany and central-bank action in China providing some support early on. While Germany continues to trudge through the Eurozone recession, consumer confidence is
Read moreBy Chris Vellacott LONDON, June 26 (Reuters) - British insurer Legal & General Group Plc has moved to boost its retirement business with the 151 million pounds ($232.6 million) acquisition of a firm which manages the annuity funds of thousands of pensioners. L&G said on Wednesday it h
Read moreThe FTSE 100 is expected to open in positive territory for a second straight day as markets continue to rebound following the heavy falls seen in recent weeks. Selling had accelerated last week after the Federal Reserve confirmed its intention to 'taper' quantitative easing if economic data continu
Read moreInsurance, savings and investment group Legal & General (L&G) is to purchase UK annuity buy-out firm Lucida for 151m pounds after identifying retirement solutions as one of its 'five key themes for growth'. Lucida, founded in 2006, closed to new business in November 2012 and is currently responsib
Read moreJune 17 (Reuters) - The following financial services industry appointments were announced on Monday. To inform us of other job changes, email to moves@thomsonreuters.com. UBS AG The Swiss bank appointed Junya Nishiwaki as managing director of UBS Securities Japan Co Ltd. Nishiwaki wil
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