Record deal breaks ties between Citi and EMI


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Record deal breaks ties between Citi and EMI

Record deal breaks ties between Citi and EMI
Citi has all but ended its troubled relationship with EMI after offloading the music group’s pension scheme in a £1.5 billion deal. This tops a deal by Legal & General in 2011 to insure the £1.1 billion scheme for Turner & Newell, the defunct asbestos manufacturer.
The Times, p. 35
Also appeared in : Financial Times Companies and Markets, p.14, The Times, p.33

There’s room in the pensions Nest for Britain’s higher earners
The government’s flagship workplace pension scheme has received a boost when restrictions were lifted that had made it tougher to target middle and high-income workers. Nest, which began signing people up late last year, has 250,000 members and £12 million of assets. It manages schemes for the BBC, McDonald’s and Travelodge.
The Times, p. 35

Judges make £2bn pension claims after court ruling
More than 900 judges have lodged claims against the Government after the courts awarded them a multi-million-pound pensions windfall.
The Times, p. 12

Workers face longer wait for state pension
Danny Alexander, the Chief Secretary to the Treasury, has warned that the basic state pension age may have to rise faster and further than planned.
The Daily Telegraph, p. 1

Leeds launches ‘zero interest’ mortgage deal
Leeds building society has announced a new mortgage that has a “zero” interest rate for the first six months.
The Guardian, p. 21

New York Stock Exchange owner to be handed control of Libor
The Treasury is handing over control of Libor to New York Stock Exchange owner NYSE Euronext.
The Daily Telegraph Business, p. 5
Also appeared in : The Times, p.34, The Times, p.37, The Times, p.38, Daily Express, p.50, The Times, p.33, The Guardian, p.18, Metro London, p.40, The Independent, p.51, The Independent, p.53, International Herald Tribune, p.13, Financial Times Companies and Markets, p.15, Financial Times, p.1, Independent i, p.40, City AM London, p.2

Co-operative Bank rescue deal ‘could result in nationalisation’
The Co-operative Bank’s £1.5bn rescue package has been criticised by bondholders, who have written to Andrew Bailey, the chief executive of the Prudential Regulation Authority.
The Guardian, p. 19
Also appeared in : The Times, p.39, The Independent, p.53, The Daily Telegraph Business, p.4, Independent i, p.42, Independent i, p.41, City AM London, p.3

Bank of Ireland agrees partial sell-off
Bank of Ireland has been told to sell its business and corporate lending business in Britain as part of a compromise deal with Brussels.
The Times, p. 39
Also appeared in : Independent i, p.41, International Herald Tribune, p.15

Lloyds puts Tchenguiz court battle on hold
Vincent Tchenguiz is celebrating after Lloyds abandoned its attempt to put his residential freehold empire into administration.
The Daily Telegraph Business, p. 5

NYSE’s Libor victory shows who washes cleanest wins
Lombard comment on the NYSE Euronext exchange managing the London interbank offered rates.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 14

Barclaycard to stop tracking Bank Rate
Barclaycard has written to cardholders warning them that their rate will no longer track the Bank Rate.
The Daily Telegraph Business, p. 5

The above articles appeared on 10/07/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.