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Found 12 results

  1. I have an ex Friends Life with profits investment bond now under the ownership of Aviva. This was transferred to me by my mother. Over the past three years I have made a number of successful partial withdrawals on the policy without issue. This all changed when in early September of this year, I submitted another partial encashment for £3000. After not receiving the money within 10 days I contacted Aviva and was told that due to a technical issue sufficient units could not be cancelled to action a payout. Therefore, the process was delayed. To exacerbate, the issue, I had a buil
  2. Telephone and broadband provider Talktalk saw profits more than halve following a hack attack on its systems last October. Profits fell to £14m compared with £32m a year earlier. That fall is partly due to the costs of last year's serious cyber attack, which cost the company £42m. TalkTalk confirmed that 95,000 customers had left the ISP in direct response to the cyber attack. http://www.bbc.co.uk/news/business-36273449 This is a huge wake-up call for every company that stores customer details. If they don't take security seriously, it will cost them dearly.
  3. Hi all. I'm new here but I'm hoping that I can get a little information as it seems a bit of a grey area. I recently had my benefit stopped for housing and council tax benefit as after being requested for my company accounts for last year I did so and have been told that because the profits are above £16,000 (the threshold), I am not entitled to any benefit. Is this right? I ask because this money isn't mine, it's the company of which I am a director of. Hoping for some facts please as I'm still building my business hence the profit that was retained in there. Many thanks in adv
  4. http://www.dailymail.co.uk/wires/pa/article-2870900/Councils-raking-parking-profits.html
  5. Royal Bank of Scotland has reported its best quarterly result in more than a year with a pre-tax profit of £826m and said it expects the goverment to be able to start selling its stake it the lender by the middle of next year or even earlier. The profit for the first three months of the year compares to a £1.5bn loss in the same period in 2012 and a £2.2bn loss in the final quarter of last year, largely as a result of a fall in impairments in losses from RBS's "bad bank". Stephen Hester, chief executive of RBS, said the results showed work turning around the performance of the taxpayer-
  6. Lloyd's of London posted a pre-tax profit of £2.77bn last year after claims fell on account of fewer natural disasters. The return to the black follows the "costliest year on record" for natural catastrophes in 2011, which led to Lloyds posting a loss of £516m for that year, the insurer said in its annual results. With earthquakes in Japan, floods in Thailand and Australia and Hurricane Irene hitting the US, 2011 was the second most expensive on record for the insurance sector. However, 2012 proved easier overall on the insurance industry than 2011. Lloyd’s paid £10.1bn in claims i
  7. The major UK banks saw a 45% rise in core profits in 2012, but that hike was wiped out by a mix of regulation and their own mistakes, a KPMG report says. Its performance report looks at Barclays, HSBC, Lloyds Banking Group, RBS and Standard Chartered. It says the banks' combined core profits last year were £31.5bn. But this was eliminated by the "cost of past mistakes and increased creditworthiness of their own debt", the audit firm's report says. "Dire" This development meant that the major banks actually saw their statutory profits slump 40% on the previous year, at £11.7bn,
  8. Citigroup and Bank of America Merrill Lynch reported disappointing fourth quarter profits on Thursday, as the sub-prime mortgage crisis that unravelled more than five years ago continued to hinder two of the country's biggest lenders. Citigroup, the third-biggest US bank by assets, reported earnings of $1.2bn (£750m) in the final three months of the year, or 38 cents per share. That compares with $933m in the same period a year earlier. Excluding one-off factors, related to restructuring and accounting for outstanding debt, the bank earned 69 cents per share, well below the 97 cents p
  9. Annual profits have rocketed by 246% at the debt purchaser Idem Capital following £115.4m of investment in consumer debt portfolios. Operating profits at Idem hit £26.3m for 2012, up from £7.6m the previous year, after investment in debt portfolios during the year rose to £115.4m from £22.7m. In a results statement the firm, which is a subsidiary of mortgage firm the Paragon Group of Companies, said further portfolio investments were being considered after four deals with Royal Bank of Scotland and MBNA in the last 12 months. Richard Woodman, managing director of Idem Capital, told Credit
  10. Three of Britain’s biggest banks will this week admit that billions of pounds of profits have been wiped out by rising claims for mis-selling payment protection insurance (PPI). Third quarter results by Lloyds Banking Group, the Royal Bank of Scotland and Barclays are expected to show that despite advances of the past three months, the banks have been pushed in to the red by the mounting PPI scandal. Lloyds may have to set aside as much as £2bn against PPI claims pushing its total losses to more than £6bn. Barclays has raised it provisions by £700m. RBS, which is reporting its first resu
  11. The Co-operative Group has reported a sharp fall in profits due to bad business loans and what it describes as a "competitive" food market. Underlying operating profit for the first half year was £174m, down 34% on the £264m the group made a year ago. Total sales rose slightly to £6.56bn. Like-for-like food sales, which strip out the impact of new and closed stores, fell 1.2%. The group said it was confident sales would improve in the second half. More: http://www.bbc.co.uk/news/business-19355912
  12. british gas (now there is a misnomer if i have ever heard one..they are actually a french owned company) profits have risen by 23% in the last quarter, yet they are now saying that gas prices will have to rise again for the winter period! is it not now time for uk govt. to consider the renationalisation of all the utilities companies in the uk today. it is pretty obvious that we are now being bled dry by these companies, as prices rise year on year, all in the interest of shareholders and multinational companies. i do fear for our security of supply, and whether people can continue to a
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