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...XTX, one of the world’s biggest proprietary trading and market-making groups, had sought to use Aviva Investors’ and L&G Investment Management’s money-market funds to invest some of its own cash....
...Net client flows across its wealth and wholesale asset management arms rose to £1.1bn from £200mn the previous year, however £6.2bn was redeemed from its UK institutional asset management division, which...
...L&G posted an operating profit of £1.7bn, broadly flat on the previous year but below analysts’ consensus estimates....
...M&G’s share price rose by about 2 per cent in morning trading....
...Z.d.G....
...L&G declined to comment....
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...The deal values Tod’s at around €1.4bn excluding debt. LVMH will retain its 10 per cent stake in Tod’s after the transaction....
...As L&G takes on liabilities, it creates assets to back them. Homebuilding has been a key aspect of Wilson’s tenure. L&G had acquired or built almost 1,000 affordable homes by the end of 2022....
...But increasing rates sapped L&G’s fund management arm, pulling the value of its assets under management down from £1.29tn in June 2022 to £1.16tn....
...None more so than the venerable De L’Europe, which has stood at the confluence of the Amstel river and two canals since 1896 and is just completing a five-year renovation....
...Some £1.2tn of assets may be available. L&G dominates bulk UK annuities market with about a quarter of the market. Specialists Pensions Insurance Corporation and Rothesay have a fifth each....
...P&G took a $1.3bn non-cash impairment charge against the value of its Gillette shaving brand, citing the weakening of several currencies against the US dollar, and reported a 15 per cent organic fall in...
...L&G said that it had written £13.4bn of pension transfer business globally so far this year....
...P&G adjusted its full-year sales guidance to growth of 2 to 4 per cent, compared with previous forecasts for an increase of 3 to 4 per cent. Shares were up 1.5 per cent in pre-market trading....
...Its share price and that of bigger rival L&G have snaked sideways for more than a year. Just trades at a 60 per cent discount to book value. Its life insurance peers are closer to parity....
...Peter G Moffatt Professor of Econometrics University of East Anglia, Norwich, UK Letter in response to this letter: The tricks Nixon tried to get re-elected!...
...Sales at the group, which owns brands such as Garnier and Lancôme, grew 11.1 per cent on a like-for-like basis for a total of €10bn in the quarter ending September 30, coming in just below consensus analyst...
...A serial non-executive director at Tesco and formerly at L&G and the foreign office, Platt joins the new chief executive officer Dan Olley as he attempts to turn the fortunes of Britain’s largest funds supermarket...
...The group also includes executives of Related Companies, private credit groups Ares Management and HPS, and L Catterton, a private equity group that invested in Equinox in 2017. Read more here...
...Plans to raise €1.25bn via listing could fund further deals and consolidate ownership of businesses in which it has acquired majority stakes....
...“Higher interest rates are benefiting L&G’s large pension business, and Aviva’s ongoing transformation is reaping rewards,” she said, noting its diversification into wealth management....
...Shares in Hermès rose 5.1 per cent, helping the company overtake L’Oréal to become the second most valuable firm in France’s blue-chip Cac 40 index....
...Also on a multiple of sales, L Catterton’s offer looks underwhelming — just 1.7 times this year’s revenues. For reference, the buyout group recently floated Birkenstock at 5.5 times sales....
...Nearly half are missing meals, the UN’s World Food Programme has warned, with 1.4mn people at risk of famine. More than 360,000 people are displaced....
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