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...Royal London, the life insurer which had its own role in the events at LV, earlier this month said it would enter the corporate pensions market, where companies offload their defined benefit pension schemes...
...Its audit and assurance arm will remain as a standalone unit....
...“Having the tax business connected to assurance and advisory is critical, but structurally I don’t need those businesses to be smashed together for that to happen.”...
...Under the terms of the transaction, Nationwide will pay 218p in cash for each share of Virgin Money and a final dividend of 2p, the companies said on Thursday....
...While recognising the hurdles, people familiar with Nationwide’s approach say that its mutual status affords it greater time to pull off the integration than if it were a listed company beholden to shareholders...
...The mutual will pay 220p per share for the challenger bank, in a combination that the companies say will create the second-largest provider of mortgages and savings in the UK....
...With no intention to convert to a public listed company, there is no requirement to consult Nationwide’s 3.7mn committed members....
...The deal would also be a rare acquisition of a listed company by a mutual, which is owned by its more than 16mn members who have a current account, mortgage or savings with the company....
...A number of listed UK companies seem priced for a quick sale. On Thursday, Britain’s largest private building society Nationwide announced it had provisionally agreed a takeover of Virgin Money....
...“This provides further evidence that households are no longer searching for higher interest rates by tying up money in fixed-term accounts,” said Ashley Webb, economist at research company Capital Economics...
...Nationwide warned that raising a deposit remained a major challenge for homebuyers....
...Nationwide’s diversity focus is not solely on executive leadership. It has introduced the posts of “inclusion partners” to maintain its D&I strategy across the company....
...The company’s net income fell 46 per cent to Rmb12.2bn ($1.69bn) last year, the state-linked company said in an exchange filing late on Thursday....
...Nationwide, the country’s largest mutual, has attracted ire from campaigners and some of its members in recent weeks who argue that it should put its purchase of Virgin Money to a vote....
...The division will bring together BT’s corporate strategy and development team and the group transformation and assurance team, according to the email. McKinsey declined to comment....
...Relative to earnings, house prices in London reached the highest on record in 2016, according to separate data from Nationwide....
...At quality assurance group Intertek, turnover has grown from £471mn to £3.3bn. They will also have benefited from share buying by index funds....
...UK house prices rose unexpectedly last month, supported by a lack of properties for sale, according to the mortgage provider Nationwide....
...Vanke, partly owned by Shenzhen Metro, the rapid transit system in the southern city, is the latest focal point of a nationwide property slowdown that has seen many of its peers default on their debts....
...Nationwide reported that the average house price was £13,000 below its peak in August 2022, reflecting the hit to the market from higher borrowing costs....
...The figures align with data from mortgage provider Nationwide this week, which also showed an unexpected drop in house prices in March....
...The Nationwide Index, for example, is based on mortgages approved in the month, while the official house price index tracks prices of completed transactions....
...But is it actually serving to lower companies’ emissions? Yes, according to new research — but only among companies that subject their climate reports to third-party assurance....
...FedEx moved most of the United States Postal Service air cargo nationwide....
...City minister Bim Afolami attempted to provide assurance at the end of January when he said in a statement to MPs that the overseas funds regime would treat European Economic Area regulation as equivalent...
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