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Nationwide lashes out at rescued banks

The head of Nationwide, Britain’s biggest building society, accuses government-backed companies of seriously distorting the savings market as its profits fall more than 60%

Mortgages before current accounts at Tesco

The supermarket chain, which has pledged to become the ‘people’s bank’, has indicated that it could look to introduce mortgages by the end of next year, but may not begin offering current accounts until 2011

Gartmore to cut debt with £250m IPO

The asset management group says the offering will cut net debt to £150m. Managers are expected to sell up to 20% of their shares

Brussels warns on accounts rules

The European Commission has warned that it will be months before it decides whether to support a radical overhaul of accounting rules on how banks and other financial institutions value their assets

Investec looks to UK for 10% growth

The South African financial services group plans to increase its lending to UK customers,

Nationwide seeks help in new rash of acronyms

The building society sector, led by the leading operator, approaches regulators about a CoCo-based model that could buttress their stressed capital bases

Lex: Bonus windfall tax

‘Try it: millions will love it,’ writes Martin Wolf, the FT’s chief economics commentator. In the UK, the mob is once again baying for blood

New talent lured ahead of listing

Gartmore has spent the past year steadily recruiting talent from other asset managers – a move that was widely seen as preparation for a public listing

PayPoint plans further overseas expansion

The move comes after the UK corner-shop payments processor said its Romanian operation, the group’s first foray into European markets, would break even next year

Informant says Galleon tips came from Asia

The scope and complexity of the alleged insider trading ring involving Galleon are thrown into relief after it emerges that one informant was given trading tips by a source in Asia

Rising portfolio value bolsters KKR

S&P quits Australia’s retail investment

JPMorgan completes takeover of Cazenove

AmexCo to buy online payments business

JPMorgan unveils £1bn Cazenove deal

KBC to shed risky lines in EU compliance deal

Poland sets conditions on bourse privatisation

GE prices Islamic corporate bond

Gillian Tett: The backlash against banks has barely started

EC alleges S&P monopoly abuse

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