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America Online Inc.'s new flat-rate pricing plan and moves to meet spiraling subscriber demand suggest it is on track to become a major media player, comparable to broadcast or cable TV networks, analysts said Tuesday.
Analysts cautioned, however, that underlying this success loomed a real threat that the online networ... | 9 |
MCI Communications Corp. said Monday it reached a 10-year deal with NextWave Telecom Inc. that thrusts MCI into the top tier of U.S. wireless communications providers.
However, analysts said that while the NextWave deal should allow MCI to compete with other wireless industry heavyweights like AT&T Corp., and the S... | 9 |
Computer Associates International Inc., a leading maker of software for businesses, said Monday it agreed to pay about $1.2 billion for Cheyenne Software Inc.
Computer Associates, the largest independent maker of business software for mainframe computers, said it will offer $30.50 in cash for each share of Cheyenne. Ch... | 9 |
Iomega Corp. said Thursday it plans to apply its computer storage technology to handheld consumer electronics in a way that could lower the cost of saving and transfering data to such devices.
The reusable data storage system, to be known as "n-hand," could be used in digital cameras, computer game devices, cellular ph... | 9 |
Computer Associates International Inc. is expected to unveil Monday a new Internet division that promises to save businesses from the headaches of seeking numerous vendors now needed to set up and manage a Web site.
The company, which manages Web sites for large corporate customers, also plans to sign up hundreds of th... | 9 |
Iomega Corp's plans to apply its computer storage technology to handheld consumer electronics may fundamentally lower the cost of saving and transfering data to such devices.
The reusable data storage system, to be known as "n-hand," could be used in digital cameras, computer game devices, cellular phones and handheld ... | 9 |
Shares of leading U.S. technology companies, already trading near all-time highs, languished on Tuesday as quarterly earnings raised concern that growth would be strong enough to push them to new peaks.
Intead, the sector was raked by profit-taking after a strong run-up in stock prices earlier in the fall season.
Sever... | 9 |
More than $1 billion in royalty payments to Texas Instruments Inc from Samsung Electric Co Ltd will bolster Texas Instruments's net income, and allow it to focus on more profitable lines of business.
But while the deal reassured some Wall Street analysts who were not already counting on the additional earnings from the... | 9 |
Bay Networks Inc shares bounded higher on Wednesday on news the company had named a senior Intel Corp official as chairman and chief executive, a move analysts said could give Bay the strong hand it has lacked.
"It's quite a positive," said Bear Stearns networking analyst Eric Blachno of the long-time Intel executive D... | 9 |
H&R Block Inc., citing problems facing the online service industry, said Wednesday it has decided not to complete the spin-off of the rest of its CompuServe online unit, at least for now.
The Kansas City, Mo.-based company, which owns 80 percent of CompuServe after spinning off part of the online service earlier th... | 9 |
Shiva Corp stock rose five points Wednesday amid resurgent speculation that it may be an acquisition target of a major network equipment player.
"It sure looks like people are speculating that its going to be taking over," said Robertson Stephens analyst Paul Johnson, who maintains a long-term attractive on the sto... | 9 |
Intel Corp shares slid another four points on Friday, continuing a three-day retreat triggered by smaller rival Advanced Micro Devices Inc's statement that its turnaround plan is on track.
But analysts and money managers were unruffled by what they said was profit-taking in Intel and a temporary shift among some moment... | 9 |
Microcom Inc and Rockwell Semiconductor Systems said Wednesday they plan to beef up their technology partnership to speed development of higher speed 56-kilobit modems for central switch equipment.
The 56 kilobit modems would allow computer users to connect to the Internet at speeds nearly double the rate of current 28... | 9 |
Intel Corp stock surged ahead in heavy trading on the strength of its third quarter earnings report, but while its success fueled gains in the stocks of PC makers, the Intel report did little to buoy other chipmakers.
Still, analysts said Intel's share gains Tuesday remained restrained by uncertainties over whether the... | 9 |
Computer distribution powerhouse Ingram Micro Inc. is set to hold its widely anticipated initial public offering on Wall Street Thursday despite some last-minute delays, including management changes.
"We haven't seen anything comparable in the technology sector with its kind of name this year," said Manish Shah, editor... | 9 |
Apple Computer Inc shares crumbled 17 percent on Monday as hope faded on Wall Street for a short-term turnaround in the computer maker's fortunes and further darkened the company's long-term outlook.
Several brokerages urged investors to dump the stock, with Wall Street analysts turning gloomy about the ability of Appl... | 9 |
America Online Inc unveiled a broad strategy to transform the online service provider into a mass media company in a move that further renders Internet access services a commodity business.
Earlier Tuesday, the world's leading online service introduced a flat-rate Internet pricing option as a part of a comprehensive re... | 9 |
The stock of General Electric Co. rose in active trading Tuesday, boosted by speculation it might raise its dividend and increase its share buyback programme following upbeat comments by Chairman John Welch.
Salomon Brothers analyst Russell Leavitt said Welch told analysts who attended a private meeting with him on Mon... | 9 |
MCI Communications Corp. said Monday it reached a 10-year deal with NextWave Telecom Inc. that thrusts MCI into the top tier of U.S. wireless communications providers.
Under terms of the deal, MCI said it will connect its network to a system planned by NextWave to provide personal communications services, giving it the... | 9 |
Chips stocks, especially those of PC-related manufacturers, posted across-the-board gains Tuesday after the release of a monthly industry report showing robust demand in the North American semiconductor market.
Also showing strength in early trading were stocks of companies that make programmable logic devices, includi... | 9 |
Intel Corp stock surged on Tuesday, lifted by a quarterly earnings report that substantially outpaced Wall Street expectations and confirmed its status among analysts as the shooting star of technology stocks.
The earnings report released Monday spurred gains in the stocks of personal computer makers who build machines... | 9 |
Computer Associates International Inc said Wednesday it would focus an increasing share of its resources on its midrange software business and reduce its reliance on mainframe software sales.
In addition, CA President Sanjay Kurmar said in a phone interview he expected a charge "in the $500 million range" related to th... | 9 |
Blue chip technology stocks charged ahead Wednesday in a new buying spree spurred on by optimism about holiday PC sales and year-end book-squaring by money managers, traders and market analysts said.
Market participants said the rally was spurred by positive comments from a Soundview analyst about Compaq Computer Corp,... | 9 |
Semiconductor equipment stocks surged Friday on fresh signs the downturn in the chip industry has hit bottom, and the buying spilled over into some computer chip makers as well.
Investors jumped in after the leading maker of equipment used to produce computer chips, Applied Materials Inc., gave support to the growing c... | 9 |
Microsoft Corp. and Fore Systems Inc. plan to annouce Tuesday a deal in which Microsoft will license Fore's high-speed networking technology for use in future versions of its Windows operating system software, according to sources familiar with the deal.
Asynchronous Transfer Mode (ATM) is an emerging technology on whi... | 9 |
The picture for personal computer demand in the third quarter of 1996 was either half-empty or half-full, depending on which of two market research firms' data is used.
Technology market research firm International Data Corp. said Monday that growth in U.S. PC shipments from a year ago slackened to 12 percent, "the slo... | 9 |
Leading data networking stocks settled back for a round of profit-taking Tuesday after the strong price gains of recent weeks, securities analysts said.
After opening at a 52-week high of 67, industry flagship Cisco Systems Inc retreated throughout the day and was trading off 1-3/8 to 65-1/8.
Similarly, Cabletron Syste... | 9 |
CompuServe Corp., acknowledging its failure to attract U.S. consumers, said Thursday it would disband its family-oriented Wow! online service and focus on its business and technical customers.
The world's second-largest online service also said it would accelerate the way it expenses customer marketing costs and that i... | 9 |
Texas Instruments Inc. said Tuesday it set a licensing pact with Samsung Electronics Co. Ltd. of Korea that will generate royalty payments of more than $1 billion over 10 years.
In exchange, each side agreed to drop pending patent infringement lawsuits against each other.
The agreement replaces a previous five-year dea... | 9 |
Cascade Communications Corp's earnings for the third quarter ended September blew past the published analysts' consensus estimate by a solid $0.02 a share, but fell shy of Wall Street expectations nonetheless.
Despite year-on-year quarterly earnings growth of roughly 200 percent, investors dumped the stock in after-hou... | 9 |
Computer Associates International Inc is set to announce a series of deals designed to extend the reach of its systems managment software onto new computer platforms and to strengthen its existing ties to Microsoft Corp's Windows NT, analysts said.
They said CA is likely to announce deals that allow its software to run... | 9 |
Semiconductor stocks, Wall Street's whipping boys for the past year, are headed toward becoming prized performers amid signs that double-digit growth is returning to the once hot sector, analysts said.
North American sales and bookings data for September due out on Tuesday afternoon are expected to confirm that the ind... | 9 |
Computer distribution powerhouse Ingram Micro Inc. is set to hold its widely anticipated initial public offering on Wall Street Thursday despite some last-minute delays, including management changes.
"We haven't seen anything comparable in the technology sector with its kind of name this year," said Manish Shah, editor... | 9 |
Computer Associates International Inc will unveil on Monday a new Internet business unit that provides one-stop hosting and managing of corporate Web sites, sources close to the company told Reuters.
Launching the new business unit is one of several major announcements the company is expected to make at its three-day C... | 9 |
Shiva Corp. stock lost almost half its value Wednesday after the data communications equipment maker stunned Wall Street by revealing that fourth-quarter earnings were likely to be no more than a third of expectations.
The company's stock plunged $15.625, or 45 percent, to $19.25 on Nasdaq after it said late on Tuesday... | 9 |
AT&T Corp's decision to name outsider John Walter as heir to Chairman and Chief Executive Robert Allen boils down to a basic gamble the company believes it must take to prepare for the torrent of competition ahead.
The nation's largest phone company rejected the standard telecoms pedigree shared by most top executi... | 9 |
Investors snatched up semiconductor equipment stocks Friday amid further signs the cyclical downturn in chips has hit bottom, spurring a round of buy ratings to be issued for leading industry names.
The buying spree followed comments by sector flagship Applied Materials Inc that even at the low-point in the current cyc... | 9 |
CompuServe Corp investors' fears were allayed Wednesday by parent company H&R Block Inc's move to postpone plans to spin off the remaining 80 percent interest in the ailing online service.
Analysts said the looming innundation of the market by the 74.2 million CompuServe shares still held by H&R Block had weigh... | 9 |
MCI Communications Corp. said Monday it reached a 10-year deal with NextWave Telecom Inc. that thrusts MCI into the top tier of U.S. wireless communications providers.
Under terms of the deal, MCI said it will connect its network to a system planned by NextWave to provide wireless personal communications services, givi... | 9 |
Small capitalization technology stocks shrugged off a wave of profit-taking that socked blue chip stocks Monday as investors shopped for values among beaten- down or lesser known names, especially in the Internet sector.
"Some of the second- and third-tier technology names have become the focus," agreed Scott Bleier, c... | 9 |
Intel Corp. stock surged Tuesday, lifted by a quarterly earnings report that substantially outpaced Wall Street expectations and confirmed its status among analysts as the shooting star of technology stocks.
The earnings report released Monday spurred gains in the stocks of personal computer makers who build machines b... | 9 |
Battling competition in its core long-distance phone business, a need to enter new markets and a looming management transition, AT&T Corp. faces an even broader challenge in the proposed merger of British Telecommunications Plc and MCI Communications Inc., two of its biggest adversaries.
British Telecom announced S... | 9 |
America Online Inc's new flat rate pricing plan and moves to meet spiraling subscriber demand suggest AOL is securely on course for becoming a major media player comparable to broadcast or cable TV networks.
But analysts caution that underlying this success looms a real threat that the online network's capacity to serv... | 9 |
Computer Associates International Inc. issued its quarterly financial results, soundly beating Wall Street's consensus forecast.
But the stock fell sharply Wednesday morning after company executives told securities analysts they planned to acclerate investments in its personal computer-based corporate software products... | 9 |
General Electric Co Chairman John Welch was upbeat about GE's prospects for the current year and beyond during a private meeting with Wall Street analysts, several of those who attended said on Tuesday.
In particular, Welch told analysts he was comfortable with current Wall Street estimates for the 1996 calendar year. ... | 9 |
Technology stocks rose Wednesday on a growing belief that recent price-cutting has spurred holiday personal computer sales as money managers loaded up on stocks to dress up their portfolios at year-end.
Traders and analysts said the rally was sparked by positive comments from a Soundview analyst about Compaq Computer C... | 9 |
Acknowledging its failure to attract U.S. consumers, CompuServe Corp said it would disband its family-oriented Wow! online service and plans to defend its business and technical customer base.
The world's second-largest online service also said it would accelerate the way it expenses customer marketing costs and that i... | 9 |
Promising the computer industry equivalent of universal harmony, a U.S.-based start-up formed by a brain trust of Israeli computer scientists Monday unveiled a technology that promises to overcome barriers dividing users of rival software programs.
Anysoft Inc. said its set of software technologies allows computer user... | 9 |
Flextronics International Inc Chief Executive Michael Marks said he expects revenues of around $1 billion during fiscal 1998, more than double the $500 million expected in the fiscal 1997 year ending in March.
Marks was responding to the nose-dive in Flextronics stock price Wednesday morning that send the stock down 12... | 9 |
Coupon clipping is coming to cyberspace.
SaveSmart Inc., a start-up company based in Mountain View, Calif., plans to unveil on Monday a credit card-based scheme to allow computer users to browse for and take advantage of bargains offered by a wide range of local, regional and national merchants.
Consumers will be able ... | 9 |
The head of one of Lloyd's of London's largest corporate investors said on Wednesday he expected the number of traditional Names at Lloyd's of London to continue to fall to a core of between 4,000 and 5,000.
John Stace, chief executive of Angerstein Underwriting Investment Trust, told Reuters it was likely that the num... | 44 |
The drive to cut costs and offset falling margins in insurance broking continued apace on Thursday as Lowndes Lambert Group Holdings Plc and Fenchurch Plc confirmed that they are to merge.
The two London-based brokers announced last week they were in talks and said the complementary nature of their businesses would off... | 44 |
The second large merger between insurance brokers in the space of a week highlights the dilemma many in the industry face over how to counter overcapacity and increasing competition, analysts said on Monday.
The latest move, a 300 million pound ($500 million) merger between Britain's Lloyd Thompson Group and JIB Group ... | 44 |
British insurer General Accident PLC reported a fall in annual profits on Tuesday, despite a record final quarter in 1996.
Operating profits slipped 15 million pounds to 421 million ($680 million) although a rise in weather-related losses of 30 million pounds more than accounted for the decline.
The recent strength of ... | 44 |
Britain's Ladbroke Group Plc on Monday concluded a long-awaited global alliance with Hilton Hotels Corp (HHC) of the U.S., reuniting the Hilton brand worldwide for the first time in 32 years.
Despite the tie-up, which covers 400 hotels in 49 countries, the two companies denied there was a hidden agenda to progress to a... | 44 |
British insurers said on Tuesday they would require those wishing to take out new life insurance policies to reveal the results of genetic tests.
But the Association of British Insurers (ABI) said it would not ask people to take genetic tests when applying for life insurance for the next two years.
The policy statement... | 44 |
Insurance group Guardian Royal Exchange Plc on Tuesday blamed competition and bad weather in the United States and Britain for a sharp fall in trading profits for 1996.
But despite continuing pressures on margins, Guardian chief executive John Robins said there were bright spots.
The company had seen some hardening of ... | 44 |
Scottish Amicable adviser SBC Warburg is hoping to close the first stage in the sale of the life assurance group with the signing of confidentiality agreements with all potential bidders by the weekend, a source close to the deal said on Friday.
So far three companies, Abbey National, Prudential Corp and Australia's la... | 44 |
Insurance group Guardian Royal Exchange PLC on Tuesday reported a sharp fall in 1996 profits and said it was considering a major acquisition within the next twelve months, possibly in the life sector.
The company blamed tough competition and the worst catastrophe weather claims in the U.S. for 75 years for the profits ... | 44 |
The London Stock Exchange launched its new integrated trading and information computer system, Sequence 6, on Tuesday, the last stage in a three-year programme to take the London stock market into the next century.
The new system completes the introduction of electronic trading begun at the time of the Big Bang' shake ... | 44 |
British insurer Legal & General (L&G) on Thursday reported a double digit rise in profits for 1996 and gave an upbeat assessment of the outlook for the group.
But the company ruled out acquisitions in the life and pensions business and said that despite stiff competition, rising sales and profits would continue... | 44 |
Britain's B.A.T Industries said on Monday it was keeping an open mind about opportunities to restructure its operations after news reports that the group is continuing its search for a partner for its financial services businesses.
Tobacco and financial services company B.A.T, however, refused to comment directly on re... | 44 |
Scottish Amicable on Monday confirmed that three companies had submitted final offers for the mutually-owned insurance group by last Friday's bid deadline.
High street bank Abbey National plc and insurers Prudential Corp plc and Australian Mutual Provident (AMP) must now wait until the end of the month to find out who ... | 44 |
The Securities and Investments Board (SIB), responsible for overseeing financial regulation in Britain, has clamped down on the use of stockmarket derivatives to profit from inside information.
SIB said on Thursday that firms should ensure they do not use derivatives to buy or sell stakes for themselves or customers wh... | 44 |
The head of the Securities and Investments Board (SIB), Britain's top financial regulator, on Friday criticised slow progress made in compensating victims of pensions mis-selling in Britain, and called on all parties to ensure a speedy conclusion to the situation.
SIB chairman, Sir Andrew Large, said that progress had ... | 44 |
Britain's Ladbroke Group Plc Monday concluded a long-awaited global alliance with Hilton Hotels Corp., reuniting the Hilton brand worldwide for the first time in 32 years.
Despite the tie-up, which covers 400 hotels in 49 countries, the two companies denied there was a hidden agenda to progress toward a full merger of ... | 44 |
Composite insurer Royal & Sun Alliance Group Plc on Thursday reported lower results in its first year since it merged and said it would seek shareholder approval to buy in up to five percent of its shares.
But large provisions for U.S. environmental claims and the impact of the pound's strength took the gloss off t... | 44 |
Pensions and property group Liberty International Holdings said on Thursday it might go on the acquisition trail to develop its financial services interests.
The company, 69 percent-owned by South African insurance giant Liberty Life, said it was always open to acquisitions and was willing to use its strong balance sh... | 44 |
B.A.T industries said on Wednesday it was interested in expanding its British life insurance activities through acquisition but had been put off bidding for mutual insurer Scottish Amicable by the price.
B.A.T. Chief Executive Martin Broughton made the comments as the group, which also has extensive tobacco interests, ... | 44 |
Britons wishing to take out new life insurance policies will have to reveal the results of genetic tests under a new industry policy announced by the Association of British Insurers (ABI) on Tuesday.
But life insurers will not ask people to take genetic tests when applying for life insurance under the scheme, which wil... | 44 |
British telecoms regulator OFTEL said on Wednesday it proposed to reduce the regulatory demands which were imposed on telephone group Mercury Communications in the early 1980s.
OFTEL said Mercury, part of the Cable & Wireless Group, would have a simplified licence covering both domestic and international operations... | 44 |
Two of Britain's leading insurance brokers Lloyd Thompson Group and JIB Group said on Monday they are to merge in a deal worth 300 million pounds ($496.4 million)
Lloyd Thompson chief executive Ken Carter said the main attraction of the deal was the complementary nature of the two companies' operations and the merger w... | 44 |
Scottish Amicable on Monday confirmed that three companies had submitted final offers for the mutually-owned insurance group by last Friday's bid deadline.
High street bank Abbey National plc and insurers Prudential Corp plc and Australian Mutual Provident (AMP) must now wait until the end of the month to find out who ... | 44 |
Scottish Amicable's plans to float on the stock market were under threat on Friday after Abbey National launched a surprise bid for the mutually-owned life assurance company.
The offer from the retail banking group values ScotAm at up to 1.4 billion pounds ($2.25 billion) and includes an immediate minimum payout of 400... | 44 |
Abbey National on Monday called for Scottish Amicable to put on hold proposals to drop its mutual status and allow policyholders time to consider last week's offer for the life assurance group.
But ScotAm were quick to reject the demand together with renewed requests by Abbey for access to its books.
ScotAm said it had... | 44 |
United Nations' plans to delay Iraq's re-entry to world oil markets lifted oil shares in Europe on Monday as a sharp rise in oil prices fed through to the stock markets, traders said.
Iraqi military activity in the Kurdish north, prompted the U.N. to put on hold a planned humanitarian Iraqi oil-for-food exchange, stopp... | 44 |
Fund manager Nicola Horlick's row with her ex-employer Morgan Grenfell Asset Management (MGAM) continued to be played out in public on Wednesday as she admitted that she had been in talks with a rival banking group until several days before she was suspended.
But Horlick stressed that the talks with Dutch firm ABN AMRO... | 44 |
Britain's National Westminster Bank Plc said on Friday it would be making a first half provision of 50 million pounds ($81.4 million) after finding mispricing errors in the interest rate options book of its Natwest Markets unit.
The bank said a senior trader had been suspended for "failure to supervise", pending the co... | 44 |
Prudential Corp Plc, Britain's biggest life insurance group, reported a healthy rise in profits on Wednesday and said British operations were expected to perform strongly again in the coming year.
But the company made no comment about negotiations with the Department of Trade and Industry (DTI) over the ownership of so... | 44 |
Mutually-owned life assurance company Scottish Amicable on Friday rebuffed a takeover bid worth up to 1.4 billion pounds ($2.3 billion) from British retail banking group Abbey National Plc.
Scottish Amicable said it would pursue its own plan, announced earlier this month, to shed its mutual status and seek a stock mark... | 44 |
Scottish Amicable said on Tuesday it will be giving policyholders information about Abbey National's bid for the company when it details its own proposals to shed its mutual status and float on the stock market.
A spokesman for the life assurer, which has been fighting a public campaign against Abbey's offer said: "It'... | 44 |
Britain's Guardian Royal Exchange said on Tuesday that 350 jobs are to go in a restructuring of the insurance group's area and branch network.
The job losses follow the 48 million pound ($79.2 million) acquisition of Legal & General's commercial insurance operations in July and are the latest in a series of industr... | 44 |
British life assurance group Scottish Amicable on Thursday announced plans to shed its 170-year old mutual status in preparation for a 1.0 billion pounds ($1.68 billion) flotation on the London stock market in three to five years' time.
The group, based in Stirling, Scotland, said it is to use capital raised by the two... | 44 |
Britain's Britannic Assurance declared on Tuesday a 209 million pound ($336 million) special bonus for life insurance policies, following discussions with the government on ownership of surplus insurance funds.
The payout will apply to all "with profits" policies in force on February 17, 1997. Details will be given wit... | 44 |
International insurance broker Willis Corroon, reported a rise in 1996 profits on Thursday but gave a gloomy assessment of the problems of overcapacity and falling rates currently afflicting the industry.
The company said insurance rates were declining almost universally and competition in the U.S. retail market was in... | 44 |
Almost 8 out of 10 people in Britain are opposed to insurance companies using genetic test results as the basis for charging higher premiums or refusing to provide cover, according to an opinion poll commissioned by The Genetics Forum released on Wednesday.
The news comes just a week after the Association of British In... | 44 |
Stiff competition and severe weather in the U.S. led to a 15 million pound ($24.2 million) fall in 1996 profits from British insurer General Accident Plc on Tuesday, despite a record final quarter.
The weather-related losses knocked 30 million pounds off operating profits which slipped to 421 million pounds over the ye... | 44 |
Royal & Sun Alliance Group plc , one of Britain's leading insurers, on Thursday unveiled its first set of annual results following last year's merger and said it would be seeking shareholders' permission to buy in up to five percent of its shares.
But large provisions for U.S. environmental claims and the impact of... | 44 |
Britain's largest insurance group Prudential Corp has become early favourite to win the auction for Scottish Amicable after its 1.9 billion pound ($3.0 billion) bid for the mutually owned life assurance group.
Industry analysts said the offer, which uses excess capital in the Pru's 50 billion pound life fund, will make... | 44 |
Three companies are expected to be left in the running for control of mutually-owned life insurance company Scottish Amicable at the deadline for final offers on Friday evening.
Insurance groups Prudential Corp and Australian Mutual Provident (AMP) and high street bank Abbey National have all been working on offers to ... | 44 |
Britain's NatWest Group said on Thursday it was setting up a new business grouping, NatWest Wealth Management, to tap the potential of private banking, long-term savings and investment markets.
The unit will bring together asset management company Gartmore, life insurance and pensions unit NatWest Life and Investment S... | 44 |
Scottish Amicable on Thursday asked for firm offers for the company to be tabled by the end of February as it emerged that more potential bidders had joined the auction for the mutually-owned insurance group.
Three companies were already known to have signed confidentiality agreements which give access to ScotAm's book... | 44 |
Britannic Assurance on Tuesday promised to speed-up the settlement of cases of pension mis-selling as the insurance group reported a near 50 percent jump in its profits for 1996.
The company admitted it had between 12,000 and 13,000 cases classified as priority cases but said that the resources already committed to the... | 44 |
The battle for control of Scottish Amicable became a three-way race on Friday as the deadline for firm offers for the mutually-owned life insurer passed.
The company said that it had received three initial bids from high street bank Abbey National Plc and insurance groups Prudential Corp Plc and Australian Mutual Provi... | 44 |
British life assurer Scottish Amicable said on Thursday it planned to shed its 170-year-old mutual status in favour of a stock market flotation aimed at taking advantage of opportunities for profit growth.
The Stirling-based group outlined plans to float on the London Stock Exchange in three to five years' time and sai... | 44 |
Lloyd's of London said on Thursday it had been granted judgements in two test cases against members who had failed to pay debts under the insurance market's reconstruction and renewal (R&R) settlement.
The defendants, Dennis Leighs and David Wilkinson, had claimed they were not liable to pay their premium to Equita... | 44 |
Shares in British insurer Commercial Union (CU) jumped on Friday amid renewed speculation the insurance group may become the next victim in the industry's push to consolidate.
Rumours that a merger were in the offing were given a new lease of life after buying of CU shares late on Thursday. The shares rose on Friday, j... | 44 |
Commercial Union (CU) became the latest victim of sterling's recent strength on Wednesday, as the British insurance giant reported a sharp fall in profits for 1996.
A 64 million pound ($104.8 million) currency loss by the company, three-quarters of whose profits come from outside Britain, largely accounted for a near 1... | 44 |
Prudential Corp Plc, Britain's largest life insurance group, reported a healthy rise in profits on Wednesday and said it expected British operations to continue to perform strongly in the coming year.
But the company remained tight-lipped about negotiations with the Department of Trade and Industry (DTI) over the owner... | 44 |
About three million Norwich Union policyholders are to receive free shares under flotation plans announced on Thursday that would value the insurer at about five billion pounds ($8 billion).
Almost two million will receive shares worth 800 pounds on average and another one million "non-profit" members of the mutually-... | 44 |
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