Goldman Sachs to sell entire Rothesay Life stake
Goldman Sachs has agreed to sell its remaining stake in UK-based life insurer Rothesay Life to MassMutual Life Insurance and to funds managed or advised by investment firm Blackstone and Singaporean fund management company GIC.
Investors rush to gold following rising North Korea tensions
The stand-off between US president Donald Trump and North Korea has led to a spike in gold and silver prices, with financial markets adopting a safety first attitude in the immediate aftermath of escalating tensions.
Retirement | 9 Aug 17
Sharp rise in UK advice firms providing pension transfers
There has been a 17% increase in the number of UK financial advice firms with regulatory permission to conduct defined benefit (DB) pension transfers over the past financial year, as demand from clients continues to rise.
Australia’s biggest bank flags sale of life insurance business
The Commonwealth Bank of Australia (CBA) is in talks to sell its life insurance business, the bank has revealed as it reported a 4.6% rise in annual cash earnings to AUD9.88bn (£6bn, $7.8bn, €6.64bn) and raised its dividend.
Tax & Regulation | 9 Aug 17
Ban and fine against former UK adviser network CEO upheld
An appeal by the former chief executive of an adviser network to overturn a ban on having any ‘significant influence’ on any regulated activity has been struck down and a fine upheld by the UK’s Upper Tribunal Tax and Chancery Chamber.