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Bradford & Bingley rights issue rescued

Bradford & Bingleyhas confirmed it is going ahead with its rights issue, revised again back up to £400 million from £258 million with the backing of major UK-based shareholders, including M&G Investment Managers, Legal & General Investment Management, Insight Investment and Standard Life Investments, with an unchanged price of 55p per share.

Rod Kent, executive chairman of Bradford & Bingley said, "Whilst we are disappointed that TPG intends to terminate its Subscription Agreement, I am pleased that Citi and UBS and our major shareholders continue to support our proposed capital issuance.

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Insurance News

Brits take to the road for hols

Nearly 12 million Brits are opting to drive to a UK or European holiday destination this year in order to cut costs and stress levels, according to new research by AA Personal Loans. It reveals that almost half of Britons (46%) are choosing to spend at least one of their holidays within 'driving distance', with 22% of them directly blaming the credit crunch.

Fraudsters make millions in car insurance claims

Around £5m a week of fraudulent motor insurance claims were made last year, according to figures from the Association of British Insurers (ABI).

Locked the door? Secure your home contents

Fitting burglar alarms and locks to doors and windows is common sense, yet 11% of people still leave their front door wide open to burglars each year, according to recent research from Newcastle Building Society.

Landlords predict strong tenant demand

An increasing number of residential landlords believe that tenant demand will continue to grow over the next 12 months as the housing market remains subdued.

Public has little faith in Government over pensions

Two thirds of Brits (66%) surveyed have little or no faith in the Government when it comes to pensions, according to research from insurer, Friends Provident.

Push the button for holiday cash

UK holidaymakers can now get commission-free foreign currency from new specially designed cash machines at selected Post Office branches.

Bonding with Scarborough

Scarborough Channel Islands Limited (SCIL) - part of the Scarborough Building Society - is offering a new 1 Year Guaranteed Bond.

OFT launches probe into Scottish property factoring

The OFT (Office of Fair Trading) has launched a probe into property management services for common and shared residential property in Scotland

Three ways to insure your home

Tesco is launching three new home insurance products on June 22nd. The range, comprising Value', Standard' and Finest' options, is designed to meet the needs of customers, whatever their home insurance requirements.