Standard saving
Standard Life policyholders will save up to £400 million after the Government said that it would not tax their windfalls from the society’s demutualisation. Policyholders had faced a 40 per cent tax on their gains, expected to be about £500 to £1,000 each.
Montgomery deal
David Montgomery, the British investor and former Mirror Group boss, has acquired the Hamburger Morgenpost newspaper months after he fronted the takeover of the newspaper publisher Berliner Verlag. Details were not disclosed.
B&D loses power
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Black & Decker, the tool maker, reported lower fourth-quarter earnings at $100.6 million (£56.5 million) against $135.3 million last time. Sales decreased in its consumer business and grew more slowly than in previous quarters for power tools.