And in the real world... Standard Life, William Hill, Yell and more

LONDON - Today's round-up of the biggest business stories.

And in the real world... Standard Life, William Hill, Yell and more
And in the real world... Standard Life, William Hill, Yell and more

Standard Life Bank has been sold to Barclays for £226 million in cash. The deal, which will secure Barclays a savings book of £5.5 billion and around 80,000 mortgages totalling £8.8 billion, significantly undercut analysts' expectations. In the past, Standard Life has produced the majority of its advertising in-house as well as using agencies The Gate and Leith.
Source: The Financial Times

City bankers have been angered by the Conservatives' plan to ban end-of-year cash bonuses. George Osborne, the shadow chancellor, announced the plans that would force regulators to stop high-street banks from awarding bonuses during a speech at Canary Wharf yesterday. The new system would see employees awarded shares rather than cash.
Source: The Guardian

B&Q has devised a new curriculum to be taught in schools that will give children an education in basic DIY skills. In response to research that parents are no longer passing on DIY skills to their children, the lessons will include painting and papering walls, putting up a shelf, fixing a leaky tap and putting up a picture.
Source: The Daily Mail

ING, whose advertising is handled by Beattie McGuinness Bungay, has announced that the European Commission has forced a radical break-up on the financial services group. The restructure will see its insurance arm, worth around €12-15 billion go up for sale leading to a 45 per cent reduction in ING's balance sheet.
Source: The Financial Times.

Yell has passed the set deadline for drumming up lender support for its planned restructure of its £3.8 billion debt. The directories company is expected to ask for a second deadline extension to give it time to get the 95 per cent support it needs from its creditors.
Source: The Financial Times

Electrolux has unveiled a stronger-than-expected rise in its third-quarter net profit. As a result of cost cuts, higher prices and lower material costs, the appliance manufacturer posted a 93 per cent rise in its net profit to 1.63 billion Swedish Kronor, compared with 847 million the previous year.
Source: The Wall Street Journal

Two of Britain's biggest betting companies, William Hill and Betfair have set their sights on India's $60 billion betting market by bidding for an internet licence in the Himalayan state of Sikkim. 13 betting companies are competing for three licences available in the state.
Source: The Independent

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