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NFU Mutual is a UK insurance composite. As a mutual , its policyholder members own the business, [ 7 ] and the executives and directors are accountable to them. The full name of the organisation is National Farmers' Union Mutual Insurance Society Limited.
Unlike some other major economies, the UK does not have a major stratum of independent local banks. The number of independent banks shrank further during 2008: Northern Rock was nationalised by the UK Government (and is now owned by Virgin Money ), followed by Bradford & Bingley ; Alliance & Leicester was acquired by Santander , who merged it ...
The Acts of Union 1707 declared that the Kingdom of England and Kingdom of Scotland were "United into One Kingdom by the Name of Great Britain". [p] [22] The term "United Kingdom" has occasionally been used as a description for the former Kingdom of Great Britain, although its official name from 1707 to 1800 was simply "Great Britain". [23]
The Australian banks that controlled the exchanges with London began to sell the Australian unit at a discount in order to increase the competitiveness of their exports to London. The gold standard in Australia was simultaneously abandoned and the Australian pound was now at a 25% discount to the pound sterling.
Under the 2011 Takeover Code, these percentages were raised to 20% and 26% respectively. [18] The 2011 Takeover Code also provides for further mandatory bids by an incumbent who holds between 25% and 75% of a target upon an increase in holdings of at least 5% during a financial year .
The UK rebate (or UK correction) was a financial mechanism that reduced the United Kingdom's contribution to the EU budget in effect since 1985. It was a complex calculation which equated to a reduction of approximately 66% of the UK's net contribution – the amount paid by the UK into the EU budget less receipts from the EU budget.
In 2012, union membership dropped below 6 million for the first time since the 1940s. [73] From 1980 to 1998, the proportion of employees who were union members fell from 52% to 30%. [74] [75] In 2021, it was reported that trade union membership had more than halved since 1979, [76] when 53 percent of workers were union members. [77]
Unified Payments Interface (UPI) is an Indian instant payment system as well as protocol developed by the National Payments Corporation of India (NPCI) in 2016. The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions.
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