The Electronic Telegraph   25 April 1995    CITY
[City News]

Lloyd's denies it faces collapse

[banking] LLOYD'S of London leaders yesterday acted to stop speculation that the 306-year old insurance market, which has lost £7 billion in only four years, was on the verge of collapse. "I have no doubt that we will pass solvency this year," chief executive Peter Middleton said, answering critics who say Lloyd's will fail its Department of Trade solvency test in August and be forced to stop trading.

Cray shares halved after costs warning

[markets] SHARES in Cray Electronics almost halved yesterday as the communications and software group warned that costs ran out of control last year in its largest division and it had since failed to deliver products to customers.

Davies sees no need for interest rate rise

[economy] HOWARD Davies, CBI director-general, argued yesterday there was no case for a rise in interest rates just hours after being confirmed as the next deputy governor of the Bank of England.


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