M&G profits plunge by 40% to £40m

M&G, the fund management arm of UK insurer Prudential, achieved pre-tax profits of just £40m (€66m) for the first half of 2001, 40% down on last year's interim figure.

Analysts say this represents a dreadful return for Prudential. At this rate, it would take more than two decades to recover the £1.9bn it spent buying the firm in 1999.

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Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is ReachedExternal link

Europe Draws Up Retaliatory Tariffs for U.S. Goods in Case No Trade Deal Is Reached