Round up - July 23

Professional Pensions
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Friends Provident merger discussions may spark bids; Debt crunch to hit stocks, says Morgan Stanley; FSA chief accuses US of poor flotation standards; Swing into surplus not all it seems

Friends Provident merger discussions may spark bids The Telegraph (pg B1) Friends Provident and Resolution will confirm today they are in £8bn merger talks that could lead to the creation of Brit...

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