Although the recession caused a decline in charitable donations on both sides of the Atlantic, the financial crisis has also had some positive effects on the
sector.
This is according to the Wall Street Journal, which notes that outright giving is now being replaced by
Thursday, 03 December 2009
ECB 'winding down' stimulus measures
The European Central Bank (ECB) is set to start the withdrawal of economic stimulus measures, it has emerged.
ECB president Jean-Claude Trichet announced in Frankfurt today (December 3rd) that banks will no longer have access to the short-term loans designed to aid liquidity and encourage lending.
’Improved conditions in financial markets have ...
Tuesday, 01 December 2009
Survey shows growth in fund managers using alternatives
A new poll from Reuters has shown that UK fund managers increased their exposure to alternative investment vehicles during November.
The survey found that allocations to alternatives grew from 9.7 per cent in October to 11.1 per cent last month, while conventional investments such as equities recorded a slight decline.
According to ...
Monday, 30 November 2009
Banking sector is unique, says CBI
The banking sector is unique and a variety of particular systemic risks are associated with it.
Such is the opinion of John Cridland, deputy director-general of the Confederation of British Industry (CBI), who made his remarks after the publication of the Walker Review of corporate governance within the financial services sector.
Mr ...
Monday, 30 November 2009
London Stock Exchange 'aims for minimal disruption in future'
London Stock Exchange has announced that it aims to minimise any potential disruption for market participants before it moves to the MillenniumIT trading platform in 2010.
The organisation made its remarks following trading interference in UK securities on November 26th.
It noted that limited client connectivity issues affected a range of market ...
Monday, 30 November 2009
UK GDP being hit "particularly hard"
The UK’s gross domestic product (GDP) is being hit ’particularly hard’ in the current economic climate, one sector commentator has stated.
Centre for Economics and Business Research senior economist Charles Davis made his remarks following the publication of research by the Office for National Statistics earlier this month.
The data indicated that ...
Monday, 30 November 2009
Interest rate maintenance 'good for economic growth'
Maintaining the base rate of interest at its current level will help to promote recovery in the UK’s financial markets, it has been asserted.
Charles Davis, senior economist at the Centre for Economics and Business Research (CEBR), made his remarks after a report by the Organisation for Economic Co-operation and Development ...
Monday, 30 November 2009
Copenhagen 'important' for environmental investments
An investment expert has said that the Copenhagen summit will represent an ’important milestone’ for markets such as renewable energy and green fuels.
Ian Simm, chief executive of Impax Asset Management, was one of several industry specialists asked by the Association of Investment Companies (AIC) to share his views on environmental ...
Monday, 30 November 2009
Dubai debt fears 'continue to impact on European markets'
Stock investors continued to be cautious today (November 30th) due to the concerns surrounding Dubai World’s debt situation.
Last week, the state-owned conglomerate revealed that it was delaying repayment on liabilities totalling $59 billion (£36 billion), an announcement that produced shockwaves around the financial world and sent stock markets plummeting.
Commenting on ...
Monday, 30 November 2009
Isas 'should be completely tax free'
Chancellor Alistair Darling should move to make Isas completely tax free when he unveils his pre-Budget report next week.
This is according to Fidelity International, which said that changes to the tax efficiency of the Isa has ’diminished the product in the eyes of the public’ in recent years.
With Mr Darling ...
Monday, 30 November 2009
NAPF calls for 'more communication' over pension benefits
The government must do more to convince private sector employees of the benefits of pensions, it has been claimed.
According to the National Association of Pension Funds (NAPF), the government is still dragging its feet in terms of convincing people of the benefits of saving for their retirement.
NAPF spokesperson Mark Brooks ...
Saturday, 28 November 2009
Spotlight on 'bizarre' alternative investments
Children’s dolls, shrunken heads and punk rock artifacts are some of the more unusual options available to adventurous investors.
This is according to the Guardian, which highlighted the most ’bizarre’ elements of the alternative investment market in a recent article.
The newspaper notes that shrunken heads - macabre trophies originally brought back ...
Saturday, 28 November 2009
Offshore tax extension welcomed by CIOT
The Chartered Institute of Taxation (CIOT) has said that the decision to extend the deadline for the HM Revenue & Customs (HMRC) offshore tax amnesty represents a ’sensible and realistic move’.
UK taxpayers who have failed to make payments on their offshore savings and investments will now have until January 4th ...
Friday, 27 November 2009
Dubai debt causes sterling to slide
The pound dropped to its lowest level against the euro in a month on Thursday (November 26th) as markets reacted to fears over debt problems in Dubai.
Dubai World, the state-owned conglomerate, has delayed repayment on some of its $59 billion (£36 billion) liabilities, which represent a large proportion of the ...
Friday, 27 November 2009
Art 'viewed as a serious investment'
A growing number of financial experts consider art to be an alternative investment worth considering.
This is according to the Guardian, which reported that although art investments may not offer the same level of growth as other categories such as wine and gold, they can still provide an attractive return.
Figures show ...
Thursday, 26 November 2009
Government urged to act over pensions
The National Association of Pension Funds (NAPF) has called on the government to be more supportive of workplace pensions.
According to the organisation’s annual survey, the recession had an impact on private sector defined-benefit pensions, as 23 per cent of schemes are now open to new members, compared with 28 per ...
Thursday, 26 November 2009
"More robust" financial system needed
The financial infrastructure of the country needs to be ’more robust’, an expert has said.
In a recent address, Andrew Bailey from the Bank of England identified three elements to strengthening the system - ’regulation, structure and resolution’.
He said that there is ’nothing new’ about the latter, pointing out that it ...
Thursday, 26 November 2009
EU mulls hedge fund regulatory body
A regulatory watchdog to oversee hedge funds should be set up for the whole of Europe, it has been claimed.
Jean-Paul Gauzes, a member of the European parliament for France, is to present a report on the matter.
Forbes reports that the regulator would oversee hedge funds to ensure that they exercise ...
Thursday, 26 November 2009
Institutional investors 'should be more active'
Institutional investors need to be more active in their role, a review has stated.
Sir David Walker called for institutional investors to be ’less passive and prepared to engage earlier’ if they spot failings in the governance of their establishment.
The Walker Review of Corporate Governance has concluded that financial organisations need ...
Thursday, 26 November 2009
Charges verdict against banks would have had "big" consequences
The knock-on effect on
private banking would have been ’big’ if a Supreme Court ruling on bank charges been in favour of the Office of Fair Trading (OFT), it has been asserted.
According to Martin Bamford, chartered financial planner for Informed Choice, the Supreme Court’s recent judgement against the ...
Wednesday, 25 November 2009
OFT: Bank charge judgment disappointing
The Office of Fair Trading (OFT) has expressed disappointment at today’s Supreme Court judgment on unarranged overdraft charging terms.
Previous Court of Appeal and High Court rulings that such fees should be assessed for fairness were overturned.
The OFT said it will now make an announcement next month on whether it ...
Wednesday, 25 November 2009
BBA 'pleased' with clarity on bank charge issue
The British Bankers’ Association (BAA) has welcomed today’s decision on unarranged overdraft charges.
It has been ruled by the Supreme Court that such fees are a key part of current account services and the amount charged by financial institutions cannot be assessed for fairness.
BBA said it was pleased that the issue ...
Wednesday, 25 November 2009
Gift Aid 'a key part of charity investment'
Market participants planning to make charitable investments have been urged to claim Gift Aid.
The UK Giving 2009 survey has revealed that less than half of those making donations to good causes are making it possible for organisations to claim this tax relief, the BBC reported.
As a result, about £750 million ...
Wednesday, 25 November 2009
Socially responsible investments 'do not mean lower returns'
Ethical investments can reap the same rewards as any others, it has been suggested.
Social lender Bridges Ventures told the Third Sector website that it is not necessary to sacrifice a good financial return in order to make a positive difference.
Executive director Michele Giddens explained: ’This is intended to show that ...
Wednesday, 25 November 2009
Net worth check 'could be surprising'
People doing investment, retirement or estate planning may get a pleasant surprise when calculating their net worth, it has been suggested.
Donald Hamburg, an estate lawyer based in New York City, told Forbes that the recent financial turmoil has led many people to underestimate the net value of their assets.
He explained: ...
Wednesday, 25 November 2009
Cable unveils plans for national infrastructure bank
Liberal Democrat shadow chancellor Vince Cable has revealed his party’s proposals for a national infrastructure bank.
He claimed that the UK needs a way of cutting the cost of capital - through government guarantees - while also attending to the demands of private savers for long-term investment.
Speaking at the Civilisation Congress ...
Tuesday, 24 November 2009
Investors "jumpy" over US economic data
Weaker-than-expected GDP figures from the US saw many share investors rush to cash in their profits today (November 24th), according to City Index.
Publishing new economic data, the US Commerce Department revised its estimate of annual growth in the nation’s GDP between July and September down from 3.5 per cent to ...
Tuesday, 24 November 2009
"Always" be on the lookout for alternative investments
Investors should ’always’ be looking for alternative investment opportunities, one sector commentator has asserted.
Responding to a reader’s question about the popularity of the alternative investment market in a column in the Montgomery Advertiser, John Norris stated that monitoring the market is a wise move, especially in the current economic climate.
He ...
Tuesday, 24 November 2009
Socially responsible investments 'do not mean diminished returns'
Opting for socially responsible investments does not mean that investors will be faced with diminished returns, one sector commentator has asserted.
Writing for FT Adviser, Richard Marwood stated that ethical and socially responsible investments have become increasingly commonplace in the last decade or so.
As such, he noted that such investing is ...
Tuesday, 24 November 2009
UK fiscal stimulus 'must not be withdrawn too quickly'
In order to promote economic recovery in the UK, fiscal stimulus packages must not be withdrawn too quickly, it has been asserted.
Hetal Mehta, economist and economic advisor for the Ernst & Young ITEM club at Oxford Economics, made her comments following the recent publication of data by the Office for ...
Tuesday, 24 November 2009
OECD GDP 'rose in Q3'
Gross domestic product (GDP) in the Organisation for Economic Cooperation and Development (OECD) areas increased in the third quarter of 2009, preliminary estimates indicate.
The figures suggest that over the three-month period, the seasonally-adjusted GDP rose by 0.8 per cent, compared to zero per cent in the previous quarter.
Within the area, ...
Monday, 23 November 2009
Investors urged to take advantage of compound interest
Investing sooner rather than later will help savers to reap the benefits of compound interest.
This is according to Fidelity International, which notes that Albert Einstein is believed to have described compound interest as ’the eighth wonder of the world’.
By investing in an Isa at the beginning of December rather than ...
Monday, 23 November 2009
Wine named best alternative investment of the decade
Fine wine has been the best-performing alternative investment category of the last ten years, according to the Guardian.
In a review of the alternative investment market since 2000, the newspaper stated that the returns from some French vintages have ’far outstripped equities, gold and property’.
The Liv-ex Fine Wine Investables Index shows ...
Friday, 20 November 2009
Investor demand causes surge in gold production
The production of gold coins by the Royal Mint has more than quadrupled in recent months due to soaring demand for the precious metal.
New figures show that the output of gold coins rose to 32,736 ounces in the third quarter of the year, up from 7,500 ounces during the corresponding ...
Thursday, 19 November 2009
AIC supports plans for financial education body
The Association of Investment Companies (AIC) has reacted positively to plans for a new Consumer Financial Education Body.
Outlined in the Queen’s Speech on Wednesday (November 18th) as part of the forthcoming Financial Services Bill, the new organisation will make it easier for consumers to take action against financial institutions.
It is ...
Thursday, 19 November 2009
Ethical finance 'suffering from low awareness'
Awareness of ethical finance is still low among UK residents, despite a growing interest in such products.
This is according to new research presented by EIRIS, which found that 62 per cent of people could not identify or describe any ethical financial products or services.
The online poll, carried out by Ipsos ...
Wednesday, 18 November 2009
New banking regulations outlined in Queen's Speech
The Financial Services Authority (FSA) will be given greater power to regulate banks thanks to new legislation outlined in the Queen’s Speech today (November 18th).
Under the terms of the Financial Services Bill, the FSA can void any contracts that it believes will encourage overly risky strategies among bank employees from ...
Wednesday, 18 November 2009
Options growing for charitable investments
Investors are using an increasingly diverse range of vehicles to channel their money into charitable causes, it has been claimed.
The Wall Street Journal reports that the profile of so-called ’programme-related investments’, which aim to provide a healthy return while also ’doing good’, has risen steadily since the onset of the ...
Tuesday, 17 November 2009
Investment opportunities identified in Middle East
The Middle East is a region with ’tremendous growth potential’ in terms of hedge funds and alternative investment opportunities, it has been claimed.
According to a report from hedgeweek.com, the hedge fund industry is poised for significant growth in the Middle East but is still waiting to be galvanised by a ...
Tuesday, 17 November 2009
Banking industry 'needs global regulation'
An industry analyst has called on the EU to press for a global regulatory framework for the banking sector.
Michael Baxter, economics analyst at Investment and Business News, said that the EU could help to establish a ’global system of standards and regulation’ that would ensure that the incidents leading ...
Monday, 16 November 2009
MPs concerned by "overambitious" EU plans for banking reform
A committee of MPs has warned that EU plans for wide-reaching reforms of the banking system are being rushed through.
Responding to the European Commission’s recent proposals for new financial regulation, the Treasury Committee said that the relatively brief timescale allocated to implementing the reforms is ’overambitious’.
The EU hopes to rubber-stamp ...
Monday, 16 November 2009
Investors 'should keep emotions in check'
An investment expert has advised people to ’leave emotion at the door’ if they aim to make money.
Senior investment adviser at Bestinvest Adrian Lowcock made his comments following the launch of a new investment vehicle by Emotional Assets Management and Research (EAMR).
Believed to be the first of its kind, the ...
Monday, 16 November 2009
Socially responsible investing 'has advanced in the last 5 years'
Socially responsible, ethical investment has made a significant amount of progress in the last five to ten years, it has been asserted.
Mark Robinson, spokesperson at the Ethical Investment Research Service, made his comments following the publication of a new study from the organisers of National Ethical Investment Week.
The research indicated ...
Friday, 13 November 2009
New data shows eurozone has emerged from recession
The 16 eurozone countries saw economic growth of 0.4 per cent between July and September this year, according to official figures.
Data from the EU statistics body Eurostat revealed that the region’s two largest economies - France and Germany - enjoyed their second successive period of positive growth in the third ...
Friday, 13 November 2009
New AIFM Directive proposals welcomed by AIC
The Association of Investment Companies (AIC) has welcomed the Swedish Presidency’s new proposals for the EU’s controversial Alternative Investment Fund Managers (AIFM) Directive.
Many industry figures are opposed to the directive, which would significantly increase compliance costs for hedge fund managers and private equity firms, in its current form.
Sweden currently ...
Thursday, 12 November 2009
Kleinwort Benson - Response to Foot Report
The Foot Report "rightly highlights the symbiotic relationship the UK economy enjoys
with the Crown Dependencies and overseas territories", says Joe Truelove, Head of Business
Development for Kleinwort Benson’s Corporate Clients Department, Guernsey.
Commissioned by the Chancellor of the Exchequer in December 2008, the Report seeks to identify the
opportunities and challenges generated by turmoil in global financial markets, and the subsequent impact
on the world economy, of the three Crown Dependencies (Guernsey, Isle of Man and Jersey) and six
Overseas Territories (Anguilla, Bermuda, British Virgin Islands, Cayman Islands, Gibraltar, Turks and
Caicos Islands).
Thursday, 12 November 2009
UK investors 'would like to make a difference'
A new survey has indicated that there is an appetite for ethical investments among UK savers.
Conducted by YouGov on behalf of the National Ethical Investment Week, the poll found that 49 per cent of people with savings and investments would like to make money while ’making a difference’.
However, it also ...
Thursday, 12 November 2009
Estate planning is 'adapting to digital world'
The growth of digital media has created a number of new challenges for traditional estate planning, it has been claimed.
According to a Dow Jones column published in the Wall Street Journal this week, unknown passwords to email accounts and other online resources can cause problems for planners if a client ...
Wednesday, 11 November 2009
Darling sets date for pre-Budget report
The Treasury has announced that chancellor Alistair Darling will deliver his pre-Budget report on December 9th.
Mr Darling is expected to offer an updated economic forecast and elaborate on his plans to improve government finances following the bank bailouts and a major decline in tax revenues.
Next month’s pre-Budget report will be ...
Tuesday, 10 November 2009
Stock investors undecided on market recovery, survey indicates
A new survey has revealed that 39 per cent of investors believe it is too early to make confident predictions about the future of the stockmarket.
The poll by Barclays Stockbrokers found that while 34 per cent are convinced that recent rallies are a sign of recovery, many more investors think ...
Monday, 09 November 2009
Economy "on the road to recovery"
The UK’s economy is ’on the road to recovery’, according to one sector commentator.
Hetal Mehta, senior economic adviser to the Ernst & Young ITEM Club, made her comments after the publication of GDP figures by the Office for National Statistics at the end of last month.
The numbers showed that the ...
Friday, 06 November 2009
Socially responsible investing 'still a popular choice'
Investing their
private wealth into socially responsible companies or initiatives is still a popular choice among Britons, despite the ongoing recession.
This is according to Irish Independent writer John Cradden, who states that the economic crisis has instigated a period of change when it comes to wealth management.
He added ...
Friday, 06 November 2009
Green energy and gold 'are great investment opportunities'
One finance expert has offered tips on investments in both the short and the long-term for those hoping to step up their wealth management strategies.
Stanley Fink, head of International Standard Asset Management, told Reuters that in the short-term, gold and other heavily-relied-upon commodities are a failsafe option.
When it ...
Thursday, 05 November 2009
Gold prices 'continue to rise'
Those whose interests lie in alternative investments may be pleased at the news today that spot gold has risen to a record high of $1,090 per ounce.
On Wednesday at 01:15 GMT, it was bid at the price of $1,091.05 an ounce, compared to a high of $1,084.50 in New York ...
Thursday, 05 November 2009
Investing in gold: The basics outlined
Those seeking alternative investments may like to think about investing their capital into one of the less-obvious options open to them, an expert has highlighted.
Speaking to news provider Rediff.com, financial planning professional Sailesh Multani offers those with gold investments on their mind some insight into how the market operates. ...
Wednesday, 04 November 2009
Bank restructuring 'will aid competition'
PricewaterhouseCoopers (PwC) has said that the restructuring plans outlined for the Royal Bank of Scotland and Lloyds Banking Group will benefit competition in the UK banking sector.
Commenting on the announcement that hundreds of RBS and Lloyds branches will be sold off, PwC spokesperson John Hitchins said that the government is ...
Wednesday, 04 November 2009
Funds of funds enjoy third-quarter growth
New figures released by the Investment Management Association (IMA) have revealed that funds of funds experienced net sales of £1.4 billion in the third quarter of 2009.
Representing a 17 per cent increase on quarter two, this figure is the highest on record for funds of funds.
Meanwhile, tracker funds witnessed net ...
Tuesday, 03 November 2009
Crown Dependencies 'help to fund mainland banks'
The Crown Dependencies play an important role in financing UK banks on the mainland, it has been claimed.
Ronnie Ludwig, partner at accountants Saffery Champness, told the Times the financial sectors of Jersey, Guernsey and the Isle of Man ’route significant capital flows into Britain’.
He said that although low tax rates ...
Tuesday, 03 November 2009
UK tax expert warns of 'uncertain' future
Chas Roy-Chowdhury, head of taxation at the Association of Chartered Certified Accountants (ACCA), was warned that significant tax increases could be just around the corner.
Speaking at the recent Tax and Estate Planning Conference in London, Mr Roy-Chowdhury said that the government may be tempted to increase VAT to 19 per ...
Monday, 02 November 2009
IMA calls for tax reform to help savers
The Investment Management Association (IMA) has made a pre-Budget submission to the chancellor calling for several changes to the current tax regime.
Outlining its agenda for reform, the IMA said that it would like to see annual increases in the Isa limit to ensure it reflects inflation, as well as the ...
Monday, 02 November 2009
HMRC makes YouTube appeal over offshore accounts
HM Revenue & Customs (HMRC) is using social media to encourage people to declare offshore bank accounts.
A two-minute video in which Dave Hartnett, HMRC’s permanent secretary for tax, warns people about the dangers of tax dodging has been posted on YouTube.
Mr Hartnett urges people with offshore interests to come forward ...
Friday, 30 October 2009
Government under fire as US exits recession
The VAT cut introduced by the government has proved to be a ’meaningless’ failure, according to the Liberal Democrat shadow chancellor.
Vince Cable made the comment following the release of figures showing that the US economy saw growth of 3.5 per cent in the last quarter.
With data for the UK revealing ...
Friday, 30 October 2009
Decline in funding forces north-west charity to close
Play Raffles - a charity based in Carlisle - has been forced to close after failing to raise enough funds.
According to the Cumberland News, the organisation needs £70,000 per year to survive, but has not been able to secure the cash in the last 12 months due to a decline ...
Thursday, 29 October 2009
Managed futures 'thrive on market volatility'
Managed futures could offer investors the opportunity to hedge their portfolios during economic turmoil, one expert has claimed.
This type of venture uses a computer-driven trading model to bet on increasing or decreasing prices of future contracts, with David Darst of Morgan Stanley describing them as ’financial Tylenol’, the New ...
Thursday, 29 October 2009
Double dip recession is a possibility, says economist
The UK could experience a ’double dip recession’ if the Bank of England discontinues quantitative easing measures, one specialist has claimed.
Senior economist at the Institute of Public Policy Research Tony Dolphin explained that Britain is not yet out of the downturn and so withdrawing this support could therefore be ...
Thursday, 29 October 2009
Investors 'moving away from riskier equities'
Recent positive activity in the equities market has not stopped many professionals looking for less risky investments, according to one expert.
Market strategist at City Index Joshua Raymond noted that industry specialists are not convinced that a 50 per cent equity rally in the sector is enough.
He remarked ...
Wednesday, 28 October 2009
British people 'moving from pensions to Isas'
An increasing number of people in the UK aged over 50 are looking to put their money in Individual Savings Accounts (Isas) rather than pension funds, one expert has claimed.
Director at financial advice website Fool.co.uk David Kuo noted that the move may have been facilitated by the amount of ...
Wednesday, 28 October 2009
Professional investors are regaining confidence, says expert
Optimism in the investor market is beginning to return, one specialist has claimed.
Adrian Lowcock, senior adviser for the industry at Bestinvest.co.uk, noted that while confidence has not returned to the levels seen leading up to 2007, a positive attitude is beginning to come back.
He remarked: ’Confidence increasing is a ...
Friday, 23 October 2009
Figures show 'recession continues' in Q3
Official figures announced today by the Office for National Statistics have indicated that the UK remains in recession.
Gross domestic product (GDP) in the UK fell by 0.4 per cent between the months of July and September, representing the sixth quarter in a row where the economy has contracted.
But the BBC ...
Friday, 23 October 2009
Emerging markets 'attractive for investment'
Because economic growth in emerging markets ’typically outpaces’ that of the developed world, they represent an important investment opportunity, according to a fund manager at BlackRock.
Daniel Tubbs of the firm’s global emerging markets team noted that compared to the 38 per cent economic growth for G7 countries since 1992, emerging ...
Friday, 23 October 2009
Small business owners urged to seek help for estate planning
Small business owners of the ’baby boomer’ generation should make careful preparations for their retirement, according to a finance author.
Investor and business consultant Eric R Voth - who is the author of How To Sell your Privately Owned Company: A Basic Guide for Independent Business Owners, Baby Boomer’s Edition - ...
Thursday, 22 October 2009
New book puts spotlight on contemporary art investments
A new book aimed at people seeking alternative investment opportunities in the global art market is set for release next month.
Published by McGraw-Hill, the latest version of Skate’s Art Investment Handbook seeS Russian financier Sergey Skaterschikov make a number of predictions about the art market.
In the book, subtitled The Comprehensive ...
Wednesday, 21 October 2009
Over-50s 'feeling positive about investments'
A significant number of older investors with savings feel optimistic about their future prospects on the stockmarket, new research has indicated.
Figures published by Fidelity International show that 54 per cent of over-50s with more than £10,000 put away in Isas now have a positive outlook on stocks and shares.
According to ...
Wednesday, 21 October 2009
Bank governor speaks to Scottish businesses
Mervyn King believes that the UK will face ’two fundamental long-run challenges’ as the economic recovery begins to take shape.
Speaking to Scottish business organisations in Edinburgh on Tuesday (October 20th), the governor of the Bank of England said that rebalancing the economy and reforming the banking sector are the two ...
Tuesday, 20 October 2009
Scottish businesses are beating recession, survey indicates
A new report has suggested that small firms in Scotland are coping better with the recession than companies based elsewhere in the UK.
According to the BT Business Pulse survey, 56 per cent of the country’s small and medium-sized enterprises have not seen their turnover decline since the economic downturn, compared ...
Tuesday, 20 October 2009
UK economy 'waiting on world trade'
The UK’s economic recovery will not gain momentum until other markets around the world begin to stabilise, a new report has stated.
According to the Ernst & Young ITEM Club’s autumn forecast, British GDP will struggle to reach growth of one per cent next year as the economy continues to emerge ...
Monday, 19 October 2009
EU fund directive questioned by AIC
The Association of Investment Companies (AIC) has claimed that the European Union’s (EU) plan to reform the hedge fund and private equity industries will increase costs and reduce commercial flexibility in these sectors.
Ian Sayers, the AIC’s acting director general, said that the Alternative Investment Fund Managers (AIFM) Directive would be ...
Monday, 19 October 2009
Commercial property 'offers investment opportunities'
Investing in commercial property could offer some ’interesting opportunities’ for people who are willing to take a long-term view, it has been claimed.
Andrew Pitts, editor of Money Observer, said that commercial property investment vehicles can be a good option for those who are sure of their objectives and timeframe.
He also ...
Friday, 16 October 2009
UK debt 'not worse than other European nations'
Problems surrounding the UK’s budget deficit are no worse than those facing other European countries, the British Chambers of Commerce (BCC) has claimed.
David Kern, economic advisor at the BCC, said that Britain will meet significant challenges as it attempts to recover from the recession but insisted that these are ’not ...
Thursday, 15 October 2009
EU directive 'will cost hedge funds over £1bn'
A report commissioned by the Financial Services Authority (FSA) has revealed that new European Union (EU) regulations could leave hedge funds worse off by more than €1.4 billion (£1.2 billion) a year.
The Alternative Investment Fund Management Directive has already attracted fierce criticism from some corners of the financial services industry ...
Wednesday, 14 October 2009
Shell pension fund plans expansion with alternative investments
The Shell UK pension plan is likely to place five per cent of its assets in alternatives following a strategic review of its investment strategy.
A recent newsletter to members of the £10.6 billion contributory pension fund, which is one of the UK’s largest pension plans, revealed that five per cent ...
Tuesday, 13 October 2009
Equity release 'set to go mainstream'
Changing attitudes and an ageing population will see equity release become a major part of the retirement planning sector in the next few years, it has been claimed.
Andrea Rozario, director general of Safe Home Income Plans (Ship), said that interest in equity release as a method of providing for ...
Monday, 12 October 2009
Investors 'considering ethical options'
A growing number of high net worth individuals are considering green or ethical investment vehicles, it has been claimed.
Penny Shepherd, chief executive of the sustainable investment and finance association UKSIF, said that more investors want to make a difference with their money.
She made her comments after research firm EIRIS revealed ...
Friday, 09 October 2009
Interest rates 'won't move next year'
The Bank of England is unlikely to increase its base rate of interest from 0.5 per cent in 2010, the Centre for Economic and Business Research (CEBR) has claimed.
As expected, the Bank’s Monetary Policy Committee announced that interest rates would remain at 0.5 per cent for the seventh month in ...
Friday, 09 October 2009
Hedge fund reform plans criticised
The European Union’s plan to overhaul the regulation of hedge funds and private equity managers is unworkable, the Committee of European Securities Regulators (CESR) has claimed.
Under the Alternative Investment Fund Managers (AIFM) directive, managers of alternative investment funds would be required to register, submit data on their operations and limit ...
Wednesday, 07 October 2009
Scotland's finance sector 'still world class'
Scotland is currently re-establishing its reputation as a globally-respected location in the corporate banking and wealth management sectors, it has been claimed.
According to the Independent, Scotland’s main financial centres have largely managed to retain their status in the banking industry, despite the high-profile problems of the Royal Bank of Scotland.
Although ...
Wednesday, 07 October 2009
Banking industry 'must learn lessons'
HSBC chairman Stephen Green has said that the global banking industry has a responsibility to learn from the events of the financial crisis.
Speaking to the BBC’s World Business Report, he claimed that the entire sector ’owes the real world an apology’ and will have to radically change its culture to ...
Monday, 05 October 2009
FSA unveils plan for new liquidity rules
New rules designed to tighten up the UK finance industry by introducing stricter liquidity tests for banks have been unveiled by the Financial Services Authority (FSA).
Banks will be given several years to comply with the new regulations, which state that only government-issued bonds will satisfy the regulator’s liquidity test.
Paul Sharma, ...
Monday, 05 October 2009
Private investors 'targeting new markets'
A new report from Barclays has indicated that emerging markets have become increasingly popular with UK-based private investors in 2009.
The publication states that exchange-traded funds (ETFs) are often the investment vehicle of choice for people entering such markets, with Brazil and China currently receiving the most exposure.
According to Barclays, ETF ...
Friday, 02 October 2009
Don't discount equity investments, says adviser
With the FTSE 100 enjoying its strongest quarterly performance in 25 years, a financial expert has urged people to consider equity investments once more.
The FTSE 100 reached 5,134 on Wednesday (September 30th), closing at 20.8 per cent above the July 1st opening figure of 4,249 after the global economy began ...
Wednesday, 30 September 2009
Share donations 'can help to support charities'
Donating shares to charity can be an effective way for people to give money to good causes, according to an expert in the sector.
Speaking to the Independent, chief executive of the Charities Aid Foundation (CAF) John Low said that many people are unaware that they can potentially boost a charity’s ...
Wednesday, 30 September 2009
Weak pound 'hurting foreign property owners'
The fall in the value of sterling is causing major problems for British people who own property overseas or spend a lot of time abroad, a currency expert has claimed.
Reaching a five-month low against the euro last week, the pound has now declined in value by 26 per cent since ...
Wednesday, 30 September 2009
Player image rights 'could be tax loophole'
A number of professional sports clubs are being investigated amid concerns that they may be using player image rights as a means of evading tax, it has been reported.
With a significant proportion of clubs now paying players a percentage of their salaries for image rights, HM Revenue and Customs ...
Wednesday, 30 September 2009
Leeds business park set to boost investment levels
As well as creating hundreds of new jobs, a new business park set for Leeds will serve to boost levels of inward investment, it has been claimed.
With owner CalEast Global Logistics having been granted planning permission by Leeds City Council, the Hawks Park site is due to be transformed ...
Wednesday, 30 September 2009
FTSE 100 enjoys strongest ever quarter
The FTSE 100 index has posted the strongest quarterly performance in its 25-year history, gaining 21 per cent between July and September.
After starting July 1st at 4,249.1 points, the index of leading shares closed at 5,133.9 points today (September 30th) in a rally that has added £217 billion to the ...
Wednesday, 30 September 2009
IMF report points to global economic recovery
A new report from the International Monetary Fund (IMF) has suggested that the global financial system is well on the way to recovery.
Published today (September 30th), the latest edition of the semi-annual Global Financial Stability Report claims that policy actions and a faster-than-expected growth in the world economy have strengthened ...
Tuesday, 29 September 2009
Brown calls for 'morals' in financial markets
Gordon Brown has used his keynote speech at the Labour conference in Brighton to call for a new era of ’morals’ in banking and finance.
The prime minister pledged to get tough on senior figures who show negligence in their running of banks, as well as intervening over the distribution of ...
Tuesday, 29 September 2009
Fall in donations 'hitting small charities harder'
The recent decline in charitable giving is likely to have more of an impact on smaller non-profit organisations, it has been claimed.
Deputy director of Kidscape Peter Bradley said that large charities will often be able to withstand a significant drop in
charity investing due to government funding, whereas ...
Tuesday, 29 September 2009
Strong ISA performance encouraging, says IMA
New data from the Investment Management Association (IMA) indicates that renewed consumer confidence is boosting the fund management industry.
The organisation’s investment fund statistics for August 2009 show that net retail sales totalled £2.2 billion, the highest figure on record for that month, while ISAs continued to perform well.
According to the ...
Monday, 28 September 2009
Failed retirement age challenge 'a blow to working people'
A ruling by the High Court which saw a challenge to the UK’s default retirement age rejected has been described by the Trades Union Congress (TUC) as ’a blow’ to people who - for whatever reason - would like to work as they get older.
Brendan Barber, general secretary of the ...
Monday, 28 September 2009
Investors 'staying away from stock market'
Investors are shying away from putting their money into the stock market due to a lack of confidence in the likelihood of seeing a return.
This is according to new research conducted by Prudential, which shows that one in four savers in the UK - or 11.9 million individuals - are ...
Friday, 25 September 2009
Tax payments 'set to increase for charities'
Charities face having to pay new tax bills that could run into tens of millions of pounds as a result of new VAT rules come into force in 2010, it has been suggested.
The Charity Tax Group (CTG) noted that new European regulations that are set to be rolled out on ...
Friday, 25 September 2009
British charities 'setting an example to the world'
The UK’s charitable organisations are the envy of the rest of the world, minister for the third sector Angela Smith told an awards ceremony in London last night (September 24th).
She told guests at the Third Sector Excellence Awards that British charities set an example to organisations in other countries in ...
Friday, 25 September 2009
Bank of England 'favours weak pound'
The pound fell to a five-month low against the euro on Thursday (September 24th) following Mervyn King’s claims that a weak currency could be good for the UK economy.
In a recent interview with the Journal newspaper, the Bank of England governor suggested a significant fall in sterling would help the ...
Thursday, 24 September 2009
Over 50s 'stepping up ISA investments'
About one million people over the age of 50 will top up their stocks and shares this year under the government’s new ISA rules, according to a new report.
Research from Legal & General states that investments in the stocks and shares ISAs market from the over-50 age group will total ...
Thursday, 24 September 2009
Alternative investment market tipped for growth
An industry expert has said that alternative investments are set to become a significant asset class to support the ageing population.
Speaking at the Financial Services Authority’s (FSA) recent Asset Manangement Sector conference, Todd Groome explained that more people living in the UK will soon have to ’look after themselves in ...
Wednesday, 23 September 2009
Foreign investment decline 'unsurprising'
Recent data showing a slump in foreign investment in the UK is not a major cause for concern, according to the British Chambers of Commerce (BCC).
A report from the UN Conference on Trade and Development revealed that Britain was hit particularly hard by the global recession in terms of inward ...
Tuesday, 22 September 2009
ADB predicts faster growth in Asian markets
The Asian Development Bank (ADB) has revised its growth forecasts for the region, stating that certain economies will expand by more than previously thought this year.
According to the ADB, the Chinese economy is set to record growth of 8.2 per cent in 2009, up from an initial estimate of seven ...
Monday, 21 September 2009
New withholding tax proposed by Swiss banks
Banking institutions from Switzerland - which manage 27 per cent of the world’s
private wealth - have called for a withholding tax on earnings generated by foreign affluence.
The Swiss Bankers Association (SBA) made the suggestion, which, it claims, goes further than current European Union (EU) legislation.
It ...
Monday, 21 September 2009
UK economy 'hit by foreign investment slump'
A new report has revealed that foreign investments in the UK suffered last year as a result of the economic downturn.
The study, conducted by the UN Conference on Trade and Development (UNCATD), demonstrated that the UK was one of the worst affected countries in the world in this regard.
...
Monday, 21 September 2009
EU leaders agree on bankers' bonus deal
Leaders in the European Union (EU) have come to an agreement over bankers’ bonuses.
Throughout meetings in Brussels, the politicians decided to work towards a global concord that would seek to significantly reduce or completely cancel the incentives used by institutions, including private banks.
A deal will be struck at ...
Thursday, 17 September 2009
Bank of England reveals 'steady' inflation expectations
The latest survey from the Bank of England has revealed that the British public think the rate of inflation will remain steady at 2.4 per cent over the coming year.
This is unchanged from the response given by the British public back in May.
It was also revealed that when people were ...
Thursday, 17 September 2009
Europe more wealthy than North America, says report
A new report on global wealth management indicates that Europe has supplanted North America as the world’s richest region.
The Boston Consulting Group’s study found that global wealth dropped by 11.7 per cent due to the economic crisis, but the decline in net assets in North America was significantly greater than ...
Thursday, 17 September 2009
Jersey praised by IMF for financial compliance
A new report from the International Monetary Fund (IMF) has commended Jersey for its compliance with financial regulations.
The IMF’s study, which is sure to be welcomed by those using offshore banking in the Channel Island, states that supervision of the financial sector in Jersey is of a ’high standard’.
In addition, ...
Wednesday, 16 September 2009
'Economic relapse' predicted for 2010
An analyst has claimed that investors expecting to see unchecked economic growth next year could be disappointed.
Tim Drayson, economist at Legal & General Investment Management, said that the encouraging results of recent business surveys may paint an inaccurate picture of the global economy.
He urged investors to be cautious about their ...
Tuesday, 15 September 2009
Property 'still a popular investment choice'
A new report from Scottish Widows reveals that many British people still believe property provides better returns than other investments.
The study found that 45 per cent of people living in the UK would rather invest their money in property than anything else, although the impact of the economic downturn does ...
Monday, 14 September 2009
Eurozone 'emerging from recession'
A new report from the European Commission has declared that the eurozone economy is at a ’turning point’ and beginning to emerge from the recession.
The commission predicted overall growth of 0.2 per cent for the third quarter of 2009, although it has not revised its earlier forecast that the economy ...
Friday, 11 September 2009
Shop price deflation 'worrying'
A personal finance expert has said that falls in prices of retail goods are cause for worry ’in the context’ of the goings-on in the wider economy.
David Kuo of Fool.co.uk said that such a decline suggests that the Bank of England’s quantitative easing programme is not working.
The comments come in ...
Thursday, 10 September 2009
Base rate kept at 0.5%
The Bank of England has voted to keep its benchmark interest rate at the historic low of 0.5 per cent.
This is the sixth consecutive month the Bank’s Monetary Policy Committee (MPC) has voted to keep the rate at this level.
In addition, the Bank voted to continue with its £175 billion ...
Wednesday, 09 September 2009
Cautious investors push gold above $1,000
Gold prices moved to $1,000.75 an ounce this morning on investor concerns about inflation.
The metal, which is often used as a hedge against sharp price rises, last passed this barrier in March 2009.
Gold has also benefitted from the ’flight to safety’ caused by the credit crunch and economic downturn.
Consumers nervous ...
Wednesday, 09 September 2009
'Death costs' rise to above £7,000
Britons have been urged to make improvements to their estate planning, following the release of a new survey.
Sun Life Direct revealed today that the typical ’cost of dying’ faced by individuals in the UK comes to £7,098.
This total includes funeral costs of £2,733.
Moreover, the firm said that ...
Tuesday, 08 September 2009
Bank of England predicted to maintain quantitative easing
The Bank of England is unlikely to increase its quantitative easing programme this month, according to a financial expert.
Michael Baxter, economist at Defaqto, also said that he believes interest rates will be held by the Monetary Policy Committee (MPC) at 0.5 per cent for August.
The Bank has imposed radical policy ...
Tuesday, 08 September 2009
Stock trading on the up
Equity trading rose in August, data from the London Stock Exchange Group have indicated.
According to the organisation, the number of electronic trades made across its order books hit 785,000 over the month.
The typical daily value of these transactions hit £6.2 billion - 11 per cent up on the ...
Monday, 07 September 2009
Economic recovery 'to be better than expected'
Britain’s economy will grow more strongly in 2010 than previously predicted, a leading business group has said.
The British Chambers of Commerce (BCC) forecast an expansion of 1.1 per cent for the year, up from the previous prediction of 0.6 per cent.
Maximum unemployment levels were also trimmed, with the jobless total ...
Monday, 07 September 2009
Football transfers 'defy credit crunch'
Law firms have been busy helping with image rights deals in the Premier League transfer window, new figures show.
Brabners Chaffe Street worked on around 30 separate moves over the period including the £80 million deal which saw Manchester United star Cristiano Ronaldo move to Real Madrid, the Lawyer reported.
...
Friday, 04 September 2009
Defaqto calls for calm over 'green shoots' hopes
The end of the recession in the UK economy will not mean a return to impressive rates of growth, a Defaqto expert said today.
According to economist Michael Baxter, the current ’exuberance’ surrounding reports of green shoots of recovery is giving people a false impression.
Britain has been in recession since late ...
Friday, 04 September 2009
Global Forum strikes agreement on international tax avoidance
A meeting of the Global Forum on Transparency and Exchange of Information has agreed to take steps to improve tax policies around the world.
The forum, encompassing around 84 member states, agreed to create a Peer Review Group to supervise national tax frameworks and to enforce the new standards developed by ...
Thursday, 03 September 2009
IMA expresses concerns on OTC derivatives plans
The UK’s Investment Management Association (IMA) has responded to new European Commission plans relating to over the counter (OTC) derivatives.
Under the proposals, contracts for the derivatives would be subject to a greater degree of central standardisation.
Tighter controls might also be imposed on the clearing of trades and the outstanding position ...
Thursday, 03 September 2009
Service sector expansion 'signals return to economic growth'
The service sector in the UK is expanding once more, figures from the Chartered Institute of Purchasing and Supply showed today.
In August, the index rose from 53.2 to 51.1.
As well as representing positive growth in the sector - with 50 indicating a neutral level - the monthly rise pushes the ...
Wednesday, 02 September 2009
New financial apprentices backed by government scheme
The Scottish Government has unveiled a new plan to provide traineeships in the nation’s financial services sector.
A total of 460 positions are to be created, contributing towards the 7,800 apprenticeships provided by a new £16 million scheme covering all sectors of the economy.
The apprenticeships also reflect the contribution made by ...
Wednesday, 02 September 2009
OECD tracks deflation risk around the world
UK inflation rates are out of kilter with equivalent indices in other major economies, new analysis from the Organisation for Economic Co-operation and Development (OECD) has confirmed.
The organisation compared the Consumer Price Index (CPI) - a standard measure of annual price rises - over the year to July for countries ...
Tuesday, 01 September 2009
IMA announces sector changes
The UK Zeros sector is to be shut at the end of the month, the Investment Management Association (IMA) has announced.
All funds currently classified in this way will then be moved into the IMA Specialist sector and marked appropriately.
The IMA had conducted a review of the matter through a Performance ...
Tuesday, 01 September 2009
Brown calls for changes to banker pay
A more sustainable bonus system should be put in place at banks going forward, Gordon Brown has said.
In a wide-ranging new interview with the Financial Times, the prime minister also said that financial firms could be forced to hold more cash on their balance sheets in order to better protect ...
Tuesday, 01 September 2009
ACA survey looks into workplace retirement solutions
Many British
private wealth management customers remain concerned about how they will save for retirement, new figures indicate.
A report from the Association of Consulting Actuaries (ACA) shows that workers are worried about their pensions, as companies continue to close their defined benefit schemes to new members.
The analysis found ...
Friday, 28 August 2009
UK economy "bottoming out"
Growth in the UK economy will return in the third quarter of this year as the worst of the recession appears to be at an end, experts have said.
The Centre for Economics and Business Research (CEBR) said that there have been ’record rises’ in confidence in recent months and that ...
Thursday, 27 August 2009
Ethical investments 'struggling'
Volatile conditions in the stock market have had a negative impact on ethical investment funds, with such securities being worst-affected by the recession.
Investment Life & Pensions Moneyfacts analysed the performance of ethical funds, other investment products and the FTSE 100 over the last ten years.
Results revealed that over different investment ...
Wednesday, 26 August 2009
Cambridge business group plans 'world-class' seminars
An innovative seminar and lecture is being planned by not-for-profit group the Cambridge Leaders Academy (CLA).
Professor Gareth Jones, an author of leadership books, is to conduct an interactive meeting with local business people at the headquarters of Red Gate Software in the city.
The session will function as a taster as ...
Wednesday, 26 August 2009
Pound falls on UK economy and bank policy fears
The pound weakened against the euro and the dollar yesterday, with investors showing concern over the UK economy and Bank of England policy.
Sterling had dropped to $1.631 against the greenback and a three-month low of €1.140 against the euro by this morning.
Analysing the trends, forex specialists Caxton FX suggested that ...
Wednesday, 26 August 2009
New tax warning for offshore assets
People planning to continue hiding offshore assets from the authorities can expect an increased risk of prosecution, a representative of HM Revenue & Customs (HMRC) has suggested.
Dave Hartnett, permanent secretary for tax at the organisation, issued the warning ahead of the beginning of the New Disclosure Opportunity (NDO) on September ...
Tuesday, 25 August 2009
Manchester tower 'could go ahead'
Work on what will be Europe’s tallest residential building, the Piccadilly Tower in Manchester, could begin again thanks to a new investment push by its developers.
Irish property company Ballymore had started the development of the building, though funding difficulties brought about as a result of the economic downturn meant ...
Tuesday, 25 August 2009
Housing market 'improving'
The UK housing market has started to stabilise over the past few months, though the rising unemployment rate across the country is likely to hamper its growth for some time yet.
That is according to housebuilder Bovis, which has reported that it has see marked improvements in the residential property ...
Tuesday, 25 August 2009
Britain's service sector continues to improve, CBI reports
Confidence levels among businesses operating in Britain’s service industry hit their highest levels since the end of 2007 in the second quarter of this year, it has been revealed.
Research carried out by the Confederation of British Industry (CBI) for its latest Service Sector Survey found that this increase in ...
Monday, 24 August 2009
UK 'coming out of recession'
Levels of confidence in the UK economy have risen significantly over recent months, a new report from the Institute of Chartered Accountants has revealed.
Following on from the figure of -28.2 recorded at the close of the first quarter of the year, the professional body has reported that its index ...
Monday, 24 August 2009
UK, Singapore sign new tax avoidance protocol
Britain has reached a new agreement with Singapore regarding the exchange of information relating to taxation matters.
With Britain currently being the largest foreign investor in the Asian city-state and with 80 per cent of Singapore’s EU investments going into the UK, both parties cited excellent financial relations as a ...
Monday, 24 August 2009
'Confidence returning' to Leeds investors
Commercial property experts have expressed their belief that confidence is returning to the Leeds economy after a major new sale in the city.
Following on from several months of relative quiet in the Yorkshire city’s commercial property sector, it has now been confirmed that the Mortec Office Park has been ...
Friday, 21 August 2009
Mortgage warning issued over future rate rises
Private bank customers with large mortgages should brace themselves for sharp interest rate increases as the economy improves.
This is the view of a financial expert from specialist website Fool.co.uk, which released new analysis on the mortgage market today.
The Bank of England has held rates at an all-time low ...
Friday, 21 August 2009
Government finances 'worse than expected'
The government went much further into the red than had been expected over July.
According to new official figures, deficits rose by £8 billion over the month - where analysts had previously expected an increase of £500 million.
July is usually a surplus month for the public balance sheet, with corporation tax ...
Thursday, 20 August 2009
Positive signs for property in new report
Further signs of ’green shoots’ of recovery in the UK economy were seen today, with the release of a new report from the Council of Mortgage Lenders (CML).
According to the industry group, gross mortgage lending rose to £16 billion in July, a monthly increase of 26 per cent and the ...
Thursday, 20 August 2009
Investors given new guidance by FSA
The Financial Services Authority (FSA) has offered investors an update on how Sir Clive Walker’s recent review on corporate governance will impact on activist shareholders.
According to a new letter sent by the regulator to UK trade associations, current rules on the issue will not be affected by the report’s recommendations.
Earlier ...
Wednesday, 19 August 2009
Business North West 'set for success'
An event aimed at boosting the performances of businesses in the Manchester area seems set to be a success, organisers have said.
Business North West will be held in the city over October 28th-29th and is likely to be ten per cent bigger than 2008’s show, the Manchester Evening News reported.
Nationwide ...
Wednesday, 19 August 2009
Capital Economics predicts further CPI falls
The UK is still at risk of falling into deflation, despite the latest Consumer Price Index (CPI) results.
This is the view of a Capital Economics expert, who delivered her comments in the wake of new official inflation figures.
According to the July data, annual price rises have held steady, ...
Wednesday, 19 August 2009
Calculis not surprised by inheritance tax payments reform
The upcoming change in the interest rates paid by families on late inheritance tax payments is not a surprise, a top financial advisory service said today.
Calculis was reacting to news that HM Revenue & Customs (HMRC) is to charge interest of three per cent for people who do not ...
Tuesday, 18 August 2009
Inflation holds steady in surprise result
The Consumer Prices Index (CPI) showed no change for July, remaining at the previous month’s level of 1.8 per cent.
Meanwhile, official figures also showed that the Retail Prices Index (RPI), another inflation measure which includes property prices, came in from -1.6 to -1.4 per cent.
The results are likely to come ...
Tuesday, 18 August 2009
Economy "lagging behind" as debts mount
The UK economy is facing tough times over the months to come as deficits increase.
According to new analysis from Caxton FX, Britain is ’lagging behind’ other countries as the government faces the high costs of the credit crunch.
Official forecasts suggest that £175 billion will be added to the deficit in ...
Monday, 17 August 2009
Weaker pound 'helping UK economy'
Britain’s economy stands to benefit from the weakening of sterling on the currency markets, a professor at the London School of Economics has said.
Professor Iain Begg pointed out that the trend would lead to more people taking a holiday in the UK this summer, providing an economic boost as a ...
Monday, 17 August 2009
HMRC defends inheritance tax "streamlining"
Tax payments for
private wealth management customers could be affected by recent changes from HM Revenue & Customs (HMRC).
The UK tax authority has modified the rate of interest charged both for late customer payments of inheritance tax - and for the rate at which it pays back inheritance ...
Friday, 14 August 2009
Young urged to begin retirement planning
Britons should start planning for their retirement as early as possible, a top financial planner has suggested.
Keith Churchouse, director of Churchouse Financial Planning, said today that under-30s can make a ’huge difference’ to their retirement income by putting aside as little as £20 per month.
The comments come in the wake ...
Friday, 14 August 2009
New high for FTSE as economies return to growth
The FTSE 100 rose to its highest level of 2009 yesterday, on further good economic news from around the world.
Surprise increases in second quarter GDP for France and Germany buoyed investor sentiment, sending the London stock index to 4755.5 at the close.
Investors bought shares again this morning, sending the FTSE ...
Friday, 14 August 2009
"Upper bracket" art events boom in UK
Attendance at high-end art events is staying strong in the recession, with confident consumers still willing to splash out for tickets.
The recent weakening of sterling against the euro and the dollar has also led to swelling numbers of foreign visitors to the Royal Opera House, Glyndebourne, the Royal Court and ...
Thursday, 13 August 2009
Manchester MBA courses excel in global report
Business schools in the north-west have registered impressive results in new worldwide rankings.
Forbes has announced that Manchester Business School offers the second-best MBA course outside of the US.
Nearby Lancaster University Management School (LUMS) came seventh in the rankings.
MBAs are commonly undertaken by both recent graduates and by workers who want ...
Thursday, 13 August 2009
Leeds-based pilot to benefit brokers
A new pilot scheme aimed at boosting the skills of UK insurance brokers has been announced for London and Leeds.
Local financial services professionals are to benefit from government-backed courses offering assistance in matters including leadership, sales and business planning and strategy.
In turn, this could provide increases in turnover, boosting the ...
Wednesday, 12 August 2009
Jackson image rights decision awaited
Deals relating to Michael Jackson’s image rights are hanging in the balance, pending a decision from a judge in the US.
Contracts for merchandising deals relating to the entertainer, who died at the age of 50 in June, have been submitted by AEG Live and part of the Universal Music Group.
If ...
Tuesday, 11 August 2009
Ethical investors 'still loyal to their funds'
Overall sales of ethical investment funds appeared to be positive during the second quarter of 2009, a new report has concluded.
A poll of its members carried out by the UK Sustainable Investments and Finance association (UKSIF) found that a majority had seen continued interest in ethical funds over the ...
Tuesday, 11 August 2009
UK economy could experience 'lost decade', economist warns
The UK economy could dip down again at the start of 2010 after enjoying a brief bounce later this year, a leading economist has warned.
Speaking ahead of the publication of the latest economic forecasts from the Bank of England, Sushil Wadhwani has warned that the prospects for the domestic ...
Tuesday, 11 August 2009
Legacies provide £1.9bn 'lifeline' for UK charities
Medical charities are benefiting from an ongoing increase in money left through legacies, it has been revealed.
According to new figures compiled by Cass Business School, charitable donations made through wills total around £1.9 billion a year, with health-related organisations particularly benefiting from donations of this manner.
The study found ...
Monday, 10 August 2009
Tories deny VAT rate hike plans
The shadow health secretary has moved to reassure businesses and consumers that the Conservative Party has no intention of implementing a VAT rate hike should it get into power at the next election.
Speculation that the opposition could move to push the rate of VAT up to 20 per cent ...
Monday, 10 August 2009
Lack of full-time positions 'worsening unemployment'
The number of Britons losing out as employers move to slash their wage bills is much higher than previously believed, newly-published figures show.
While the Office for National Statistics (ONS) recently reported that unemployment across the UK grew by 281,000 to 2.38 million over the first quarter of the year, ...
Monday, 10 August 2009
'Risk-driven bonus' return warning
Bank bosses have been warned against using the prospect of bonuses to encourage workers to take unnecessary risks with investors’ money.
Speaking ahead of the upcoming publication of a new set of guidelines on pay and bonuses within the banking industry, the head of the Financial Services Authority (FSA), Hector ...
Friday, 07 August 2009
Peel Holdings signals Salford commitment
Salford retains the potential to drive regional growth with many regeneration projects in the pipeline, a local business boss has confirmed.
Speaking to the Salford Advertiser, Peel Holdings managing director Andrew Simpson said that the improvements would be of long-term benefit to the area and would help to build prosperity.
The property ...
Friday, 07 August 2009
Analysis sees property decline as 'comparatively insignificant'
Recent declines in the property market have been put into perspective by a financial expert today.
Simon Rettie, managing director at specialist agency Rettie & Co, said that more ’significant’ losses had been felt in other asset classes in the recent downturn.
The property sector has been hit hard by the credit ...
Friday, 07 August 2009
Charities 'putting ethical investment policies in place'
Investment policies for the majority of charities now reflect ethical concerns, a new survey has confirmed.
The Charity Finance Directors’ Group (CFDG) and the Ethical Investment Research Service (EIRIS) analysed policies at 164 separate not-for-profit firms.
They found that six in ten of those charities which had investment holdings running into the ...
Thursday, 06 August 2009
Bank imposes increase to quantitative easing
The Bank of England has decided to increase its quantitative easing scheme from £125 billion to £175 billion, in a surprise move announced today.
Analysts had previously predicted that policymakers would increase its money-printing programme by £25 billion, if at all.
However, the Bank said in comments accompanying the announcement that the ...
Thursday, 06 August 2009
Defaqto economist upbeat on UK prospects
Britain’s economy is likely to ’pull out of recession’ soon, a top financial research firm has said.
The Defaqto expert made the comments following the release of new figures suggesting improving conditions in several sectors of the economy.
CIPS/Markit data for manufacturing showed positive growth for the first time this year, while ...
Thursday, 06 August 2009
Inheritance tax planning advice offered
Major new advice on inheritance tax planning was issued today by Equity Partners.
The financial adviser pointed out that the issue of ’gifting’ - where a property-owning parent gives financial support to one of their property-buying children - can have complex tax implications.
Moving money out of an estate is a commonly-used ...
Wednesday, 05 August 2009
Currency hedges advised for gold investors
Ongoing fluctuations in the world’s financial markets are offsetting any gains made in gold investments, it has been reported.
According to newly-compiled statistics from the Daily Telegraph, the London gold price fix has risen by 2.2 per cent over the past six months from $920 to $939.
However, over the ...
Wednesday, 05 August 2009
UK economy boosted by manufacturing sector upturn
Britain’s manufacturing sector experienced its first period of expansion for more than a year over the month of July, a new study has revealed.
Adding weight to claims that the worst could be over for the UK economy, the Chartered Institute of Purchasing and Supply (CIPS) said that the level ...
Wednesday, 05 August 2009
FSA 'considering high-frequency trading regulations'
The Financial Services Authority (FSA) is considering passing stricter regulations on the new generation of high-frequency trading firms after recent concerns from UK equity market observers.
Just last week, one US politician called on the Securities and Exchange Commission to ban ’flash-trading’.
The senator argued that the practice of using complex ...
Tuesday, 04 August 2009
Quantitative easing 'likely to be extended'
An economist has predicted that the Bank of England will increase its quantitative easing programme next week.
Vicky Redwood of Capital Economics said that the Bank’s Monetary Policy Committee (MPC) will probably announce an additional investment of £25 billion.
Quantitative easing, which is the modern-day equivalent of printing money, was introduced in ...
Tuesday, 04 August 2009
Barclays profit boosts pound against dollar
Profits at Barclays have been cited as the leading reason for the pound to hit a ten-month high against the dollar.
The bank reported an eight per cent rise in half-year profits yesterday (Monday, August 3rd), which also led to the FTSE 100 reaching levels not seen since October 2008.
Sterling rose ...
Monday, 03 August 2009
Capital Economics calls for increase in bank lending
Lending from private banks and other institutions is likely to prove a key driver of economic recovery from the current downturn, Capital Economics said today.
Vicky Redwood, economist at the organisation, suggested that GDP growth would remain ’sluggish’ following the recession, if credit flows do not improve from their current level.
The ...
Monday, 03 August 2009
'Joined up' planning system to benefit Scottish business
New measures aimed at improving the efficiency of the planning system in Scotland have been introduced by the government.
A range of changes, including the devolving of decisions over many smaller developments to local rather than central authorities, have been included in the package.
The Scottish government expressed the hope that the ...
Monday, 03 August 2009
Bank shares popular among investors
Britain’s
private banking services clients and other investors remain positive about financial stocks, it has been revealed.
Research from Fool.co.uk shows that 64 per cent believe that shares in banks are ’good buys’, while just 24 per cent think the opposite.
Over recent months the stocks had suffered losses in ...
Friday, 31 July 2009
Markets rise to new 2009 highs
The FTSE 100 neared a new 2009 high yesterday, as strong business earnings announcements buoyed stocks around the world.
A two per cent rise on the day saw the London index close at 4,632, its highest level since early January.
The FTSE had been trading at 3,500 as recently as ...
Friday, 31 July 2009
WeightWatchers-style investment advice mooted
Female
private banking clients in danger of making bad investment decisions might in future take part in a WeightWatchers-style scheme to promote financial responsibility.
A new report from the Chartered Insurance Institute (CII) suggests that the financial services industry should develop a model ’financial health plan’ run along ...
Wednesday, 29 July 2009
Record second quarter sales for investment funds
Sales of investment funds remained strong in June, new industry figures reveal.
The Investment Management Association (IMA) said that £533 million of inflows for the £ Corporate Bond sector were experienced in June, along with £44 million for foreign-domiciled funds.
This helped to contribute to the second quarter providing the highest net ...
Wednesday, 29 July 2009
HMRC issues new warning on tax
People who have yet to disclose taxable assets held overseas have been warned by HM Revenue & Customs (HMRC).
The tax authority said yesterday that only those who made what they termed a ’complete and accurate’ disclosure would receive the ten per cent tax penalty.
This means that they will be charged ...
Tuesday, 28 July 2009
Image rights 'no problem' in Dossena deal
Wages might prove a bigger issue than image rights in the potential move of Liverpool FC defender Andrea Dossena back to Italy, the player’s agent has hinted.
Recent reports have linked the player with a move to Serie A stalwarts Napoli in a multi-million deal.
The player’s agent Federico Pastorello ...
Tuesday, 28 July 2009
Charitable giving receives a boost
Charity donations remain strong in recession-hit Britain, with
private bank customers and other donors using the web to give money.
The UK Cards Association said yesterday that overall donations from plastic cards hit £1.19 billion last year, 18 per cent up from 2007.
This is despite the economy ...
Monday, 27 July 2009
Electronics firms in Cambridge benefit from "design culture"
Cambridge-based electronics firms are in ’good shape’ despite the present adverse economic conditions, it has been suggested.
Design consultancy firms in the city, including Cambridge Consultants, Sagentia, Plextek and Cambridge Design Partnership are doing well in the downturn, New Electronics reports.
As a whole, UK industry has been hit hard by the ...
Monday, 27 July 2009
Swine flu 'could damage economic recovery'
The swine flu pandemic is to be discussed by business leaders and doctors in a live web seminar today.
Organised by the British Chambers of Commerce (BCC), heavy hitters including Dr Laurence Buckman, chairman of the GPs’ committee at the British Medical Association, are to participate in the summit.
The government recently ...
Friday, 24 July 2009
Private equity takeovers in Leeds "positive"
Leeds could see more private equity deals next year in line with an improvement to the economy, it has been suggested.
An expert at accountancy firm Grant Thornton believes that greater access to debt funding will lead to a rise in takeovers, the Yorkshire Post reports.
Will Oxley, who runs ...
Friday, 24 July 2009
West Midlands 'to benefit from broadband boost'
Birmingham businesses stand to benefit from BT’s plans to upgrade local broadband networks.
The West Midlands Business Council said that regional efficiency could be improved by the move, the Birmingham Post reports.
Connection speeds would be boosted for 110,000 companies and homes in the West Midlands region under the proposals.
...
Friday, 24 July 2009
Business leaders call on Bank to free up more money
Business leaders have called on the Bank of England to inject more liquidity into the UK credit markets so as to enable the national economy to bounce back from its current slump.
Following on from the publication of the minutes from the latest meeting of the Bank of England’s monetary policy ...
Friday, 24 July 2009
Investor confidence returning, new hedge fund figures show
Confidence levels among the world’s investors are beginning to bounce back, newly-published figures suggest.
Despite the relatively high levels of pessimism surrounding some aspects of the world economy, new statistics released by the US-based Hedge Fund Research (HFR) show that the value of assets under management within this investment sector rose ...
Wednesday, 22 July 2009
Government 'should encourage private investment in green energy'
The government has been urged to do more to make the renewable energy sector an attractive proposition for private investment.
With ministers having repeatedly pledged their commitment to green energy projects such as wind and wave farms over recent months, some analysts have pointed out that a massive injection of ...
Wednesday, 22 July 2009
UK economy 'unlikely to recover to pre-recession levels before 2014'
The UK economy is unlikely to fully recover from the current recession until 2014, a new report from the National Institute of Economic and Social Research (NIESR) has warned.
According to the latest predictions from the think tank, total UK GDP is set to continue to fall, taking the total ...
Tuesday, 21 July 2009
London wine retailer 'doing well'
A north London-based wine retailer has successfully brought in investment worth £1 million in order to fund its planned expansion across the capital.
The Sampler, which operates out of the Borough of Islington, plans to open new branches in the lucrative South Kensington and Notting Hill markets later this year. ...
Monday, 20 July 2009
Accountants call for more "sustainability"
Europe’s banks must remake themselves in the wake of the financial crisis, so that they embed a culture of ’sustainability in business practice’.
This is the view of the European Federation of Accountants (FEE), which has released a new policy statement on the issue.
The report also placed some of the blame ...
Monday, 20 July 2009
Mido 'locked in image rights dispute'
Footballer Mido believes that he is still owed image rights cash from his club, it has been claimed.
The Egyptian striker is still locked in dispute with Middlesbrough, the team he left in January for a six-month loan with Wigan Athletic, the News of the World reports.
Mido, 25, was signed by ...
Friday, 17 July 2009
Wills 'need to be a higher priority'
Estate planning needs to become a higher priority for
private banking customers of all ages, new analysis suggested today.
The Co-operative said that public ’misconception’ still shrouds the process of making a will - which is often more complex than many think.
Singletons and divorced people were cited as groups ...
Friday, 17 July 2009
Expert decries 'Cabernet bubble'
An expert claims to have identified the new ’Wall Street-like bubble’ affecting investors.
Keith Wallace, a founder of the Wine School of Philadelphia, claimed that Cabernet Sauvignon reds are now as overpriced as shares were in pre-crash 1929 and 2007.
Writing for the Daily Beast, he said that current prices were currently ...
Friday, 17 July 2009
Legacy donations to charities 'will fall'
The economic downturn has impacted on charitable donations made in
private bank customer’s wills, it has been claimed.
Spiro Va’os, area manager for membership at the Royal Society for the Protection of Birds (RSPB), said today that people’s budgets had been squeezed by the downturn and that charities were ...
Wednesday, 15 July 2009
Minister hopeful on EU fund reforms
British officials are confident that they can make changes to new EU proposals for hedge funds and other investment companies.
City minister Lord Myners told a House of Lords committee that the UK was ’gaining traction’ in preventing the plans from imposing overly tough regulations on the funds.
Investment professionals have previously ...
Wednesday, 15 July 2009
Birmingham 'plans City of Culture bid'
Birmingham could bid to become Britain’s first national City of Culture.
Marketing Birmingham, the publicly-funded organisation in charge of boosting the city’s image to overseas investors, is currently deciding whether or not to go for the award, the Birmingham Post reports.
The government has set up the City of Culture competition in ...
Tuesday, 14 July 2009
IMA calls for change in UK banking regulations
The
private banking wealth management sector remains strong despite the financial crisis, an industry group has said.
According to the Investment Management Association (IMA), a stable tax environment and sensible regulations will keep the UK attractive for investors over the long term.
However, asset managers polled by the group also ...
Tuesday, 14 July 2009
North-west consumers 'well prepared for recession'
Careful consumers in the north-west are taking greater financial care in the recession than people in other regions.
This is the main finding of a new survey from Yorkshire Bank, which found that seven in ten people living in the area had ’changed their lifestyles’ as a result of the crisis.
Around ...
Monday, 13 July 2009
Tax haven property markets 'thriving'
The property markets in offshore tax havens such as the Isle of Man and the Channel Islands are thriving, according to a new report.
Research by advisory firm Sovereign Group found that property prices in areas like Monaco and Gibraltar are performing well, while nearby locations in the south of France ...
Monday, 13 July 2009
UKFI has "no fixed timetable"
UK Financial Investments (UKFI), the company set up by the government to manage its stake in RBS and Lloyds, has ’no fixed timetable’ to re-privatise the banks.
The firm made the claim as it released its first annual report and strategy for returning the institutions to the market.
Despite the lack of ...
Friday, 10 July 2009
Poor Chevron report hits European equities
Equities were down in Europe this morning by between 0.5 and one per cent in the early session, with the City Index blaming a poor interim update from Chevron for impacting the figures.
Chevron had warned that its second-quarter earnings may be affected by a large fall in US refining margins, ...
Friday, 10 July 2009
Banks set for league tables
The City watchdog is intending to create league tables ranking the best and the worst of the UK’s financial services providers.
Proposals unveiled yesterday by the Financial Services Authority (FSA) will see complaints statistics on banks and insurance providers published for public viewing.
Five key areas will be covered in the tables, ...
Thursday, 09 July 2009
Investors seeing price growth for art and antiques
Art and antiques offer a ’safe haven’ for investors, the Royal Institution of Chartered Surveyors (Rics) claimed today.
According to the organisation, prices have consistently trended upwards for these investments - in stark contrast to the turmoil in stocks, bonds and commodities that has been observed over recent months.
Equities investments have ...
Thursday, 09 July 2009
Bank of England announces no change to rates
Interest rates are to remain at 0.5 per cent for another month, the Bank of England’s Monetary Policy Committee (MPC) said today.
The decision to keep the institution’s lending rate at its all-time low reflects policymakers’ concerns over continued tight lending conditions from UK banks.
Continuing fallout from the financial crisis has ...
Wednesday, 08 July 2009
London Stock Exchange highlights dip in trades
Equity trades transacted by the London Stock Exchange Group dipped slightly in June, new figures have revealed.
According to the organisation, which covers the London Stock Exchange and the Borsa Italiana in Milan, around 19.6 million trades to a value of £6.9 million were made last month.
This is an eight per ...
Wednesday, 08 July 2009
Funds 'part of the solution' to crisis
Tough EU plans to regulate
private wealth management companies have been met with a hostile response from the investment industry.
Robert Jenkins, chairman of the Investment Management Association (IMA), suggested that the European politicians who drafted the proposals show little understanding of the financial crisis.
A raft of tough measures ...
Wednesday, 08 July 2009
New charity calls for more sustainable banking
Britain’s banks must work harder to promote sustainable lending and business growth plans, a new financial charity has said.
FairBanking has issued a report suggesting ways in which
private wealth management and other financial firms can improve the wellbeing of their customers.
These recommendations include imposing tighter controls on offering ...
Tuesday, 07 July 2009
Glasgow to get branch of sustainable bank
A new sustainable banking project is being set up in one of the UK’s most deprived districts.
Residents of Sighthill in Glasgow are to be given the chance to use micro-finance
charity banking services from the Grameen Bank, the BBC reports.
Set up by Nobel peace prize winner Muhammad Yunus ...
Tuesday, 07 July 2009
London commercial property 'might recover'
The London commercial property market could be on the road to recovery, an expert indicated today.
According to Michael Aglony, marketing manager at Mortgages for Business, the market is ’starting to open up’ following the credit crunch-induced downturn.
The comments follow the release of a survey from Cushman and Wakefield, which showed ...
Monday, 06 July 2009
Leeds dinner brings together planners
The Personal Finance Society (PFS) has inaugurated a series of informal networking opportunities with a dinner in Leeds.
A total of 24 chartered financial planners attended the event - and discussed issues currently facing the industry.
Direction for the talks was provided by the Personal Accounts Delivery Authority’s Paul Gilbody, the guest ...
Monday, 06 July 2009
Expert flags up inflation risk for wealthy
Britain’s
private banking services customers have yet to recognise the risks posed by inflation, a financial expert has suggested.
Jason Butler, certified financial planner for Bloomsbury Financial Planning, said today that around a third of clients and investors had ’no clue’ about the threat.
The comments follow the release of ...
Monday, 06 July 2009
Diamonds are not forever
While the economic crisis presents challenges for the luxury goods category as a whole, diamonds are uniquely positioned to emerge strongly from this short-term uncertainty and create valuable investment opportunities. Diamonds, traditionally a store of wealth and the currency of love, are piercing the economic gloom with their message of enduring values.
Monday, 06 July 2009
FSA combines divisions in restructuring
An internal restructuring at the Financial Services Authority (FSA) is almost complete, the organisation’s chief executive confirmed yesterday.
The City watchdog is streamlining its operations in the wake of the credit crunch, so that it can perform more effective regulation of banks and the financial markets.
In order to achieve that goal, ...
Monday, 06 July 2009
Markets fall as unemployment rises
Stock markets have retreated sharply on a bigger-than-expected rise in US job losses.
Just under 470,000 more people were out of work in the world’s biggest economy over June, around 100,000 in excess of analysts’ expectations.
The news, coupled with a rise in eurozone unemployment to a ten-year high, sent the FTSE ...
Thursday, 02 July 2009
New funding for Leeds business sector announced
Leeds businesses stand to gain a big global boost, following the announcement of £2.4 million of new funding for promoting the city worldwide.
Yorkshire Forward is to give the extra money to help firmly establish the business hub as a major centre for financial services and other professions, the Yorkshire Evening ...
Thursday, 02 July 2009
PMI strengthens in June
The Purchasing Managers’ Index (PMI) rose from 45.4 in May to 47.0 in June, according to new official figures.
Hopes that the UK economy is on the road to recovery will have been strengthened by the news - although analysts were quick to point to the fact that output remains weak.
Actual ...
Wednesday, 01 July 2009
Nobody should be 'too big to fail', Bank deputy says
A deputy at the Bank of England has called for increased controls in the UK banking sector.
Paul Tucker, deputy governor for financial stability, said that no bank should be ’too big to fail’ and that improved measures promoting the ’orderly wind down’ of failing financial firms should be implemented.
Among these ...
Wednesday, 01 July 2009
OECD tracks inflation rates
Inflation rates are comparatively higher in Britain than in other developed countries, the Organisation for Economic Co-operation and Development (OECD) has said.
Analysis of various consumer price indices for May have shown the UK near the top of the pile, as other economies slide closer to deflation conditions.
The OECD pointed out ...
Wednesday, 01 July 2009
Manchester meeting brings together listed firms
The head of the London Stock Exchange Group headed to Manchester yesterday in order to check out local businesses.
Xavier Rolet met with senior executives from the city’s AIM-listed biotech firm Epistem, Leeds-based Straight plc, Rochdale’s Vindon Healthcare and Sheffield’s Zoo Digital.
The trip reflects the nationwide reach of the AIM index, ...
Tuesday, 30 June 2009
Brown signals future financial regulations
Future plans for
private banking services regulation in the UK were unveiled yesterday by the prime minister.
Gordon Brown promised a ’more diverse’ financial services sector, in the wake of the credit crunch and economic downturn.
The proposals also affirmed the place of the Financial Services Authority (FSA) as the ...
Monday, 29 June 2009
CBI sees improved private banking services business
Private banking services are becoming more likely to experience increased business volumes, an upbeat new report from the Confederation of British Industry (CBI) has suggested.
According to the study, over the second quarter of 2009 28 per cent more financial firms saw a decline, rather than a rise, in ...
Monday, 29 June 2009
Agent signals hope for high-end property
Private bank clients and other high-end buyers are coming back into the property market, analysis released today suggests.
Hirch Way & Ambler indicated that the top end of the market was showing ’distinct signs of improvement’, following its credit crunch-induced downturn.
The independent estate agent’s director also said that the ...
Friday, 26 June 2009
Offshore banking 'could increase in future'
The Walker review could damage the UK financial services sector over the long term, the Investment Management Association (IMA) has suggested.
In its response to the ongoing independent report, the group indicated that banks could move businesses offshore if the regulatory framework was toughened up to too great an extent.
Sir David ...
Friday, 26 June 2009
Banks sound warning on tough adviser proposals
The private banking industry has welcomed the publication of the latest update to the Retail Distribution Review (RDR).
According to the British Bankers’ Association (BBA), the proposals from the Financial Services Authority (FSA) that advisers must achieve stricter professional qualifications standards in future will be beneficial.
The group also said that the ...
Thursday, 25 June 2009
Offshore disclosure initiative a good idea, tax group says
The latest HM Revenue & Customs (HMRC) initiative to encourage offshore
best private banking clients to declare income has been welcomed by a key industry group.
According to the Chartered Institute of Taxation (CIOT), the scheme is attractively structured to encourage large numbers of people to confess.
HMRC is launching ...
Thursday, 25 June 2009
Director calls for 'bread and butter' banking
Private banking services need to be retooled over the months to come, a financial expert has said.
Anna Sofat, director of ADDIDI Wealth, said that she wanted to see financial firms become more of a ’bread and butter business’ in the wake of the financial crisis and called for ...
Wednesday, 24 June 2009
Edinburgh businesses fight for prize
Four Edinburgh-based firms are among the five finalists for a prestigious business prize.
Business Stream, MediaCom Scotland, Petroleum Experts and Selex Galileo will all be competing for the Grant Thornton Business of the Year Award at the National Business Awards for Scotland, scheduled to take place tonight (June 24th).
The shortlist is ...
Wednesday, 24 June 2009
Moody's reassures investors on US debt
The US government’s triple-A credit rating is secure for now, but the situation could change in the future, according to Moody’s Investors Service.
Both the USA and the UK have borrowed huge amounts in an effort to stave off the worst of the financial crisis, leading to concerns that their triple-A ...
Tuesday, 23 June 2009
Big drop in stock markets follows World Bank news
Stock markets suffered a sharp sell-off yesterday, as the World Bank radically downgraded its economic forecasts.
The organisation said that global GDP would drop by 2.9 per cent this year, far worse than its previous prediction of 1.7 per cent.
Investors sold shares on the news, leading to the FTSE 100 dropping ...
Tuesday, 23 June 2009
Commercial property 'close to bottom'
The commercial property market might be stabilising after months of decline, the head of Hammerson has said.
According to John Richards, rent delinquencies and mortgage defaults would stay low over the next few months.
In an interview with Bloomberg, the chief executive said that he was also planning to restart Leeds development ...
Monday, 22 June 2009
Sea change in investment habits predicted
Low-cost index trackers are likely to become more and more en vogue among
private wealth management clients, it has been suggested.
Writing in Investment Adviser, Defaqto consultant Fraser Donaldson indicated that recent market volatility was resulting in customers becoming less likely to put their money into actively managed funds.
The ...
Monday, 22 June 2009
Tripartite system 'needs improving'
A professor of economics at Cass Business School called today for a radical shake-up of the tripartite system.
Geoffrey Wood said that the way the financial markets are currently regulated is causing confusion between the Treasury, the Bank of England and the Financial Services Authority.
This view chimes with a recent report ...
Saturday, 20 June 2009
Tourism boosted by weaker pound
The recent weakening of sterling on the currency markets appears to be attracting more overseas visitors to the UK.
According to the Office for National Statistics (ONS), the number of tourists and other travellers rose to 7.6 million over the three months to April 2009.
This is three per cent more than ...
Saturday, 20 June 2009
Regulatory crackdown 'must not go too far'
Responsible
private banking practices will not be brought about by the draconian separation of high street bank and investment bank operations, the Investment Management Association (IMA) has said.
In a new report, the organisation indicated that a policy move such as the Glass-Steagall act, introduced in the US in ...
Thursday, 18 June 2009
Housing expert predicts a "Nike swoosh" recovery
The MP for housing and planning has predicted that the UK will have a ’swoosh-shaped’ recovery from the economic downturn.
In a speech at a Harrogate conference, John Healey suggested that the sharp credit crunch-driven downturn in output would be replaced by a slow, steady rise.
He said that this fall then ...
Thursday, 18 June 2009
Possible EU reforms slammed by investment expert
Future European regulation of funds should not be based on national politics, the head of the Investment Management Association (IMA) has said.
Richard Saunders signalled concern that the EU could cause damage in cracking down on hedge funds - and suggested that they were being blamed for the financial crisis and ...
Wednesday, 17 June 2009
Investors 'concerned about inflation'
Quantitative easing programmes launched by central banks are driving
private banking wealth management clients to increase their gold and commodities exposure.
A new report from Interactive Investor suggests rising popularity for gold funds, with investors attempting to hedge against the increased inflation rates caused by the ’money-printing’ schemes.
Inflation figures ...
Tuesday, 16 June 2009
Channel Islands firms praised by AIC
Investment firms based in offshore business centres such as Jersey and Guernsey are contributing to the UK economy, according to an industry group.
The Association of Investment Companies (AIC) said that management fees originating from Channel Islands-based financial firms came to around £300 million a year.
Meanwhile, growth in the offshore closed ...
Tuesday, 16 June 2009
Strong sales at Art Basel
Fine art is one investment sector that is bearing up well in the downturn, latest trends suggest.
The special preview show for Art Basel took place in Switzerland this week and was a marked success, the Financial Times reports.
On the first day of sales, evidence emerged that the top end of ...
Monday, 15 June 2009
High praise for Guernsey from funds expert
Offshore banking wealth management in Guernsey is facing potentially wide-ranging regulatory changes, an expert has said.
Christopher Gambrell, managing director of financial services group Praxis, also suggested that fund managers could become increasingly attracted to Guernsey in future.
Tighter financial regulation of private wealth management in the wake of the credit crunch ...
Monday, 15 June 2009
UK set for recovery, Krugman hints
Britain is the best-placed of Europe’s large economies to recover from the recession, Paul Krugman has said.
The winner of the Nobel prize for economics in 2008 said that the UK has a strong competitive advantage due in part to government actions to tackle the financial crisis, the Observer reports.
Last October, ...
Monday, 15 June 2009
Currency volatility 'can be used to firms' advantage'
Britain’s corporations must get smart to protect themselves against currency fluctuations, an expert in the sector has claimed.
Rupert Lee Brown, chief executive of Caxton FX, said that the recent sterling volatility could prove to be good news for some firms if they handle their investments carefully.
The pound has fallen from ...
Friday, 12 June 2009
Warning on stocks from expert
Private wealth management clients were advised today to exercise caution over equities investments.
Adrian Lowcock at Bestinvest said that there remained significant downside risks to stocks - and added that he preferred corporate bonds at the moment.
The comments follow a sharp rise in global markets, which was itself caused ...
Friday, 12 June 2009
West Bromwich building society in debt-for-equity swap
The West Bromwich building society is to boost its capital ratios after racking up a big annual loss.
A debt-for-equity swap will see bonds switched to Profit Participating Deferred Shares (PPDS), increasing the firm’s Tier 1 capital ratio from 6.8 to 11.6 per cent.
Reports suggest that the Treasury has been trying ...
Friday, 12 June 2009
Pound hits 2009 high
The pound has staged a strong comeback on the markets this week, on increasing political stability and further reports of ’green shoots’ of economic recovery in the UK.
An apparent resolution to the turmoil that plagued Gordon Brown’s premiership on the back of poor election results pushed sterling to just over ...
Thursday, 11 June 2009
Britain's recession 'over already'
The UK could have already ended its economic downturn, according to Defaqto.
An economist at the financial research firm said today that it was ’pretty clear’ that output had bottomed out - but refused to rule out a further slump occurring in the near future.
The global credit crunch officially pushed Britain ...
Thursday, 11 June 2009
Leeds businesses work together in recession
Savvy firms in Leeds are defying the downturn through networking, new figures suggest.
Referral company the Business Network International (BNI) recently called together a working breakfast of Yorkshire-based firms in the city this week and is experiencing high levels of interest for its services, the Yorkshire Evening Post reports.
The organisation works ...
Wednesday, 10 June 2009
Luxury market buoyant as Hermes buys croc farms
Demand for high-end goods from
private banking services clients and other wealthy individuals is keeping business booming at Hermes.
The legendary French fashion house - famed for its coveted £5,000 Birkin handbag - is in such demand from customers that it is breeding crocodiles on special farms Australia in ...
Wednesday, 10 June 2009
Private bank customer confidence rises
Confidence among
private banking customers and other investors is on the up, buoyed by recent gains on stock markets around the world.
New data from the Investment Management Association (IMA) shows the firm’s Confidence Index hitting 106 for May 2009.
This is comfortably above the ’neutral’ level of 100 - ...
Tuesday, 09 June 2009
Offshore private banking affected by HMRC move
A new initiative affecting some
private bank customers who have offshore holdings have been unveiled by HM Revenue & Customs (HMRC).
The tax authority has indicated that people who declare accounts that they have not previously disclosed will be obliged to pay a levy of ten per cent of ...
Monday, 08 June 2009
Pound falls on political uncertainty in UK
A poll conducted by a currency firm indicates that the economic outlook for the UK would improve with the resignation of prime minister Gordon Brown.
Caxton FX conducted the survey of clients, which revealed that 47 per cent saw a brighter future without Mr Brown, prior to last night’s European election ...
Monday, 08 June 2009
Funds pass organisation's health-check
The Investment Management Association (IMA) has released an updated report on the financial health of UK-based investment funds.
Private banking wealth management customers were assured by the group that authorised funds remain ’generally robust’, despite the extraordinary market pressures of recent months.
According to the IMA, just seven out of ...
Monday, 08 June 2009
Experts analyse 'volatile' ethical funds
Social responsibility investment funds are facing tough times but remain popular with customers, experts have said.
Ethical investments continue to attract inflows from investors despite the credit crisis and economic downturn - and this trend looks unlikely to reverse soon, the Observer reports.
The F&C Stewardship fund, the UK’s first ...
Friday, 05 June 2009
Jersey ranks high as haven for "mobile wealthy"
Offshore private banking centre Jersey has scored high marks in a new standard of living index.
Business strategy advisor Scorpio Partnership ranked the island sixth on its worldwide list, which gauged the attractiveness of living in various popular financial districts for the ’international mobile wealthy individual’.
This means ...
Friday, 05 June 2009
ippr criticises "messy" financial regulation system
Potential future reforms of the UK’s tripartite financial regulation system are still up in the air, an influential think tank said today.
Tony Dolphin, senior economist at The Institute for Public Policy Research (ippr), said that the present system was a ’bit messy’ and added that it had ’failed’ to ...
Thursday, 04 June 2009
Bank of England holds rates
The Bank of England held interest rates today for the third month in a row.
Policymakers also decided against further expanding the institution’s £125 billion ’money-printing’ quantitative easing programme.
The lending rate has been held at 0.5 per cent - an all-time low in the Bank’s 300-year history - since March.
Quantitative easing ...
Thursday, 04 June 2009
Importance of social investing rises
Socially responsible investing is important for many workplace pension fund trustees, it has been revealed.
The UK Sustainable Investment and Finance (UKSIF) association said in a new report out yesterday that two in three believe that the Responsible Investment policy of their scheme should tie in with their firm’s ...
Tuesday, 02 June 2009
Economist warns of vulnerable sterling, gilts
The possibility of a collapse in sterling due to concerns over the UK’s debts was raised by the Centre for Economic and Business Research (cebr) today.
An economist at the organisation said that the question of foreign investors’ confidence in Britain was key - and that both the pound and government ...
Monday, 01 June 2009
OECD tax meeting calls for international effort
Tax collection practices across Organisation of Economic Co-operation and Development (OECD) countries are to be improved, a new communique from the Paris-based group has stated.
The agreement follows a meeting of tax commissioners from 34 OECD and non-OECD members, which took place in the city late last week.
Interaction between tax authorities, ...
Monday, 01 June 2009
Stability in markets draws longer-term investors
Financial markets are becoming less volatile as stocks rally, it has been suggested.
The latest statistics from Interactive Investor suggest that daily retail volumes have fallen by 40 per cent over the past month.
Meanwhile, fund volumes were found by the firm to have tracked an increase over the past week.
...
Monday, 01 June 2009
Absolute Return sector "healthy", IMA says
One of the more closely-watched sectors for cautious
private bank customers who want to invest money is ’healthy and growing’, a report has shown.
The Investment Management Association (IMA) has released a new report analysing the Absolute Return sector- funds which offer some form of guaranteed return to investors, ...
Friday, 29 May 2009
Fund sales boom as markets rise
UK investment fund sales enjoyed a strong April, with
private banking services customers piling back into the market.
Overall ISA inflows hit £671 million for the month, well up on April 2008’s £466 million according to the Investment Management Association (IMA).
Stock markets have been rising since March, with the ...
Friday, 29 May 2009
Sales fall again in shops
Retail sales have registered another decline this month, suggesting that ’green shoots’ of economic recovery remain sparse.
The Confederation of British Industry (CBI), a business group, said in its new Distributive Trades Survey that 48 per cent of retailers have experienced falling sales in May.
Meanwhile, just 31 per cent said that ...
Friday, 29 May 2009
Swiss watch exports figures signal falling luxury spending
A new sign that luxury spending is on the wane has come with the release of latest industry figures from Swiss watch firms.
Overall exports for the sector were found to have registered a year-on-year decline of 26.3 per cent in April.
This equates to 500,000 fewer watches, the Federation of the ...
Thursday, 28 May 2009
Millionaire headcount much depleted by crunch
The number of high-net worth individuals in the UK has diminished markedly over the past two years, as the deflationary effects of the credit crunch reduce asset prices.
Properties, stock holdings and bonuses have all been depleted since 2007, meaning that the number of millionaires in the country has halved.
According to ...
Thursday, 28 May 2009
Divi research tips defensive stocks
Private banking clients who want ’solid dividends’ on their investments are facing a diminished pool of stock picks, The Share Centre has indicated.
According to analysis from experts at the firm, large energy providers and drug companies both have good prospects of maintaining their dividends going forward.
Blue-chip companies tipped ...
Wednesday, 27 May 2009
Fund managers 'increase personal stock exposure'
A survey of investment experts released by a UK bank yesterday has suggested that the bottom of the markets might already have been passed.
In all, 135 UK-based fund managers were quizzed on what they had in their personal portfolios by Lloyds TSB over the course of its research.
The bank found ...
Wednesday, 27 May 2009
Small Cap sector 'offers opportunities'
Many stocks in the UK Smaller Companies category could prove worth buying by
private banking clients and other investors over the months to come.
This is the consensus reached by a fund manager ’round table’, brought together by the Association of Investment Companies (AIC).
Some of the experts agreed that ...
Wednesday, 27 May 2009
"Easing" construction decline noted by Rics
New hopeful signs that the economic downturn might have troughed have been highlighted by surveyors.
The latest construction market survey from the Royal Institution of Chartered Surveyors (Rics) showed a continuing weakening in overall workloads - but also showed that the rate of this decline was alleviating.
According to the poll, 45 ...
Tuesday, 26 May 2009
Big bank stocks both 'most bought' and 'most sold'
Volatile bank stocks remain the most highly-traded among UK investors, including
offshore private banking clients.
According to Interactive Investor, Lloyds RBS and Barclays were the ’most bought’ stocks over the past week - as markets continued to trend upwards from March’s lows.
However, other private investors were also revealed to ...
Tuesday, 26 May 2009
British banks wary on extra cost of US clients
Onerous obligations on tax currently proposed by US lawmakers could lead to private banks and other financial firms refusing to take on American customers.
The plans, backed by president Barack Obama, would lead to banks in Britain facing higher costs for collecting taxes for the clients, the Daily Telegraph reports.
Under the ...
Tuesday, 26 May 2009
Fund managers upbeat ahead of Euro elections
A new poll has been released in the run-up to the European elections by the Association of Investment Companies (AIC).
The study indicated that there are significant eurozone opportunities for
private banking customers, engendered by the recent recovery in stock markets.
However, the elections themselves, which take place in June, ...
Friday, 22 May 2009
Warning from expert as investors pile into gold
Ultra-cautious investors have been warned about moving all their holdings into gold.
Analysis from Bloomsbury Financial Planning noted today that ’putting all your eggs in one basket’ might not prove the best strategy over the long term.
The precious metal - whose intrinsic value insulates it from wild market fluctuations - has ...
Friday, 22 May 2009
USA 'could lose AAA rating'
The US could lose its coveted AAA credit rating, the manager of the world’s largest bond fund has warned.
Bill Gross said that the public balance sheet of the world’s largest economy remained weak, meaning that its government could become less credit-worthy in future.
The comments follow yesterday’s announcement from Standard & ...
Friday, 22 May 2009
LIBOR joins Twitter revolution
LIBOR has been given its very own Twitter feed.
The inter-bank rate is now updated each day on the newly-popular micro-blogging site, giving investors and
private banking customers a convenient access point.
LIBOR, set each day by the British Bankers’ Association (BBA), is seen as a key indicator of credit ...
Thursday, 21 May 2009
S&P fires warning shot on UK rating
The UK’s AAA credit rating outlook has been set to ’negative’ by Standard & Poor’s (S&P).
According to the ratings agency, the large government debts set to be built up due to the financial crisis and economic downturn could lead to a future downgrade.
In a report, S&P indicated that public spending ...
Wednesday, 20 May 2009
Multi-Manager funds 'facing changing times'
Multi-Manager investment funds offered by
private wealth managers and other firms might face major changes in future, according to latest Defaqto research.
The study, from principal consultant for investments Fraser Donaldson, suggests that there could be a general move away from actively managed funds to cash and other investment ...
Wednesday, 20 May 2009
Investment strategies weighed up by AIC
Investors are currently facing a dilemma over whether or not to ’drip feed’ money into the markets, major new research has shown.
The Association of Investment Companies (AIC), which released the analysis yesterday, said that returns varied over time depending on whether or not money was put in as a lump ...
Wednesday, 20 May 2009
FSA calls on banks to show 'proper control environment'
The Financial Services Authority (FSA) has announced that it will fine a US investment bank - and said that other financial firms must show proper controls of traders.
Morgan Stanley faces a sanction of £1.4 million for ’failings’ in its systems, which resulted in the bank making a £70 million negative ...
Tuesday, 19 May 2009
New deflation fears sparked by official figures
Both the Consumer Price Index (CPI) and the Retail Price Index (RPI) registered significant year-on-year falls in April, the Office of National Statistics (ONS) confirmed today.
The government’s preferred inflation benchmark dropped from 2.9 to 2.3 per cent over the month, as the recession took its toll on demand for goods ...
Tuesday, 19 May 2009
Equifax sees consumer "cautiousness" over spending
Consumer behaviour is trending away from credit cards towards more responsible forms of spending, Equifax claimed today.
According to the credit reports firm, latest payments figures have signalled a new ’cautiousness’ in consumers, whose confidence has been hit hard by the financial crisis.
Apacs said earlier this week that a small fall ...
Tuesday, 19 May 2009
Investors signal renewed hope in India
The results of the Indian elections have led to a market surge in the Asian nation, with foreign investors including those from the UK upping their exposure to stocks.
Sensex, the main index on the Bombay Stock Exchange, shot up by 17 per cent on Monday following the news that the ...
Monday, 18 May 2009
Sants calls for new regulatory system
A fundamental change to the structure of the regulatory system for private banks and other financial services firms has found support from the head of the City watchdog.
Hector Sants, chief executive of the Financial Services Authority (FSA), said that a ’strengthening’ of the Bank of England’s powers was needed.
He added ...
Monday, 18 May 2009
Agents report increased home sales
Hopes that the housing market might be turning the corner will have been raised by a new report from the National Association of Estate Agents (NAEA), out today.
A survey of members indicates that more homes were sold last month than any month since October 2007.
The credit crunch and general downturn ...
Monday, 18 May 2009
Strauss-Kahn cautious on recovery prospects
The world economy has a long way to go before it mounts a sustained recovery.
IMF head Dominique Strauss-Kahn delivered this gloomy message in a speech in Austria late last week - saying that ’further tests’ are ahead due to the credit crunch.
However, Mr Strauss-Kahn also praised the policy response to ...
Thursday, 14 May 2009
Cash CTFs 'outperform stakeholder options'
Cash Child Trust Funds (CTFs) offer greater returns than stakeholder options, according to new analysis.
Stakeholder CTFs outperformed cash options in the first two years after the accounts were introduced, figures from Moneyfacts show.
However, cash CTFs have remained constant and are now worth 24.2 per cent more than the average opening ...
Thursday, 14 May 2009
IMA defends shorting
Short selling is essential to the success of the investment sector, one industry organisation has argued.
The Investment Management Association (IMA) has defended the practice, suggesting that it can help to boost returns.
Any benefits associated with the tactic could be reduced if wider market disclosure is enforced, the organisation said.
Market disclosure ...
Wednesday, 13 May 2009
Bank of England releases bleak Inflation Report
The Consumer Price Index (CPI) is likely to fall below its two per cent target in 2009, the Bank of England said today.
According to the new quarterly Inflation Report, the economic downturn is likely to pull CPI down, with the index bottoming out at 0.5 per cent towards the end ...
Wednesday, 13 May 2009
Commissions data released following poll of professionals
A new dealing commissions matrix has been released for investors and investment professionals.
The data incorporates a survey of professionals from the Information Providers User Group, which asked them what they used money from client commissions for.
According to the matrix, fewer than 25 per cent of firms use the commissions for ...
Tuesday, 12 May 2009
Parents add to Child Trust Funds
A third of Child Trust Funds (CTFs) receive regular contributions from parents, new figures have revealed.
Statistics from The Children’s Mutual show that 22 per cent of all CTFs receive regular deposits via direct debt.
The average sum passed through The Children’s Mutual by parents currently stands at £24, while grandparents make ...
Tuesday, 12 May 2009
US rated best location for fund investors
The US has been highlighted as the best place for fund investors following new analysis from Morningstar.
America received an A rating in the recent evaluation of 16 different countries. In contrast, New Zealand and Spain gained the lowest rating of D, while the UK was rated C+ alongside Switzerland.
The rating ...
Monday, 11 May 2009
Confidence returns to oil
Investors are confident of gaining returns from backing oil, according to new research.
Figures from Barclays Stockbrokers suggest that 62 per cent of investors would choose oil based on a belief that the commodity will increase in price.
A further 13 per cent say portfolio diversification is the key reason for investing ...
Monday, 11 May 2009
Investors 'upbeat on equities'
UK investors continue to favour equity funds, but still remain cautious, new industry figures suggest.
The Investment Management Association (IMA) has suggested that investors in the UK favour equities more than their European counterparts.
Net outflows from equity funds stood at one per cent in the UK at the end of last ...
Friday, 08 May 2009
FTSE scrubs out 2009 retreat
The FTSE 100 has now almost retraced its 2009 losses, with the general rally in global equity markets appearing to gather steam.
At the very beginning of the year, the index stood at 4438 - but then dropped to a low of just over 3512 in early March due to a ...
Friday, 08 May 2009
Ethical funds record impressive performance
Strong inflows in ethical funds have been noted in latest industry statistics.
According to new first quarter data from the Investment Management Association (IMA), net sales of £378 million were noted among UK fund providers, including
private wealth management services, over the three-month period.
Ethical funds accounted for £45 million ...
Wednesday, 06 May 2009
Investors shocked by fine wine verdict
Some investors and
private wealth management firms stand to win big on fine wine - following an unexpected verdict on last year’s Bordeaux vintage by one of the most respected critics in the world.
Robert Parker, whose judgement is widely recognised as having the power to move markets, has ...
Wednesday, 06 May 2009
NIESR sounds dire debt warning
The UK government faces hard policy choices over years to come due to the large deficits in the public balance sheet built up in the credit crunch, a hard-hitting new report stated today.
According to experts at the National Institute for Economic and Social Research (NIESR), ministers could be forced to ...
Wednesday, 06 May 2009
Industry figures suggest fall in investor redemptions
Redemptions on equities ISAs have fallen - as private bank investors wait and see if the stock markets are on the road to recovery.
This is the main finding from new analysis from Bestinvest, a financial website.
An expert from the site pointed out the fact that, in recent figures from the ...
Tuesday, 05 May 2009
NIESR doubtful over usefulness of 'consumer confidence' survey
Major new analysis of consumer confidence in the UK was released today.
The National Institute of Economic and Social Research (NIESR) issued the comments, in the wake of a new survey from GfK NOP.
According to the new monthly index, morale rose by three points to -27 in April.
This suggests that optimism ...
Tuesday, 05 May 2009
Advisers unsure over new property investment proposals
Financial professionals are deeply divided over whether or not struggling homeowners should sell their properties on to investment funds.
Real estate specialists Reita conducted a poll of advisers with the help of NMG last month - and found that 39 per cent believed clients ’should be interested’ in making the sales.
However, ...
Friday, 01 May 2009
Big share dividends 'due to currency changes'
Moving too much money into high-yielding stocks might not be an effective strategy, new analysis from a financial website showed today.
The Motley Fool said that seven of the nine FTSE 100 firms thought to be planning a dividend hike of 20 per cent for 2009 were doing so due to ...
Friday, 01 May 2009
Industry praises Budget fund reforms
Budget reforms could end up benefitting the UK investment fund industry, according to one group.
The Investment Management Association (IMA) said that changes to the law made the UK a ’serious contender’ for attracting foreign cash, as well as keeping investment money from Britons within the country.
In the Budget, the launch ...
Friday, 01 May 2009
HiFX denies speculation over money transfer outflows
The weak pound will effectively trap investors’ money from being sent out of the UK, despite the tax changes proposed in the Budget.
This is the view of HiFX, a currency specialist which released new research on the matter today.
According to the firm,
private banking customers and other high-net ...
Thursday, 30 April 2009
Consumer confidence still weak, BRC claims
A business group today called for caution over hopes that consumer confidence could be on the up in the UK.
The British Retail Consortium (BRC) was commenting on recent figures from their peers at the Confederation of British Industry (CBI).
These showed that the number of retailers reporting an increase in sales ...
Thursday, 30 April 2009
Regulations 'will be made tougher' for structured products
The European Commission has pledged to take tighter control of investment products, in order to better protect private investors.
An update from Brussels yesterday revealed plans to strengthen regulations on the way in which structured investment products are sold at the retail level.
The Commission suggested that the reforms would serve to ...
Wednesday, 29 April 2009
'Obama funds' tipped by The Share Centre
Certain private bank investment funds could benefit from policies enacted by new US president Barack Obama, it has been claimed.
Researchers at The Share Centre indicated that the $787 billion fiscal stimulus package put together by the administration and passed by Congress earlier this year could boost returns from infrastructure funds.
This ...
Wednesday, 29 April 2009
IMA statistics reveal popularity of corporate bonds
Bond funds have registered impressive sales for March, according to a new data release from the Investment Management Association (IMA).
The industry group said that UK-domiciled bond funds enjoyed net inflows of £250 million last month, while £ Corporate Bond was the single most popular IMA-managed ISA class.
More generally, ...
Wednesday, 29 April 2009
Oil price expectations pick up
The continuing global recession will lead to steady oil prices across 2009, a poll from news agency Reuters has indicated.
A survey of experts suggested that the price of US crude will average out at $50.85, up from March’s annual forecast of $49.73.
This is the first increase in the ...
Tuesday, 28 April 2009
Exodus of high earners predicted following Budget
The Budget’s pledge to increase the tax burden for Britons earning £150,000 or more a year will lead to more and more people deciding to leave the country, Caxton FX has claimed.
According to the currency specialists, there has been a ’surge’ in the number of people moving their money overseas ...
Tuesday, 28 April 2009
OECD hails tax haven controls
The Organisation for Economic Co-operation and Development (OECD) has issued an update on its monitoring of the global tax system.
According to an update on the Paris-based organisation’s website, developing nations would benefit from a ’new frontier’ in regulation - and that tax is now ’one of the principal’ focuses of ...
Monday, 27 April 2009
BBA updates on FSA bank regulation switch
The switch of bank regulation to the Financial Services Authority (FSA) will improve ’certainty’ for customers, an industry group has said.
According to the British Bankers’ Association (BBA), the changeover will also lead to the retention of the Banking Code, the set of rules currently governing banks.
The FSA is due to ...
Monday, 27 April 2009
Upbeat G7 leaders predict "stabilisation"
G7 finance ministers meeting in Washington DC late last week have released an assessment of current economic conditions.
A statement from the ministers indicated that there were ’some signs of stablilisation’, following the precipitous downturn in global output caused by the credit crunch of recent months.
Improving lending flows from ...
Friday, 24 April 2009
Capital requirements to be boosted in EU insurance reforms
Major changes to the supervisory framework of the insurance industry have been mapped out by EU policymakers.
A vote in the European Parliament passed new legislation known as Solvency II, aimed at boosting the financial stability of providers by tying them in to tougher capital requirements.
Parliament voted in favour by 593 ...
Friday, 24 April 2009
Offshore cash targeted in new government campaign
The Treasury and HM Revenue & Customs (HMRC) launched an ’offshore disclosure opportunity’ this week as part of the Budget.
It is thought likely that the move could raise tens of millions of pounds, helping to boost government revenues.
The programme’s main aim is to improve the clarity of the tax ...
Friday, 24 April 2009
Recovery a long way off, IMF chief says
The present economic crisis remains ’far from over’ and fresh bank bailouts are needed, the head of the IMF warned yesterday.
Dominique Strauss-Kahn added that there were currently conflicting signals - ’red lights and green lights’ - on the financial climate.
Some analysts have pointed to recent improvements on several economic indicators ...
Thursday, 23 April 2009
IMA expresses concern over Budget's tax plans
The Investment Management Association (IMA) has given cautious welcome to yesterday’s Budget.
Launched in parliament yesterday by chancellor of the exchequer Alistair Darling, the Budget contained a number of proposals directly affecting private investors.
The annual Isa limit is to be raised from £7,200 to £10,200 from 2010/11 - although people aged ...
Thursday, 23 April 2009
BBA calls for "proper" and "sensible" bank bonus system
Bank bonuses should reward long-term, rather than short-term performance, the British Bankers’ Association (BBA) said today.
The new analysis follows recent controversy over bonus pay in the financial services sector - which some analysts have seen as a contributory factor to the onset of the credit crunch.
Banks purchased complex high-yielding financial ...
Wednesday, 22 April 2009
Deflation fears as RPI goes negative
The Retail Price Index (RPI) has entered negative territory for the first time since 1960, official figures have shown.
According to the Office for National Statistics, the inflation benchmark dropped from zero in February to -0.4 per cent in March.
Meanwhile, the Consumer Price Index, a benchmark which does not include property ...
Wednesday, 22 April 2009
Tax increase for high earners revealed in Budget
Alistair Darling has forecast that public deficits will reach 12 per cent of GDP this year.
Making his Budget speech to parliament today, the chancellor showed that the government predicted a £175 billion public debt for 2009 and a £173 billion debt for 2010.
Net borrowing levels for the UK were predicted ...
Tuesday, 21 April 2009
End of recession predicted by CBI
The end of the recession was penciled in for the second quarter of 2010 by the Confederation of British Industry (CBI).
According to a new report from the business group, weak growth would resume due in part to the Bank of England’s radical response to the downturn, along with the government’s ...
Tuesday, 21 April 2009
Help investors in the Budget, broker says
A top investment broker issued a call today for the sector to be helped by Alistair Darling’s upcoming Budget.
Chartwell Direct said that ’cash refugees’ who were looking to invest their money in the wake of interest rate cuts from the Bank of England should be targeted.
The cuts have brought the ...
Monday, 20 April 2009
Interest rate cuts 'could push gold to $1,500'
Gold prices could hit a high of $1,567 per ounce as low interest rates damage trading between miners and banks.
This is the warning of a new study from Edison Investment Research, which suggest that present market conditions closely resemble those of the 1970s.
According to the research, the normal trading mechanism ...
Monday, 20 April 2009
Arts and antiques investments 'grow in popularity'
Recent turbulence on the global financial markets has reportedly led to high-end private investors looking at new assets - including antiques.
Research from the Royal Institution of Chartered Surveyors (Rics) revealed today that art and antique auctions in the UK are becoming increasingly popular.
The poll of members show that 19 per ...
Monday, 20 April 2009
REIT tax problems highlighted
People investing in property can face an unnecessarily large tax burden, an update from industry groups has revealed.
KPMG, the accountancy and financial services firm, has released a guide on the matter in collaboration with education group Reita.
The advice centres on the various ways people can take out Real Estate Investment ...
Friday, 17 April 2009
London Stock Exchange sees rights issue increase
Big rights issues are becoming more popular among companies struggling in the credit crunch, figures from the London Stock Exchange Group indicated today.
According to the organisation, it handled £29.5 billion of the share sales across January-March 2009, with a total of 454 rights issues launched by listed firms.
In January-March 2008, ...
Friday, 17 April 2009
Bleak tax survey released by IFAs
A large majority of taxpayers are not making moves to lighten their obligations, despite the fact that the see them as unfair.
This is the main finding of a new report from IFA specialists at Unbiased.co.uk, released yesterday.
According to the poll of UK adults, 81 per cent of people have taken ...
Thursday, 16 April 2009
Pound rises as property market optimism grows
Increasing optimism regarding the UK’s economic prospects has pushed the pound above $1.50 for the first time in four months yesterday.
Sterling reached $1.503 before falling back slightly, following the release of new reports which indicated an imminent recovery in the troubled property sector.
The Royal Institution of Chartered Surveyors said that ...
Thursday, 16 April 2009
Tax "perk" for rich could be removed in Budget
A tax break currently enjoyed by high net worth Britons could be ended in the upcoming Budget, a leading IFA has warned.
Dennehy Weller & Co said that the chancellor could announce next week the ending of tax relief on pension contributions for those who pay the higher band of income ...
Thursday, 16 April 2009
Precious metal ETCs surge on investors' economy concerns
Investors are increasing their exposure to precious metals, movements in the Exchange Traded Commodities (ETCs) markets suggest.
New figures from ETF Securities, an ETC provider, show net inflows for funds linked to the metals surged by 400 per cent in Q1 2009.
Total precious metals holdings hit £4.5 billion by the end ...
Wednesday, 15 April 2009
Upbeat property market survey 'could signal recovery'
The UK property market could be on the road to recovery, new data from the Royal Institution of Chartered Surveyors (Rics) suggest.
According to the report, 31 per cent more surveyors reported a rise, rather than a fall, in buyer enquiries in March.
Not only is this a rise from February’s gap ...
Wednesday, 15 April 2009
Oil prices down on economy fears
Oil prices continue to fall over renewed concerns regarding the global economic downturn.
Negative data from the US, including a surprise 1.1 per cent fall in retail sales for March, appear to have led to the declines.
Yesterday evening, the spot price for brent crude stood at $52.80, 0.4 per cent down ...
Tuesday, 14 April 2009
Rules for transfers of investment units changed
Electronic transfers of assets within investment funds will be made easier, after the Financial Services Authority (FSA) confirmed new laws on the issue.
The regulator has approved paperless sales or transfers of ownership of units within authorised unit trusts or open-ended investment companies.
Previously, an investor was obliged to authorise these transactions ...
Tuesday, 14 April 2009
Cut in VAT 'boosts retail sales'
The controversial decision of the government to reduce VAT for a limited time has actually proved to be of benefit to the economy, a research group has claimed.
According to the Centre for Economics and Business Research (CEBR), the reduction of the tax from 17.5 to 15 per cent has already ...
Tuesday, 14 April 2009
Forex trading 'on the increase'
The volume of foreign exchange (forex) trading increased by 15 per cent between 2007 and 2008, the latest report from Greenwich Associates has revealed.
Both companies and ’large financial institutions’ were found to have increased their investment activity in the sector - more than offsetting a decline in activity among hedge ...
Tuesday, 07 April 2009
Money market sector review announced by ABI
A consultation paper on the creation of a new type of money market fund has been launched by the Association of British Insurers (ABI).
The new category, to be known as either the Capital Stability Fund Sector or Treasury and Deposit Fund Sector, will be aimed at conservative investors looking to ...
Tuesday, 07 April 2009
Fund returns turn positive as G20 boosts sentiment
Strong returns were observed for investment funds last month, with a particularly impressive performance from the emerging markets-linked sectors.
According to a new report from research firm Lipper, 70 per cent of sectors covered by the Investment Management Association (IMA) achieved positive returns.
This marks a turnaround from previous months, where volatile ...
Tuesday, 07 April 2009
Review pension investments, experts advise
Pension savers should be using the turn of the financial year to review their current investments, a new study suggests.
Fairinvestment.co.uk, a financial website, said that many consumers stood to benefit from taking more direct control of their portfolios.
Figures from the firm showed that 61 per cent are currently saving into ...
Monday, 06 April 2009
IMF loans 'destigmatised' by G20 agreement
Requesting a loan from the new-look International Monetary Fund (IMF) will become less of a stigma for national governments in future, a British cabinet minister has predicted.
Speaking anonymously to the Daily Telegraph newspaper, the minister suggested that the trebling in size of the fund, agreed at last week’s London G20 ...
Monday, 06 April 2009
Gold price falls as investors turn to equities
Gold bullion prices have declined, with ’green shoots’ signals of a potential recovery in the global economy leading to an increased appetite for risk among investors.
Over recent days, the market price of gold dropped from over $920 an ounce to below $880, before ending the week at $905.
Equities markets showed ...