Friday, 31 December 2010
'Market confidence up' among wealthy investors
Private wealth holders are more confident in the market than they have been at any time in the last three years, a new survey has revealed.
US research company Spectrem Group's Millionaire Investor Confidence Index rose seven points in December to end the year at seven.
...
Thursday, 30 December 2010
Time to reform inheritance tax, think tank claims
Inheritance tax should be replaced with a progressive capital receipts tax, the Institute for Public Policy Research (IPPR) has claimed, in news which could be of interest to those with
private wealth.
The existing system should be abolished because of public hostility and the fact that...
Wednesday, 29 December 2010
Changing China enticing private wealth?
After a turbulent 2010, China promises to be "an attractive investment destination next year", according to one expert.
Writing for Channel News Asia, Glenda Chong revealed the eastern giant is to create an international board for foreign listings in 2010 in an attempt to make Shanghai one...
Wednesday, 29 December 2010
Jump in IPO funds good for private wealth?
Fundraising through initial public offerings (IPOs) increased more than five-fold to over £10 billion in 2010, new figures have revealed, news which could be of interest to
private wealth holders with investments in the stock market
The number of IPOs jumped from 22 in 2009 to...
Friday, 24 December 2010
FTSE briefly hits 6,000
The FTSE 100 briefly broke the 6,000 barrier towards the end of trading on Wednesday (December 22nd), news which could interest people with
private wealth invested in the stock market.
It was the first time since June 2008 the share index of the UK's leading companies...
Friday, 24 December 2010
Gold prices set to rise, expert says
Private banking customers looking at alternative investments may be interested to hear the opinion of one expert, who believes the biggest risk today is "not owning gold".
Chief executive officer and president of Bullion Management Group Nick Barisheff said even after rising for ten years, the...
Thursday, 23 December 2010
Treasury announces new corporate banking rules
The Treasury and the Financial Services Authority have set out their plans to comply with revised rules on managed funds set out in the European Union's (EU) Undertakings for Collective Investments in Transferable Securities (UCITS) IV Directive.
New regulations include the introduction of a management company passport, which will allow financial...
Wednesday, 22 December 2010
Rental demand 'to remain strong'
Demand for homes to rent in the UK will keep on rising in 2011, it has been claimed, news which could be of interest to holders of
private wealth invested in the buy-to-let market.
Property Hawk editor Chris Horne said first-time buyers will continue to find it difficult to get...
Tuesday, 21 December 2010
Annuities 'down but not out'
Private wealth held in annuities may have slumped in value during the recession but their time might not be over quite yet, in the opinion of one commentator.
Even though there are signs of economic recovery, annuities continue to struggle and the situation could be about to get even worse...
Tuesday, 21 December 2010
Investment companies value up in 2010
UK investment companies out-performed the FTSE this year, according to research, in news which may be of interest to holders of
private wealth.
A report by the Association of Investment Companies (AIC) found its members' average worth increased by 17 per cent in 2010, compared with a rise of 10...
Tuesday, 21 December 2010
UK savings down in autumn, survey reveals
Statistics show Britons saved less money this autumn than in previous years, although that downward trend may be reversed in 2011, in news which could be of interest to those with
private wealth.
The figures, produced by National Savings and Investments (NS&I), revealed people in the UK are putting away...
Monday, 20 December 2010
New corporate banking tax a 'possibility'
Business secretary Vince Cable has described a new tax on the corporate banking sector as a "possibility".
Speaking to the BBC ahead of today's (20th December) scheduled meeting between senior banking figures and the coalition government, Mr Cable said "robust action" was needed to encourage the banks to exercise restraint over...
Monday, 20 December 2010
Cash gifts good for private wealth?
Private wealth management could be boosted by cutting inheritance tax bills through understanding the rules on cash gifts, an expert has claimed.
Inheritance tax applies to the value of assets on death, as well as cash gifts during a person's lifetime, Jane Baker revealed on finance website Love Money.
However, gifts...
Friday, 17 December 2010
BoE: Corporate banking vulnerable to European upheaval
The Bank of England (BoE) has said corporate banking in the UK remains vulnerable to instability in the European economies due to the interdependence of the continent's financial system.
In its biannual Financial Stability Report, Britain's central bank stated the re-emergence of problems for some countries alongside an element of contagion...
Friday, 17 December 2010
Gold ETFs set to boom next year
Investment in gold exchange traded funds (ETF) will rocket in 2011, according to one economic forecast, which could have implications for those with
private wealth.
The study by Commodity Online Bullion Research revealed China and India will lead the way in the buoyant gold ETF market and should attract large...
Friday, 17 December 2010
Next 12 months 'normal for investors'
Those with
private wealth may be interested to learn 2011 promises to be a "normal" year for investors, in the opinion of one expert.
Andy Brunner, chief strategist at Old Broad Street Research, stated most asset managers are confident that next year will bring a period of "sustainable expansion" around...
Thursday, 16 December 2010
Banking sector contributes over a tenth of UK tax, study reveals
Those with
private wealth may be interested to learn the tax contribution of the UK banking sector was £53.4 billion in the last financial year, according to the latest figures.
A study published by the City of London Corporation and produced by consultancy PwC showed tax payments by the financial...
Thursday, 16 December 2010
Nine out of ten fund managers 'optimistic for 2011'
Optimism is high among investment managers that asset values are set to surge in 2011, a survey has revealed, news which could be of interest to those with
private wealth.
A survey by the Association of Investment Companies found 92 per cent of fund managers believe markets will rise, as...
Thursday, 16 December 2010
Offshore banking 'makes sense'
A British expatriate has described
offshore private banking as the best way to keep money safe "because anything can happen".
James Binding moved to the United Arab Emirates in 2007 and set up his offshore bank accounts earlier this year, the National reports.
The founder of recruitment firm Binding Partnerships revealed...
Wednesday, 15 December 2010
Push private wealth into stocks, experts suggest
Britons looking at their personal wealth management have been told to invest in the stock market rather than traditional savings accounts.
Low rates of interest alongside current levels of inflation and taxation mean that savings accounts provide no real benefits at the moment, the Daily Telegraph stated.
The article highlighted recent research...
Wednesday, 15 December 2010
Government financial support for corporate banking falls
Treasury financial support for corporate banks has fallen to £512 billion as of December 1st, new figures from the National Audit Office have revealed.
However, the statistics also showed the government is paying back £5 billion a year in interest on the loans it took out to purchase shares in Royal...
Tuesday, 14 December 2010
'Nascent UK recovery' positive for private wealth?
A senior Bank of England figure has revealed "it may be some while yet before normality is restored" to the UK economy, but those with
private wealth may be encouraged to learn global growth is expected to continue.
In a speech in London, deputy governor for monetary policy Charles Bean...
Tuesday, 14 December 2010
Inflation up in November, ONS reveals
Inflation increased in November as a result of rises in the cost of clothing and food, it has been revealed.
New figures from the Office for National Statistics (ONS) showed the Consumer Prices Index (CPI) rose to 3.3 per cent from 3.2 per cent the previous month, above the government target...
Monday, 13 December 2010
Gold price increase boost for private banking?
Private banking investors may be interested to learn the price of gold crept back up on the financial markets after a fall last week.
This morning (December 13th), the price of gold per ounce was up 0.3 per cent to $1,387.25 (£881) after a decline of 2.2 per cent the previous...
Monday, 13 December 2010
Lord Myners: Corporate banking must be more competitive
The former City minister Lord Myners has said the corporate banking sector must be overhauled by breaking up the biggest institutions.
Writing in the Financial Times, he argued the UK money management industry is too concentrated in the hands of a few major players and is one of the world's "least...
Monday, 13 December 2010
Corporate banking regulation 'suffocating European recovery'
European corporate banking executives have warned that industry regulation and the resultant uncertainty are in danger of smothering the continent's economic recovery.
In interviews with Financial News, the bosses stated levels of investment and lending are being stifled by the level of sector reform, at a time when businesses need credit...
Thursday, 09 December 2010
Private investors 'moving back into actively-managed funds'
Holders of
private wealth may be interested to hear the opinion of one expert who believes European investors are moving money back into actively-managed funds after a prolonged period of favouring more passive options.
Writing for Financial News, Elizabeth Pfeuti stated the latest figures from data monitor Lipper show the...
Thursday, 09 December 2010
Lloyds chief says corporate banking will not benefit from break-ups
The boss of Lloyds has criticised proposals to break up the biggest players in the corporate banking sector, saying it would not increase competitiveness.
Eric Daniels told the Treasury Select Committee the market was already "enormously competitive" and would not benefit from further regulation.
"I am not sure that dividing banks further...
Thursday, 09 December 2010
Corporate banking customers happy with static interest rates?
Interest rates are likely to remain unchanged for the foreseeable future, according to one economist, a decision that may affect corporate banking customers in the coming year.
Ernst & Young senior economic advisor Andrew Goodwin expects the Monetary Policy Committee (MPC) to retain current rates of 0.5 per cent at its...
Thursday, 09 December 2010
Private wealth affected by "sluggish" growth?
The UK economy will expand slowly for the foreseeable future, according to one financial expert, an opinion which may interest those with
private wealth.
Gross domestic product (GDP) will grow by about one per cent in 2011 and just half a percentage point more the following year, Capital Economics' Samuel...
Wednesday, 08 December 2010
Increase in transactions good news for wealth management?
Those with
private wealth may be interested to learn the latest London Stock Exchange figures show the number of trades recorded on its electronic order books increased in several markets.
Total trades in November rose by 14 per cent compared with the same period last year to 24.5 million, worth...
Wednesday, 08 December 2010
FTSE growth good for private wealth?
The share value of Britain's most capitalised companies has increased by more than seven per cent since the beginning of the year, potentially good news for people with
private wealth.
Latest figures show the FTSE 100 has risen by 7.3 per cent since January, Reuters reports.
Mining stocks have seen the...
Tuesday, 07 December 2010
Private wealth boosted by trade confidence?
People with an interest in
private banking may encouraged to learn that new figures have shown businesses are becoming increasingly confident of the UK's trading outlook.
Statistics by Travelex revealed optimism among importers and exporters rose significantly in November, reaching its highest level in eight months.
Enterprises were said to be...
Tuesday, 07 December 2010
Blooming Irish assets good news for private banking?
Those interested in
private banking have been informed Irish assets could provide lucrative opportunities for people who are willing to take the risk.
In an interview with the Financial Times, Christopher Flowers of JC Flowers & Co said investors would be "pretty brave", but claimed there are definitely possibilities.
He noted...
Monday, 06 December 2010
2012 growth predictions to benefit those with private wealth?
UK growth will be slower than previously forecast next year but will be higher than expected in 2012, according to a new report that could affect those with
private wealth.
The British Chambers of Commerce (BCC) revealed it had revised downwards its predictions for 2011 because of the negative effects...
Friday, 03 December 2010
European corporate banking support 'will remain'
Corporate banking will continue to receive support from the European Commission (EC), the organisation has announced, but those financial institutions that ask for help will be forced to meet stricter conditions.
The European Union (EU) temporary state aid crisis framework has so far been in place for two years, the economic...
Friday, 03 December 2010
Rents increase good news for landlords with private wealth?
Those with
private wealth looking to invest in the housing market may be encouraged to hear that higher demand for properties to let has caused a hike in rental prices, new figures have revealed.
The report, published by the Royal Institution of Chartered Surveyors (Rics), showed 39 per cent more...
Friday, 03 December 2010
Corporate fiduciary to be affected by tax changes?
Corporate banking could be affected by new business tax regulation reforms introduced by the government.
The Controlled Foreign Company rules will be revamped to become more competitive, while firms with overseas branches will no longer be subject to corporation tax on profits earned abroad.
Richard Baron, head of taxation at the Institute...
Thursday, 02 December 2010
Private wealth boosted by record managed funds value?
Managed funds reached a record total value of £557 billion in October, the latest statistics have revealed, which could be good news for
private banking customers.
The analysis, produced by the Investment Management Association, named bonds as the most popular form of securities for the fourth consecutive month, with net...
Thursday, 02 December 2010
Corporate banking giants sign up to government tax code
The UK's 15 biggest corporate banking firms have adopted the Treasury's Code of Practice on Taxation.
Previously, just four had agreed to follow the new rules but last month saw all of them meet the deadline to comply set a year ago by HM Revenue & Customs (HMRC).
The code states tax...
Thursday, 02 December 2010
Social investment being hampered by subsidies?
A surge in
socially responsible investment in renewable energy could be on the horizon, but one expert believes the success of the industry is being hampered by government subsidies.
Dr John Constable, director of policy and research at the Renewable Energy Foundation, was speaking in the wake of the announcement...
Thursday, 25 November 2010
Businesses say corporate banking "supportive"
Corporate banking groups are "supportive" of enterprises, according to 44 per cent of owners questioned in a new study.
R3, the Association of Business Recovery Professionals, reveals despite reports of obstacles to obtaining credit, a significant proportion of company heads feel they have been backed up by corporate banking services.
Less than...
Wednesday, 24 November 2010
Corporate fiduciary affected by Treasury tax investigation?
Corporate fiduciary may come under scrutiny as a result of a new study by the Treasury Committee, which has announced it is to make an inquiry into the issues upon which the tax system is built.
Last month, the Organisation for Economic Cooperation and Development reported taxes on big businesses were...
Wednesday, 24 November 2010
Corporate banking to fund Indian firms as five join AIM?
Corporate banking may be increasingly involved with Indian commercial enterprises, as five firms have joined AIM - the London Stock Exchange's (LSE) international market for up-and-coming companies - within the last ten weeks.
The move suggests businesses from the sub-continent are becoming more involved in the global economy, implying corporate banking...
Wednesday, 24 November 2010
Distressed property strong for private wealth management?
Private wealth management through the acquisition of distressed property may be a common move, as one specialist reveals interest has risen significantly in recent months.
Andrew Burrell, partner in research at property consultancy King Sturge, notes such a choice "is obviously one of the more risky investments, but it may...
Monday, 22 November 2010
Is private wealth the only way to enjoy timely retirement?
Private wealth may be the only way for Britons to retire at the traditional age of 60 or 65, as one expert warns amassing the required savings might otherwise be difficult.
Dr Ros Altmann, director general of Saga Group, argues a "decent salary" and "low expenses" will be essential for...
Friday, 19 November 2010
Charity investments more important as government budget down 24%?
Charity investments may become an increasingly important means of income, as the Scottish government's draft budget reveals a 24 per cent cut in funding for the sector next year.
Cabinet secretary for finance and sustainable growth, John Swinney, notes the document "is set against the most dramatic reduction in spending imposed...
Friday, 19 November 2010
Corporate banking struggles as Irish crisis continues
Corporate banking in Ireland and nearby countries has been hit by the country's public deficit crisis, which is likely to result in a bailout from Europe and the International Monetary Fund.
Head of the central bank, Patrick Honohan, recently revealed he believes the amount needed will run into "tens of billions",...
Thursday, 18 November 2010
Social investing begins at home?
Social investing could be an issue closer to home than some people think, as one expert warns existing buildings must be overhauled if the UK is to meet its carbon reduction targets.
Ant Wilson, director of sustainability at technical and management services provider AECOM, advises "we have got to get...
Thursday, 18 November 2010
Private wealth business travellers 'unconcerned about cost'
Business travellers with
private wealth are unlikely to consider the cost of transport, as one expert notes the concern of commercial fliers "is more about the schedule and timing than it is about the price".
Individuals moving internationally for work may also be more likely to take advantage of offshore...
Tuesday, 16 November 2010
Private clients' wealth management 'unaffected' by tax rises?
Private clients' wealth management may be little affected by next year's tax rises in Scotland, as one expert claims the revisions will not affect the country's real estate market.
Dianne Paterson, property partner at legal firm Russel and Aitken, notes the increase in stamp duty will only apply to houses worth...
Tuesday, 16 November 2010
Private wealth 'pushes up rural house prices'
Buyers with
private wealth may be responsible for above-average house prices in the countryside, as one expert notes such properties "are still affordable – perhaps not for everyone – but for a certain sector in the housing market".
Jason Beedell, head of research at property consultants Smiths Gore, may be...
Monday, 15 November 2010
Retirement plans 'inadequate' among those with private wealth
Individuals with
private wealth may be lacking detailed retirement arrangements, as new research shows only one-in-four is confident of their provision for later life.
Sun Life Financial of Canada reports just 26 per cent of affluent individuals feel they have "planned in detail" for post-work years, indicating the majority may...
Monday, 15 November 2010
Do private banks benefit from increased personal finance pessimism?
Private banks could benefit from changing attitudes towards wealth management, as one expert claims the recession has made Britons pessimistic about personal finance.
Catherine Wolthuizen, policy expert at the Consumer Financial Education Board, spoke of the recent spending cuts, saying: "People are anticipating that there are going to be knock-on effects."
And...
Friday, 12 November 2010
Is corporate fiduciary behind falling repossessions?
Corporate fiduciary could be one factor contributing to a lower rate of repossessions, as an expert says lenders "should be applauded" for sensitivity when it comes to mortgage arrears.
Andy Pratt, chief operating officer at independent adviser Alexander Hall, claims: "As much as possible that can be done, is being done...
Friday, 12 November 2010
EVENT: Is employee share ownership beneficial to society?
With the FSA's declaration that some 2,500 more companies, including asset managers, hedge fund managers and UCITS investment firms, are to fall within new bonus regulations, many companies have decided that, in order to take advantage of the new rules, whilst continuing to attract and retain high quality staff and Employee Benefit Trust is the best option for pension and reward strategies.
Thursday, 11 November 2010
London property "prime performer" for wealth management?
Wealth management specialists may look to high-end London property, as one expert claims the sector "has long been a prime performer in a balanced investment portfolio".
Hugh Best, head of investment management at London Central Portfolio, argues "strong demand" is evident in the market for residential property in the capital, suggesting:...
Thursday, 11 November 2010
Offshore banking business damaged by recession?
Offshore banking business may have been profoundly affected by the economic crisis, as one expert claims: "There will be permanent losses from the recession."
David Kern, economic advisor at the British Chambers of Commerce, notes it may take up to five years for the UK to return to steady growth,...
Thursday, 11 November 2010
Diamonds – An Investment of the Heart or the Head?
The investment potential of diamonds has tended to focus on the unique diamonds and prices achieved by some of the auction houses in the last few years. Competition for the very finest examples has intensified as Asian buyers, with their appreciation for jewellery and shrewd investment, have entered this rarefied domain.
However, unlike in the 1980s, when diamond prices rose (and fell) in unison with gold prices, diamonds are not seen as the alternative investment that gold represents today but for how much longer will this be the case?
Monday, 08 November 2010
Social investment funds welcome 'licence to print money'?
Social investments funds may have welcomed the comments of chancellor of the exchequer George Osborne, who last week implied the Bank of England will engage in fiscal easing if necessary.
Speaking on Friday (November 5th), the politician suggested money would be injected into the economy if recovery appears to be faltering,...
Monday, 08 November 2010
Corporate banking relieved as UK 'unlikely to require cash injection'?
Corporate banking groups may be pleased to hear one body believes the UK economy is strong enough to resist the need for further quantitative easing.
Coming after the Federal Reserve announced a package of $600 billion (£372 billion) fiscal stimulus for the US economy, Andrew Goodwin, senior economic advisor to the...
Thursday, 04 November 2010
Social investment funds boosted by new website?
Social investment funds may find new support, thanks to the launch of a website related to socially-responsible asset management.
Mark Robertson, spokesman for the Ethical Investment Research Service, reveals the UK's first online portal dedicated to the subject - YourEthicalMoney.org - offers advice on green and principled use of finances,...
Wednesday, 03 November 2010
Stock investing 'popular for Scottish wealth management'
Scottish wealth management professionals are likely to see clients with
private wealth requesting stock investments, as a new report shows the asset vehicles are popular in the country.
Fair Investment Company reveals individuals living in Scotland may be most concerned with wealth management, as the nation invests 53 per cent...
Wednesday, 03 November 2010
Gold wealth management strong as market 'may double in 10 years'
Wealth management through gold investment could be set to rise, as one official today (November 3rd) claimed demand in China may double within the next ten years.
Wang Lixin, the World Gold Council’s Greater China general manager, suggested consumption will rise to 900 tons before 2020, stating: "It probably will be...
Wednesday, 03 November 2010
Corporate banking "driving" graduate job prospects
Corporate banking is responsible for driving graduate employment prospects, which have improved significantly since the depths of the recession, it has been claimed.
The firms, alongside
private banking services, are supporting starting salaries for those leaving university, which could make the sector popular with job applicants in the coming years.
Martin...
Tuesday, 02 November 2010
Wealth management best with 'prime, one-off property'
Wealth management through property investment would be best with "prime, one-off" real estate, as one expert claims this "isn't one of the masses and … will hold its value well".
Jeremy Way, director at estate agents Hirch Way & Ambler, suggests the market will be "a lot happier" by 2012 and...
Tuesday, 02 November 2010
UKSIF publishes new guide to socially-responsible investment
A new guide to socially-responsible investment has been published and the authors hope it will encourage greater involvement in this year's National Ethical Investment Week.
UK Sustainable Investment and Finance (UKSIF) is behind the piece, which was launched yesterday (November 1st) at an ceremony hosted by industry members.
From Monday, wealth management...
Monday, 01 November 2010
Charity investments supported by City Philanthropy Club
Charity investments received a boost last week, following the news prominent wealth management executives have set up the City Philanthropy Club.
Royal Mail chairman Donald Brydon and governor of the Bank of England Mervyn King participated in the establishment of the organisation, which seeks to encourage
social investment in the...
Monday, 01 November 2010
Property wealth management up as 'quality commands a premium'?
Wealth management through property speculation could enjoy a resurgence in popularity, as one expert notes: "Quality does and always will command a premium."
For those with
private wealth, this suggests the purchase of high-end real estate will offer good returns now and in the future, according to Hugh Best, head...
Thursday, 28 October 2010
Charity banking critical as 'grant competition toughens'?
Charity banking could be even more central to the success of third sector organisations, as one expert has warned competition for funding will become "much tighter".
Addressing the recent Institute of Fundraising Scotland conference in Glasgow, trainer and assessor Susan Robinson claimed donations-reliant groups will need to demonstrate positive use...
Thursday, 28 October 2010
Gold important for wealth management amid dollar slide?
Wealth management through gold speculation may remain important, as the dollar's brief rally has already shown signs of decline.
Reuters reports prices for the precious metal came back from losses in the previous session, adding 0.2 per cent to trade at $1,326.84 (£837.89) an ounce as of 04:07 BST.
For individuals engaged...
Wednesday, 27 October 2010
India supports wealth management with diamonds?
Wealth management though alternative investments such as diamonds may receive a boost thanks to an exploratory visit to Zimbabwe by delegates from India's precious stone industry.
Zimbabwe mines and mining development minister Obert Mpofu met with the 20-strong group, which may have been an attempt to strengthen links between markets in...
Wednesday, 27 October 2010
Could corporate fiduciary support tax breaks?
Improved corporate fiduciary may encourage the government to lower tax on the sector, a move one expert claims will attract more foreign investment.
Alistair Tebbit, spokesman for the non-party political organisation the Institute of Directors, argues the main factor lowering Britain's competitiveness is corporation tax, suggesting the UK is above the...
Wednesday, 27 October 2010
Corporate banking may celebrate 'unsurprising' GDP
Corporate banking groups may be pleased with the gross domestic product (GDP) figures for quarter three, which one expert describes as 'unsurprising'.
Michael Baxter, editor of InvestmentandBusinessNews.co.uk, suggests data from sources like the Purchasing Managers Index implied growth would be better than predicted.
And corporate banking groups may therefore find earnings rise...
Tuesday, 26 October 2010
Socially-responsible investment crucial after spending review?
Socially-responsible investment may be more important than ever in the wake of the spending review, as several worthy causes face cuts as part of wide-sweeping measures to reduce Britain's deficit.
Ethical and
social investing can refer to a number of things, such as specially designed funds, or favouring renewable energy...
Tuesday, 26 October 2010
Inheritance tax 'threatens private wealth' without a will
Private wealth may be at risk of heavy duties when it comes to paying inheritance tax for those who die intestate, it has been claimed.
A survey by unbiased.co.uk reveals 30 million Britons have not yet written a will, despite the fact 92 per cent claim they know how they...
Tuesday, 26 October 2010
Foundations and trusts celebrate as GDP beats forecast?
Foundations and trusts could be celebrating the news gross domestic product (GDP) for the third quarter soundly beat analysts' predictions.
Economic expansion stood at 0.8 per cent for the three months in question, double the median forecast of 0.4 per cent and a significant improvement on the worst outlook, which put...
Monday, 25 October 2010
Scottish property popular for private wealth investment
Those with
private wealth are increasingly turning to Scottish real estate, it would seem, as new figures show a sharp rise in the purchase of houses worth £1 million.
The Bank of Scotland reveals a 36 per cent hike in the number of luxury properties sold during the first six...
Monday, 25 October 2010
Private wealth protected as further QE "unlikely"?
Private wealth may be supported by the news one organisation believes the Bank of England will not engage in any further quantitative easing (QE).
Andrew Goodwin, senior economic advisor to the Ernst and Young ITEM Club, states: "The Bank is right to keep its options open given the heightened uncertainty...
Friday, 22 October 2010
Offshore private banking to avoid high inflation?
Offshore private banking may be one option for those hoping to avoid high inflation, as one group claims the level will remain above target for the foreseeable future.
Andrew Goodwin, senior economic advisor to the Ernst and Young ITEM Club, stated: "We expect inflation to remain above target until early...
Thursday, 21 October 2010
Corporate banking levy 'will generate £2.5bn annually'
The corporate banking levy announced in yesterday's (October 20th) spending review is expected to generate £2.5 billion a year by 2012-13.
First raised in June's Emergency Budget, the tax represents a permanent charge on corporate banking activities and is designed to encourage better fiduciary among financial service providers.
Opponents claim the move...
Thursday, 21 October 2010
Corporate banks 'welcome' spending review?
Corporate banking may be among the sectors to welcome yesterday's (October 20th) spending review, in which chancellor of the exchequer George Osborne set out measures to stimulate economic growth and job creation.
Andrew Goodwin, senior economic advisor to the Ernst and Young ITEM Club, claimed the parliament address "is likely to...
Thursday, 21 October 2010
Spending review earmarks £1bn for green investment bank
Social investing received a boost yesterday (October 21st), when chancellor of the exchequer George Osborne announced £1 billion is to be spent on establishing a green investment bank.
Blane Judd, chief executive at the Chartered Institute of Plumbing and Heating Engineering (CIPHE), claims this is "great from the public's point...
Wednesday, 20 October 2010
Is Art a worthwhile investment ?
Art can be a satisfying investment, providing both financial and emotional returns. 2009-2010 has seen a solid recovery in the art market. Earlier this year the quick succession of world record breaking prices by Giacometti's "Walking Man I" ($104,327,006; February 2010) and Picasso's "Nude, Green Leaves and Bust" ($106,482,500; May 2010) signaled the emergence of the high end of the market from a relatively short period of hibernation.
Wednesday, 20 October 2010
Corporate banks await outcome of spending review
Corporate banks and Britain as whole are awaiting the government's spending review, due to be announced today (October 20th) at 12:30 BST.
The plans will set out ways to reduce public expenditure and so cut the country's deficit, which some believe will stifle economic recovery if stringent measures are not taken...
Wednesday, 20 October 2010
Trust wills 'protect' private wealth from inheritance tax
Private wealth could be protected from state levies on the event of an individual's death by the use of testament and life assurance policy trustees, it has been claimed.
Citywire.co.uk reports allowing assets to be held in trust can help people mitigate the costs of inheritance tax, as the proceeds...
Wednesday, 20 October 2010
Socially-responsible investment 'driven' by consumer interest
Socially-responsible investment is being supported by increasing interest in issues such as fair trade, human rights and climate change, it has been claimed.
Mark Robertson, spokesman for the Ethical Investment Research Service (EIRS), notes the amount of money placed in green and ethical funds has reached record levels, now standing at...
Tuesday, 19 October 2010
Charity bank accounts 'could earn £60,500 extra a year'
Charity bank accounts may help third sector organisations achieve their objectives, as one organisation claims the groups should "make the most of that they have got".
Fair Investment Company (FIC) director James Caldwell reports research by Investec shows donations fell by 9.6 per cent during the first six months of...
Tuesday, 19 October 2010
Wealth management 'supported by predictable and consistent taxes'
Wealth management would be shored up by a "more predictable and consistent UK tax regime", according to one organisation.
The City of London's report, Taxation of the Financial Services Sector in the UK: Predictability and Competitiveness, has been welcomed by the Investment Management Association (IMA), which claims difficulty anticipating state levies...
Tuesday, 19 October 2010
Charity investments safe as 'double-dip recession unlikely'?
Charity investments might be protected from further effects of the recession, as one expert claims Britain's economy is likely to falter rather than return to the depths of the banking crisis.
David Kern, economic advisor at the British Chambers of Commerce, argued the nation is "in for a period of slow...
Monday, 18 October 2010
Wealth management supported as China's diamond market "red hot"?
Wealth management through diamond investment may prove profitable as it is claimed demand for diamonds in China is becoming "red hot".
As the world's fastest-growing economy, healthy interest in the precious stones could signal gains for those who engage in wealth management through diamonds or relevant investment.
What's On Xiamen reports mainland...
Monday, 18 October 2010
People with private wealth 'buy abroad for lifestyle reasons'
Individuals will
private wealth purchase property abroad for "lifestyle reasons", rather than currency fluctuations, it has been claimed.
Robin Wilson, head of overseas at Rightmove, suggests Forex market news - such as the current low value of the dollar in relation to many major counterparts - is not the primary...
Monday, 18 October 2010
Private wealth 'affected by pensions tax relief reduction'
Those with
private wealth will be most affected by the recent changes in pensions tax relief, it has been claimed.
Alison-Jane Bailey, head of policy and technical development at the Pensions Advisory Service, acknowledged: "The measures will impact high earners", claiming around 100,000 Britons will feel the effects of the...
Friday, 15 October 2010
Mexico embraces socially-responsible investment
Socially-responsible investment has received a boost with the news the Mexican Stock Exchange (BMV) is branching out into ethically-guided investment.
Experts in Responsible Investment Solutions (ERIS) announces it is to help the Central American nation develop a new sustainability index, one which will allow assessment of companies according to a range...
Thursday, 14 October 2010
Wealth management affected by pension tax changes
Wealth management for Britons with significant personal means is likely to be altered by the changes being made to the current system of pensions tax relief.
Annual allowances have been reduced and those with
private wealth may wish to diversify their investment portfolio in order to ensure maximum returns on...
Thursday, 14 October 2010
European socially-responsible investment hits €5t
Socially-responsible investment in Europe now stands at €5 trillion (£4.39 trillion), according to a new study.
Eurosif, the European Sustainable Investment Forum, today (October 14th) published its European Sustainable and Responsible Investment Study, which indicates ethically-responsible asset management is intensifying across member states.
It reveals the global economic slowdown has not prevented...
Thursday, 14 October 2010
Private fiduciary supported by 64% of financial service providers
Private fiduciary could be strengthened by the revelation 64 per cent of financial service providers favour tackling fraud through rewarding whistleblowers.
The Chartered Institute for Securities and Investment (CISI) carried out a survey that revealed almost two-thirds agree Britain should follow the US's lead, where new legislation means those who report...
Wednesday, 13 October 2010
Improved corporate fiduciary 'to create stronger businesses'
Better corporate fiduciary might have the positive side effect of making small businesses stronger, as one observer claims stricter lending criteria is leading to a "survival of the fittest process".
John De Groot, chairman of Success Strategy Limited, states flourishing enterprises arise from individuals overcoming challenges and hardships, arguing this will...
Wednesday, 13 October 2010
Wealth management 'stifled' by minimum wage freeze?
Wealth management could be threatened if the government's suggestion of a moratorium on minimum wage rises is carried out, as one expert argues such a policy would damage Britain's economic recovery.
Carolyn Jones, director of the Institute of Employment Rights, claims lower pay will stifle the economy by reducing the amount...
Tuesday, 12 October 2010
CISI supports offshore banking in Cayman Islands
Offshore banking in the Cayman Islands is to receive a boost with the introduction of a new financial services training scheme.
The Chartered Institute for Securities and Investment (CISI) announced today (October 12th) it is working with the University College Cayman Islands to launch an accredited training course in the CISI's...
Tuesday, 12 October 2010
London property investment 'best in Europe'
Those with
private wealth looking to invest in the rental market should consider London first, according to one expert.
Mat Oakley, director of commercial research at Savills, claims England's capital is "about a year ahead in the cycle of most other European cities", explaining: "It went down first, but it...
Monday, 11 October 2010
Corporate banks optimistic as 'recruitment heavy in 2010?'
Corporate banks may be positive about the future of the sector, as one expert observes financial service providers have been recruiting "very heavily" over the past year.
David Fleming, associate director at professional connections agency Badenoch and Clark, suggests corporate banks were "behind the curve" when it came to delivering growth,...
Monday, 11 October 2010
Corporate banks to support manufacturing growth?
Corporate banks may be well placed to support the expansion of UK industry, as one expert claims low access to finance is the main barrier to manufacturing growth.
Ed Moss, spokesman for independent charity the Manufacturing Institute, notes "restocking activity" is falling, with weak consumer confidence and widespread austerity measures harming...
Monday, 11 October 2010
Sally Tennant Appointed CEO of Kleinwort Benson Bank
Kleinwort Benson Bank today announces the appointment of Sally Tennant as Chief Executive, effective from mid-January 2011 (subject to regulatory approval). Sally joins from Lombard Odier Darier Hentsch (“Lombard Odier”), the Swiss private bank, where she was Chief Executive of its London-based private banking operation. Sally replaces Robert Taylor, who joined Kleinwort Benson as CEO in 2004.
Friday, 08 October 2010
National Ethical Investment Week supports socially-responsible wealth management
Socially-responsible investment is to be support by a dedicated week early next month and experts are urging financial service providers to speak to new and existing clients about green and ethical options.
National Ethical Investment Week 2010 is the third time the event has taken place and runs from November 7th-13th,...
Friday, 08 October 2010
Retirement wealth management sought by 48% of consumers
Retirement wealth management is the most common form of financial guidance sought by British consumers, with 48 per cent of those turning to a professional interested in post-work financial planning.
Private banking services might be important to those seeking to secure their personal assets in later life, as Unbiased.co.uk reports...
Thursday, 07 October 2010
Corporate banks approve ongoing 0.5% base rate?
Corporate banks may approve of the revelation the base rate is to stay at 0.5 per cent for another month.
The Bank of England's Monetary Policy Committee (MPC) today (October 7th) voted to keep the national rates at the same level, where it has remained since it was cut by half...
Thursday, 07 October 2010
Private wealth investors 'retreat' to home country
Private wealth property investors have begun moving back to commercial activity in the relative safety of their own country, according to one expert.
Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors, claims individuals will favour
private wealth investment in markets they know during times of economic...
Thursday, 07 October 2010
Offshore bank accounts in demand as 'people should shop around'?
Offshore bank accounts may see rising demand as one wealth management body has advised Britons should "shop around" when it comes to personal finance products.
The British Bankers' Association has released a statement, noting: "Current accounts are not - and never have been - intended for people's savings."
For those with...
Wednesday, 06 October 2010
Charity investments may rise as European GDP exceeds forecast
Charity investments could be set to rise thanks to the news gross domestic product (GDP) in Organisation for Economic Co-operation and Development (OECD) nations improved more than expected during the second quarter of the year.
Incorporating countries such as the US, Japan and many European Union member states, real GDP rose...
Wednesday, 06 October 2010
Is high-speed rail a socially responsible investment?
Building a high-speed rail link between London, Birmingham and the north might be considered a socially-responsible investment, as one expert claims such a move would boost employment and output in England's second city.
William Rogers, policy advisor for the Birmingham Chambers of Commerce, said the plans would "revolutionise our local and...
Tuesday, 05 October 2010
Private banks to suffer as latest Q2 GDP 'completely inaccurate'?
Private banks may find business not as swift in the first half of 2011, as one wealth management expert claims the latest data for gross domestic product (GDP) between April and June this year "completely overstates the strength of the economy".
Howard Archer, chief European and UK economist at forecasting company...
Tuesday, 05 October 2010
Wealth management secure as 'double-dip recession very unlikely'?
Wealth management experts may be relieved to hear one financial planning expert has described a return to the recession as "very unlikely".
Andrew Goodwin, senior economic advisor to non-governmental economic forecasting group the Ernst & Young ITEM Club, claims there is no more than a ten per cent chance the country...
Tuesday, 05 October 2010
Is retirement wealth management supported by Sipps?
Wealth management for retirement may be assisted by self-invested personal pensions (Sipps), as one expert claims the schemes optimise returns.
Guy Tolhurst, managing director of Intelligent Partnership and Sipp expert at Property Investor Show and OPP Live, claims Britons must "sit up and take control of their own future" when it...
Monday, 04 October 2010
Private wealth investors 'should look to German real estate'
Private wealth investment specialists may wish to focus on the German real estate market, as one expert advised "strong performance" is expected in a number of sectors.
Simon Mallinson, director of European research at Invesco, noted retail, industrial and office are all predicted to offer good returns, with the latter...
Friday, 01 October 2010
Corporate banks 'should be able to cope' without liquidity support
Corporate banks should not be troubled by the withdrawal of the Bank of England Special Liquidity Scheme, according to one member of the Monetary Policy Committee.
Executive director of markets Paul Fisher notes the system was put in place to ensure corporate banks and credit providers were in a position to...
Thursday, 30 September 2010
Corporate banks 'will change to meet consumer needs'
Corporate banks will evolve in response to consumer needs, it has been suggested.
Speaking of the future of financial services in Britain, British Bankers' Association (BBA) assistant director of media Brian Capon claims corporate banks and others will still exist in ten years time, but admits: "Just what they will look...
Thursday, 30 September 2010
Corporate fiduciary 'should be open to public scrutiny'
Corporate fiduciary should be a matter of public interest, an industry body has suggested.
Today's (September 30th) publication of Financial Service Authority data on bank complaints was welcomed by the Financial Services Consumer Panel, which argues more should be done to throw light on corporate bank operations and fiduciary.
Chair Adam Phillips...
Thursday, 30 September 2010
Wealth management challenging as 'recovery will be sluggish'?
Wealth management might be difficult for Britons with
private wealth, as one expert claims the economic recovery "will be a sluggish one".
Tony Dolphin, senior economist at the Institute for Public Policy Research, noted recent data reveals fiscal activity is weaker than might have been thought following good gross domestic...
Wednesday, 29 September 2010
Those with private wealth 'can set an example in retirement'
Individuals with
private wealth could set an example for those on lower incomes by working longer than the traditional retirement age, it has been suggested.
Robin Ellison, partner at law firm Pinsent Masons, advises well-paid Britons working longer could improve wealth management by ensuring pension pots are worth more when...
Wednesday, 29 September 2010
Wealth management through stock investing higher?
Wealth management through stock market speculation may have risen during the first half of the fiscal year, as figures reveal buying and selling rose over the period in question.
The London Stock Exchange Group reports new issues on the main market and the AIM trading platform for emerging companies more than...
Wednesday, 29 September 2010
Private wealth property investment better in south?
Private wealth property investment may be more attractive in the south of Britain, as one housing expert claims a "significant gap" is going to open up between the two halves of the country.
Savills director Lucian Cook reveals the UK is moving into a cycle whereby property in the lower...
Tuesday, 28 September 2010
Private wealth at risk as "drop in growth almost inevitable"?
Private wealth could be at risk of weakening economic recovery, as one expert warns growth is likely to contract in the third quarter of 2010.
Jeremy Cook, chief economist at World First, was commenting on the final reading of gross domestic product for the second quarter of the year, which...
Tuesday, 28 September 2010
Offshore bonds explained in third way product guide
Offshore bonds and other wealth management tools are to be explained as part of a new guide to third way products.
Independent financial research company Defaqto is publishing the tool, which promises to lay bare the pensions schemes treading the middle ground between lifetime annuity and unsecured pension plans.
Insight analyst for...
Monday, 27 September 2010
Social investment funds to focus on Brazil?
Social investment funds might focus on Brazil in the near future, as experts claim the country is ripe for cash injection.
The Association of Investment Companies has spoken to a number of industry experts about the benefits of assets in the country, which is due to hold a general election...
Monday, 27 September 2010
Corporate banks release more bonds on stock market
Corporate banks and other groups have released more bonds onto the stock market, almost quadrupling the number available for trading.
Private wealth investors and other stakeholders will have 89 corporate bonds to choose from - up from the 24 previously available - and the range now includes callable bonds, reports...
Monday, 27 September 2010
Private banks benefit as financial sector expands most since 2007?
Private banks may be among those benefiting, as it is revealed the UK financial services sector grew at its fastest rate since June 2007 over the past three months.
The latest survey from the Confederation of British Industry (CBI) and PricewaterhouseCoopers shows profits in the sector increased for the fifth quarter...
Friday, 24 September 2010
Gold holding at record high - good for wealth management
Wealth management through investing in gold may be an increasingly attractive option as the precious metal holds steady at an all-time high of $1,296.10 (£825.02) per ounce.
Reuters reports the commodity is expected to continue its rise, as risk-averse speculators seek perceived safe havens for commercial and
private wealth investment.
One...
Friday, 24 September 2010
Private banking groups 'need not fear demise of euro'
Private banking groups should not worry about the health of the euro, according to one financial executive.
In a speech at The Economist Conference's Inaugural Eurozone dialogue Berlin, Olli Rehn, European commissioner for economic and monetary affairs, played down fears the single currency might collapse due to the strain of...
Friday, 24 September 2010
Corporate fiduciary examined in ICB paper
Corporate fiduciary is one of the focuses of an Issues Paper published today (September 24th) by the Independent Commission on Banking (ICB).
Following the global banking crisis, the body was asked to examine reforms with the aim of improving the sector in terms of financial stability and fair competition.
One of the...
Thursday, 23 September 2010
Charity bank accounts boosted by Give As You Earn
Charity bank accounts have been boosted over the past ten years by individuals donating through the Give As You Earn scheme, which allows people to provide money tax-free via their payroll.
The Charities Aid Foundation (CAF) reports £81 million was bestowed last year, an increase of 153 per cent on...
Thursday, 23 September 2010
Wealth management threatened by 'weak global money supply'?
Wealth management might be threatened by weak global money supply, which one expert claims will throw up some "nasty shocks" in the next few years.
Michael Baxter, editor of Investment and Business News, suggests UK output in 2011 is likely to surpass this year's level, at which point "you can say...
Wednesday, 22 September 2010
Private banks 'will see recovery slow in 2011'
Private banks are likely to see the pace of economic recovery slow in 2011, according to one commercial organisation.
The Confederation of British Industry (CBI) has predicted the UK will continue to pull away from the recession over the next 12 months, but at a slower pace than previously suggested.
For private...
Wednesday, 22 September 2010
Standard and Poor's: Corporate bonds are a good investment
Private wealth investment experts may wish to focus on corporate bonds, as one financial institution notes the current environment is "positive" for the asset vehicles.
Credit agency Standard and Poor's reports the slow growth and low inflation currently characterising western economies favours corporate bonds, with the mid and long-term outlook...
Wednesday, 22 September 2010
Spending review 'should not affect UK's credit rating'
Corporate banks and others may be relieved to hear October's spending review is unlikely to affect the UK's credit rating, according to one financial body.
Andrew Goodwin, senior economic advisor to non-governmental forecasting group the Ernst and Young ITEM Club, observes markets and ratings agencies appear to be "relatively happy" with...
Tuesday, 21 September 2010
Corporate banks cautious as public borrowing hits record high?
Corporate banks might be trading cautiously at the moment, as the Office for National Statistics revealed today (September 21st) public borrowing has risen to a record high.
The net borrowing figure for August stands at £15.9 billion, higher than most economist's predictions, which forecast the figure to be around £12.5 billion.
For...
Tuesday, 21 September 2010
OECD: Efficient spending key to US recovery
Efficient spending is key to economic recovery in the US, according to the report of a leading financial organisation.
The Organisation for Economic Cooperation and Development (OECD) suggests looser lending requirements from corporate banks will not be enough to ensure the emergence of the world's biggest economy from recession, saying support...
Monday, 20 September 2010
Corporate banking sector 'should have more competition'
Corporate banking groups should be subject to greater competition, governor of the Bank of England Mervyn King has stated.
He suggests more corporate and private banks should join the market in order to offer Britons "a wide range of options", adding mutual organisations are also important for diversifying the offerings of...
Monday, 20 September 2010
London property values 'have inevitably slowed'
The value of property in central London has "inevitably slowed" it has been stated, suggesting people with personal wealth may find real estate in the area offers good value for money.
Hugh Best, head of investment management at London Central Portfolio, notes the rate of growth has slowed but not fallen,...
Thursday, 16 September 2010
Wealth management through precious metal investment to rise?
Wealth management through trading in precious metals may be set to rise, as the value of silver hits a two-and-a-half-year peak and experts claim weak US economic data could increase the value of gold.
Those with
private wealth may fear riskier assets will depreciate, causing spot prices for silver to...
Wednesday, 15 September 2010
Wealth management experts hang on at Lehman Brothers
Wealth management experts have taken the unusual decision to keep working at bankrupt Lehman Brothers, following the orders of boss Bryan Marshal, who believes the firm can earn money by retaining some of its worst-performing assets.
Corporate and
private banking groups may have learnt lessons from the investment company, whose...
Wednesday, 15 September 2010
Wealth management through property 'a consistent investment'?
Wealth management through property could be considered a consistent investment, as one expert notes recent data shows the market is becoming more stable.
Liam Bailey, head of residential research at Knight Frank, comments on the apparently conflicting August surveys produced by Halifax and Nationwide, one of which came to a positive...
Tuesday, 14 September 2010
Wealth management expert: Double-dip recession unlikely
A wealth management expert has claimed the likelihood of a double-dip recession is low, given the fact that output is already relatively muted.
Michael Baxter, editor of Investment and Business News, argued "the recession seems to have been dragging", suggesting this is a blessing in disguise as "it is difficult to...
Monday, 13 September 2010
Corporate banks reluctant to finance Manchester business?
Corporate banks remain reluctant to finance Manchester-based business and others in the area, it has been suggested.
Chris Fletcher, deputy chief executive and policy director of the Greater Manchester Chamber of Commerce, noted corporate banking credit continues to be difficult to secure, observing some members are "looking for other ways to...
Monday, 13 September 2010
Corporate banking 'to lead Britain out of recession'
Corporate banking is to lead Britain out of the global economic downturn, according to the analysis of one wealth management organisation.
Simon Brazier, co-head of UK equities at Threadneedle, observed the government has stated the corporate banking sector is to pave the way forward for financial recovery, claiming this means October's...
Friday, 10 September 2010
Socially-responsible investment high in UK?
Socially-responsible investment in the UK may be relatively high, as it is revealed the country is the eighth-best in the world in terms of donating money to charity.
Many individuals with
private wealth dispense some of it to help people less fortunate than themselves by giving cash to not-for-profit organisations.
And...
Thursday, 09 September 2010
Socially-responsible investors win award
Socially-responsible investment groups have won recognition at the Ethical Investment Association's (EIA) 2010 Transparency Awards announced today (September 9th).
Winners include Axa Investment Managers, Henderson Global Investors, Jupiter Asset Management and Rathbone Unit Trust Management , which all were deemed to have performed well in implementing the European
SRI Transparency...
Thursday, 09 September 2010
Corporate fiduciary fine for Goldman Sachs
A corporate fiduciary fine of £17.5 million has been levied at Goldman Sachs International for failure to provide the Financial Services Authority (FSA) with appropriate information relating to reporting obligations.
The corporate banking giant did not ensure it had systems and controls in place to comply with UK regulations, meaning the...
Wednesday, 08 September 2010
Offshore banking solution for over-55s?
Offshore banking might be the solution for problems faced by over-55s, as a new report reveals the majority are struck by unexpected expenses that could eat into savings placed in more traditional vehicles.
Research from Aviva revealed 92 per cent of those questioned faced this problem, indicating offshore savings accounts -...
Wednesday, 08 September 2010
Gold 'is a safe haven' for private wealth management
Private wealth management specialists might find demand for investment in precious metals is on the rise, as one expert described gold as a "safe haven", saying it gives people security.
Martin Rapaport, chairman of the diamond and jewellery-specialised Rapaport Group, commented: "The view of the global economy is that it...
Tuesday, 07 September 2010
Wealth management expert: Bank unlikely to raise base rate
A wealth management expert has claimed the Bank of England is unlikely to raise the base rate at the next meeting of the Monetary Policy Committee this Thursday (September 9th).
Author Martin Bamford opined: "It would be a big surprise to see a rate hike now," adding he expects the Bank...
Tuesday, 07 September 2010
Corporate banking 'will have greater supervision' under new EU rules
Corporate banking groups will find their regulation is subject to greater supervision under proposed new rules from the European Union (EU), it has been stated.
Martin Bamford, chartered financial planner at Informed Choice, notes the revised measures must tread a careful line between preventing future problems, while not putting economic recovery...
Monday, 06 September 2010
Corporate banking support for Greece
Credit institutions in Greece are to receive financial help from euro-area and the International Monetary Fund following approval from the EU.
The Hellenic Financial Stability Fund will allow corporate banking institutions to be recapitalised following the crash in the country's economy as a result of the global recession.
Joaquin Almunia, vice-president in...
Monday, 06 September 2010
Offshore banking 'attractive' in Jersey
Those thinking of moving their funds to offshore banking facilities have been advised to choose banks in Jersey.
According to the International Law Office, the Channel Island is a popular option for those with
private wealth to store, thanks to its autonomy from the British Crown as well as EU...
Thursday, 02 September 2010
Corporate banking 'does not support regional stock exchanges'
Corporate banking groups are unlikely to support the establishment of regional stock exchanges within the UK, according to the results of a report published today (September 2nd).
The Chartered Institute for Securities and Investment revealed 76 per cent of those working in the financial services sector are not in favour of...
Thursday, 02 September 2010
Private banks 'to feel budget cuts within next 2 years'
Private banks are likely to feel the effects of government austerity measures within the next two years, according to one expert.
Budget cuts have already affected many sectors, with industries such as construction suffering since the reductions announced in the June budget.
But the knock-on effects of this might soon start hitting...
Thursday, 02 September 2010
Sipps 'for greater flexibility with private wealth'
Individuals with
private wealth might have greater flexibility in retirement if they employ a self-invested pension plan (Sipp), it has been stated.
Andrew Tully, senior pensions policy manager at Standard Life, claimed people can enjoy "choice, flexibility and control" through the vehicles, which allow users to select from a number...
Wednesday, 01 September 2010
Wealth management easier without requirement to annuitise?
Wealth management for those with private means might be easier to manage now the requirement to annuitise pensions by the age of 75 has been removed, it has been suggested.
Andrew Tully, senior pensions policy manager at Standard Life, says the move will allow for "further innovation" in the market, which...
Tuesday, 31 August 2010
Corporate banking to lose value in Scotland?
Corporate banking groups may find their Scottish operations lose value over the next few months, as one group predicts the economy is to slow during the final quarter of 2010.
Bank of Scotland has released a report saying the country's financial performance peak for the year is likely to have been...
Tuesday, 31 August 2010
Offshore banking to complement 'better' life abroad?
Offshore banking might be a good solution for those who have taken the decision to live or retire overseas, as one expert claims the majority of those who do so consider themselves happier than they would have been in the UK.
Rhiannon Davies, director of expatriate and international lifestyle magazine ShelterOffshore.com,...
Friday, 27 August 2010
Birmingham tops international real estate investment table
Private wealth real estate investors might be flocking to Birmingham, following news the city is top of the global real estate investment table outside of London.
England's second city could prove attractive for those seeking structural assets, as the urban centre is known for its large companies and hosting international...
Wednesday, 25 August 2010
Socially-responsible investment helped by new guide?
Socially-responsible investment may be supported by a new guide produced for non-profit organisations to help them become more visible online.
Third Sector reveals the Internet Advertising Bureau (IAB) has developed the publication, which aims to make charities easier to find on the internet.
This may encourage socially-responsible investment as individuals with...
Tuesday, 24 August 2010
Wealth management expert: Double-dip recession is unlikely
A wealth management research body has described the possibility of a double-dip recession as "unlikely", saying the probability of it befalling Britain is no greater than one in five.
Andrew Goodwin, senior economic advisor to the Ernst & Young ITEM Club, notes businesses "remain firmly in expansionary territory", meaning a second...
Tuesday, 24 August 2010
Private banking services as pension schemes close?
Private banking services might be a way to ensure clients with personal wealth are able to live comfortably in retirement, as one investment specialist observes many final salary schemes are closing as companies can no longer afford to maintain them.
And larger firms, such as corporate banks and legal service...
Monday, 23 August 2010
Wealth management through property 'significantly easier'?
Wealth management through property may now be significantly easier than at any time since the recession, as one market expert notes the availability of loans has improved considerably.
Stuart Law, chief executive officer of property investment consultants Assetz, observes there was "very substantial improvement" in lending terms from private banks and...
Friday, 20 August 2010
Socially-responsible investment conference welcomes international speakers
A socially-responsible investment conference is to take place in Scotland next month, with India's renewable energy minister, the head of climate change and environment for the European Investment Bank and the European Union's North Sea grid co-ordinator all due to speak at the event.
Focusing specifically on low carbon socially-responsible investment,...
Thursday, 19 August 2010
Hedge fund personal wealth investment down in Q 2?
Hedge funds may have seen a decrease in personal wealth investment during the second quarter of the year, as data reveals the vehicles saw net withdrawals of almost £100 million over the three-month period.
Providing performance indices, Hedge Fund Research revealed today (August 19th) the industry has received a total of...
Thursday, 19 August 2010
London 'the first place' for foreign private wealth investors
Foreign
private wealth investors look to London first for asset purchasing, according to one market expert.
The stability of the country, its economy and global standing all mean those looking to purchase property abroad turn to England, claims Ed Mead, director of independent London estate agents Douglas and Gordon.
He noted...
Wednesday, 18 August 2010
Offshore banking profitable as Germany sees record growth?
Offshore banking could prove profitable for individuals with
private wealth, as it is revealed different parts of Europe are experiencing significantly skewed rates of growth.
The Organisation for Economic Co-operation and Development reports Germany had record gross domestic product expansion of 2.2 per cent during the second quarter of the...
Wednesday, 18 August 2010
AIC to discuss private wealth investment
The Association of Investment Companies (AIC) announced today (August 18th) it is to hold a round table debate on hedge funds.
Private wealth investment could benefit from the discussion to take place on September 15th, as it may provide insight into asset management strategies that have been much maligned following...
Wednesday, 18 August 2010
Corporate fiduciary features in George Osborne's speech
Corporate fiduciary was one feature of a speech given by chancellor of the exchequer George Osborne to media agency Bloomberg.
The wealth management expert suggested a lack of corporate fiduciary led to the banking crisis that began in August 2007, adding stronger regulation would help the UK pull out of the...
Tuesday, 17 August 2010
Wealth management experts consider consumer price indices
Wealth management experts may be among those examining the consumer price indices (CPI) released today (August 17th) by the Office for National Statistics (ONS).
The data shows CPI annual inflation has fallen slightly since June, down 0.1 per cent to 3.1 per cent in July.
Those with
private wealth invested in...
Tuesday, 17 August 2010
Private banking customers in 'London property bubble'?
Private banking customers may be more likely to enjoy what some experts are terming a property "bubble" in London, where prices are expected to be less affected by the recession than other parts of the country.
Timothy Lambert, head of consulting at Ducalian, noted wealthy areas in the capital such...
Monday, 16 August 2010
Offshore banking better outside Europe?
Offshore banking funds could provide better returns when they are based outside of Europe, as a recent report from the European Commission reveals inflation in the eurozone hit a 20-month peak in July.
High rates of inflation might erode profits on offshore banking accounts despite favourable tax conditions and may lead...
Monday, 16 August 2010
AIC: Investment company launches are rocketing in 2010
Investment company launches have increased significantly in 2010, more than doubling the number of new enterprises entering the market during the whole of 2009.
Corporate and
private banking groups may benefit from the "bumper" year for the sector, as the Association of Investment Companies (AIC) reports the trend has already...
Monday, 16 August 2010
Private wealth down as Scottish employment slows?
Private wealth may have been affected for those working or investing in Scotland, as recent figures reveal a slowdown in the employment market.
The Bank of Scotland revealed today (August 16th) permanent position availability fell for the first time in ten months and part-time job opportunities also decreased to their...
Friday, 13 August 2010
Corporate banking to benefit as Europe GDP increases 1%?
Corporate banking across Europe may have benefited, as Eurostat - the statistics office for the European Union - revealed gross domestic product (GDP) rose by one per cent in both the euro area1 (EA16) and the EU271 during the second quarter of the year.
Those in corporate banking could have seen...
Friday, 13 August 2010
Offshore banking to provide savers with diversified portfolio?
Offshore banking could help individuals develop a diversified portfolio, as one expert observes many are tired of low rates on returns on traditional savings accounts.
Patrick Connolly, head of communications at independent financial advisers AWD Chase de Vere, suggests savers are in "a difficult quandary" as those with
private wealth...
Thursday, 12 August 2010
Offshore banking 'a convenient way of managing finances'
Offshore banking can help people handle their finances and may benefit both individuals who live and work abroad and those who are seeking alternative wealth management strategies.
Foreign financial services have become more popular in recent years due to the ease of travelling and multinational companies providing expanding opportunities for employment...
Thursday, 12 August 2010
UKSIF: Socially-responsible investment is about making positive choices
Socially-responsible investment is about making a positive choice - rather than simply leaving certain companies out of an asset portfolio - according to one industry body.
The Sustainable Investment and Finance Association (UKSIF) notes socially-responsible disposal of funds "covers a wide range of investment techniques" and offers good returns.
Chief executive Penny...
Wednesday, 11 August 2010
Corporate banking experts worry as Bank delivers forecast?
Corporate banking experts may not have greeted the Bank of England's inflation and growth forecast with eagerness, as the governor painted a bleak picture of British finances over the next 12 months.
Mervyn King downgraded the expansion forecast and raised the inflation prediction, setting off a string of negative reactions in...
Wednesday, 11 August 2010
Socially-responsible investment up in Q2
Socially-responsible investment in quarter two was up by £1 billion year-on-year, according to data released today (August 11th).
The Investment Management Association (IMA) revealed socially-responsible assets enjoyed their highest net sales since the last quarter of 2007.
This could mean the alternative vehicles are gathering popularity as people seek ways to manage...
Wednesday, 11 August 2010
Investing private wealth in property 'remains a complex issue'
Investing
private wealth in property remains a complex issue despite some recovery from the troughs of the recession, one expert suggests.
Timothy Lambert, head of consulting at Ducalian, observes views on the housing market remain contradictory, with some buyers rushing to cash in on what they believe is the bottom...
Tuesday, 10 August 2010
Social investment outsourced to discretionary managers?
Social investment management may be outsourced to discretionary managers, as one body reveals 19 per cent of independent financial advisers (IFAs) use this method to conduct their investment business.
Financial research company Defaqto found alternative investments - such as socially responsible assets - are highlighted as a specialist area by...
Tuesday, 10 August 2010
Private wealth in gold 'supported by US uncertainty'
Private wealth invested in gold declined slightly today (August 10th) against a broadly strengthening dollar, as the value slipped below $1,200 an ounce in Europe.
Reuters reported uncertainty ahead of a monetary policy meeting of the US Federal Reserve due later on Tuesday helped hold the price of the precious...
Tuesday, 10 August 2010
Public wealth management to improve following 'radical Budget'?
Management of public wealth could improve, as a result of the "successful and radical" Budget drawn up in June this year, David Cameron has suggested.
An article by the prime minister due to be published in the Sunday Times addresses the Spending Review planned for October, which it is hoped will...
Tuesday, 10 August 2010
"Grounds for optimism" for private wealth in Scotland
Individuals with
private wealth in Scotland may feel their economic prospects are improving, as one expert notes positive signs are appearing in financial transactions in the country.
Dianne Paterson, residential property partner of legal firm Russel and Aitken, claims "there are grounds for optimism" when it comes to
private...
Monday, 09 August 2010
Scotland strong for private wealth investment?
Private wealth investment in Scotland might be favourable for those seeking good returns on assets, as a new report shows it was among the areas of the UK that saw the most significant increase in property prices in the years leading up to the recession.
Gary Styles, strategy, risk and...
Friday, 06 August 2010
Offshore investment expert: D-day will come with Bank quarterly inflation report
An offshore investment expert has suggested data due to be released next week by the Bank of England, combined with a Federal Reserve decision on interest rates, mean Wednesday is "D-day" for the pound and near-term UK economic performance.
Jeremy Cook, chief economist of overseas banking and foreign exchange consultancy World...
Friday, 06 August 2010
Private wealth 'to cover cost of living longer'
Private wealth may become increasingly important as a means of providing for people in their old age, as one market expert claims final salary pension schemes are sinking into deficit as members live longer in retirement.
Danny Cox, head of advice at Hargreaves Lansdown, claims the increasing cost of such...
Thursday, 05 August 2010
Private wealth in property 'has not become overvalued'
Private wealth invested in property has not become overvalued, it was suggested, as one expert says the UK's house price crash merits a "bigger upswing".
Ed Stanfield of Property Economics was responding to HSBC's Global Investment Report, which claimed Britain was one of the most attractive markets for property acquisition...
Wednesday, 04 August 2010
Stock market private wealth down as FTSE falls?
Private wealth invested in the stock market may have depreciated today (August 4th), as Britain's top share index fell one per cent during the morning session.
After a strong performance yesterday, speculators with
private wealth in energy groups could have been worst hit, as the price of crude oil...
Tuesday, 03 August 2010
'Shrewd investors' look to the US for wealth management
Wealth management through investing in property in the US would be a "shrewd" move, it has been claimed.
Freelance real estate journalist Marc Da-Silva advises those with
private wealth and others now is "a good time to buy" in the North American market.
He notes low house prices combined with a ...
Tuesday, 03 August 2010
Corporate banking group fined £5.6 million
Corporate banking body the Royal Bank of Scotland Group (RBSG) was today (August 3rd) fined £5.6 million by the Financial Services Authority (FSA), for failing to put in place sufficient checks and barriers to prevent breaches of UK fiscal sanctions.
The levy was handed down as a result of poor examination ...
Monday, 02 August 2010
Corporate fiduciary 'set to be examined' by the FRC
Corporate fiduciary may be among the issues earmarked for examination by the Financial Reporting Council (FRC), as it sets out to investigate the lessons learned from the global banking crisis.
The group will examine evolving markets and their impact on corporate fiduciary in terms of reporting, accounting and auditing of non-financial ...
Monday, 02 August 2010
Farmland 'fantastic' for wealth management investment
Wealth management investment in farmland is a "fantastic" direction to go in at the moment, according to one property specialist.
Mark McAndrew, head of farm and estate sales at Strutt & Parker, argues wealth management through buying countryside for food production is a positive move "from a capital growth perspective".
He notes ...
Friday, 30 July 2010
FSA: Corporate banking regulations examined
Corporate banking regulations are being examined by the Financial Services Authority (FSA), following the implementation last year of the Remuneration Code.
Designed to encourage effective risk management, it applies to corporate banking groups, as well as building societies and investment brokers.
The FSA investigation will focus on strengthening the code in a ...
Thursday, 29 July 2010
Private wealth clients 'should shop around for best rates'
Private wealth clients of financial service providers may be able to find better returns on their assets if they shop around to find the best deals in the market, it has been suggested.
Offshore banking may be one way to ensure profit-making asset deposits, as different tax laws could translate ...
Thursday, 29 July 2010
Corporate banking may benefit as economic sentiment rises
Corporate banking groups could benefit as new data reveals economic sentiment is improving across Europe.
The European Commission revealed today (July 29th) business confidence is up in the majority of member states, with the most noteworthy rise seen in Germany as the Economic Sentiment Indicator (ESI) grew four points in the ...
Wednesday, 28 July 2010
Private wealth management rising as spending falls?
Private wealth management through investment or stock market speculation may be on the rise, as research shows public spending remains depressed.
A report from the National Institute of Economic and Social Research (NIESR) describes the low public expenditure as a "drag" on the economy, saying net trade will provide the ...
Tuesday, 27 July 2010
Property wealth management 'should focus on London'
Wealth management through built assets would do well to focus on London property and other isolated international markets, it has been suggested.
Andrew Burrell, research partner at King Sturge, said the UK market was "patchy", noting there is evidence of both significant strength and ongoing weakness in internal demand.
London investment might ...
Thursday, 22 July 2010
Private clients 'should interact more with LSE'
Private client brokers are being encouraged to allow their customers to interact directly with the London Stock Exchange (LSE), as the group introduces a promotion aimed to persuade speculators to buy and sell without the help of an intermediary.
Share advisers with private clients will be given six months tariff-free ...
Thursday, 22 July 2010
Increasing retirement age 'set to affect private wealth'
Private wealth may be affected if the retirement age is raised too suddenly, which one legal expert argues is ’the wrong way to go’.
Responding to a suggestion by secretary of state for work and pensions Iain Duncan Smith, Robin Ellison, pensions expert at Pinsent Law firm, said the ...
Wednesday, 21 July 2010
OTS set to make wealth management easier
Wealth management may become easier following the creation of the Office of Tax Simplification (OTS), which aims to reduce the complexities surrounding certain areas of personal and commercial tariffs.
Yesterday’s (July 20th) announcement by chancellor George Osborne focused on making the system simpler for nationals and global businesses, adding the ...
Tuesday, 20 July 2010
Private wealth in the north-west 'among the worst hit'
Individuals with
private wealth in the north-west may be some of the worst affected by public sector job cuts, as Manchester and Liverpool stand to lose almost 8,000 posts each.
Local Futures has developed a ’barometer’ of government employment cuts, which shows concentrations of job losses in cities ...
Monday, 19 July 2010
Wealth management expert: Joining the euro will bring few benefits
A wealth management expert from Oxford Economics has argued joining the single European currency would be of little advantage to Britain.
Corporate banking groups may agree, as the financial academic Andrew Goodwin noted loss of control over interest rates is the main issue of the potential move.
Claiming interest rates ...
Thursday, 15 July 2010
Private banks 'should take action on carbon reduction targets'
Private banks and other businesses would be wise to implement schemes to reduce their carbon emissions, according to one sustainability specialist.
Harry Morrison, general manager of the Carbon Trust, said the CRC Energy Efficiency Scheme has received parliamentary approval and is now in the implementation phase, arguing commercial interests should ...
Thursday, 15 July 2010
Corporate banking considers possibility of EMU departures
Corporate banking groups may be contemplating the future in the face of possible departures from the European Monetary Zone (EMU), as experts note countries opting out of the scheme is now a possibility.
Martin Bamford, a financial expert with Informed Choice, said a break-up of the single European currency ’would be ...
Thursday, 15 July 2010
Private wealth 'at risk of double-dip recession'
Private wealth and commercial assets are at risk of a double-dip recession, one expert has warned.
Dr Howard Archer, chief European and UK economist for IHS Global Insight, argued the private sector still hasn’t recovered from the global downturn and will be unable to make up for the shortfall ...
Wednesday, 14 July 2010
Socially responsible investment down in Q2
Socially responsible investment in charities has fallen by more than seven per cent in the last three months, according to one market analyst.
Third Sector reveals donation-dependent organisations have lost more than two per cent in revenue since the beginning of 2010, as individuals may choose to confer ...
Wednesday, 14 July 2010
New data service for private wealth investors
Individuals who buy shares using
private wealth may welcome news the London Stock Exchange Group is launching a new service, providing information after UK markets close.
Private wealth invested in Britian’s top share index could be increased if the out-of-hours statistics give an insight into speculator trends ...
Tuesday, 13 July 2010
EC regulation seeks to improve corporate fiduciary
Corporate fiduciary is being addressed under new regulations proposed by the European Commission (EC) to restore confidence in the finance sector.
Those with
private wealth managed through investment may welcome measures to ensure better information regarding asset coverage, which could lead to enhanced awareness of investment risk.
The ...
Monday, 12 July 2010
New inflation measure may affect wealth management
Wealth management may change in the face of government plans to alter the inflation measure used to calculate retirement payments.
Pensions minister Steve Webb recently outlined plans to link disbursements for final salary schemes to the consumer prices index (CPI) rather than the retail prices index (RPI).
Director of Churchouse Financial ...
Monday, 12 July 2010
Scottish private wealth could decline
The
private wealth of Scottish individuals may have been affected by a recent slowdown in economic recovery reported by the Royal Bank of Scotland.
Bank data reveals private sector performance in the most northerly part of the British Isles declined in June and trailed behind UK-wide performance.
Friday, 09 July 2010
Corporate banking may suffer from slower expansion
A slow-down of economic expansion has been predicted, which could mean falling profits for corporate and
private banking groups.
The Organisation for Economic Co-operation and Development (OECD) today (July 8th) released composite leading indicators (CLI) for May, which indicate global markets will continue to expand, but at a ...
Friday, 09 July 2010
Private wealth investment may await sterling peak
Foreign
private wealth investors considering buying UK assets could decide to hold off major decisions as the pound rallies against the euro.
Robin Wilson, head of overseas at property investment specialists Rightmove.co.uk, argued: ’Rising sterling rates may [make] people sit on their hands and try to call the top ...
Thursday, 08 July 2010
Wealth management strategies could focus on London property
Wealth management through investing in retail estate is a common strategy, but one market expert suggests some properties may offer better returns than others.
Naomi Heaton, chief executive of London Central Portfolio, said residences costing between £500,000 and £1.5 million are the ’sweet spot’ of the market, as they attract ...
Thursday, 08 July 2010
Wealth management expert predicts unchanged interest rates
One industry commentator expects interest rates to remain unchanged ahead of today’s (July 8th) decision by the Bank of England Monetary Policy Committee (MPC).
Wealth management and investment is affected in both the short and long term by interest rates, so many industry professionals and individuals with
private wealth ...
Wednesday, 07 July 2010
Private banking awaits interest rate rise
Private banking decisions could be based on tomorrow’s (July 8th) interest rate policy.
The Bank of England’s Monetary Policy Committee (MPC) will meet on Thursday and decide whether to keep the base rate at the historic low of 0.5 per cent.
A low interest rate has impacted upon...
Wednesday, 07 July 2010
Private wealth management 'changed' following recession
Private wealth management has altered in the wake of the economic crisis, according to new industry statistics.
The British Bankers’ Association (BBA) has published data showing wealth management clients are more likely to reduce the amount they owe in loans, focusing instead on making increased savings deposits.
Meanwhile, corporate ...
Tuesday, 06 July 2010
Private wealth in British shares may increase
Individuals with
private wealth invested in UK stocks could see gains today (July 6th), as Britain’s top shares climb rapidly in response to renewed investor risk appetite.
Private wealth placed in financial and commodity funds benefited from traders seeking bargain prices snapping up shares which had lost ...
Monday, 05 July 2010
Kleinwort Benson recognised for strong wealth management performance
In a recent survey of wealth management and investment firms, Kleinwort Benson was found to have given the best returns in 2009, with the average performance of private clients’ balanced portfolios in the company standing at 25.7 per cent.
The Financial Times found the wealth management provider best reflected last ...
Friday, 02 July 2010
Excess regulation 'could make wealth management more difficult'
Wealth management using consumer credit could become more difficult if over-regulation is revealed to be ’burdensome’, according to one industry observer.
Many individuals use financial products, such as store cards and bank loans, for wealth management, but the Finance and Leasing Association today (July 2nd) warns of ’unintended and potentially ...
Friday, 02 July 2010
Stewardship code aims to support corporate fiduciary
Corporate fiduciary is now subject to the first Stewardship Code for institutional investors, which has been published by the Financial Reporting Council (FRC).
The aim of the new initiative is to promote better communication between company boards and shareholders, improving corporate governance quality.
Principles included within the code are managing conflicts of ...
Thursday, 01 July 2010
Charity bank accounts boosted by record Gift Aid claims
Charities’ bank accounts may have received a welcome addition from Gift Aid this year, as the amount claimed so far in 2010 is the highest it has ever been.
Social investment in charities and individual giving dropped off in the wake of the recession, meaning third sector organisations ...
Thursday, 01 July 2010
Corporate fiduciary comes under the spotlight
Corporate fiduciary is the subject of a recent discussion paper released by the Financial Services Authority (FSA) and Financial Reporting Council (FRC).
The report recommends enhanced auditor regulation of corporate banking, including reporting and assurance support, in order to improve public confidence in the sector.
Management bias and a ’sufficiently ...
Wednesday, 30 June 2010
Wealth management firms 'should deliver better services'
Many wealth management companies offering with-profits funds fail to provide adequate information and support to clients, according to one industry watchdog.
Private wealth management advisers might recommend with-profits funds to customers seeking long-term capital growth.
However, a recent review by the Financial Services Authority (FSA) found poor fund governance means ...
Tuesday, 29 June 2010
Offshore banking business may benefit from market fears
Offshore banking businesses and other ’safe’ investments could see increased interest from wealth management professionals amid persistent fears over market growth.
Strong demand for the yen contrasted with falling euro performance, indicating concern regarding eurozone economic woes and inconsistent global growth, reports the Financial Times.
Investors considering offshore banking may also fear ...
Monday, 28 June 2010
Pension wealth management 'must be controllable'
The pension system in the UK needs to remain controllable, the chief executive of the National Association of Pension Funds has argued.
Commenting on potential changes to the UK pensions arrangements announced by the government last week, Joanne Segars argued the Conservative-Liberal Democrat coalition needs to work alongside industry bodies in ...
Monday, 28 June 2010
Future economic growth 'driven by green social investment'
Social investment in green initiatives is key to future economic growth in the UK, a leading environmental charity has argued.
According to Friends of the Earth, the implementation of a green investment bank - an idea first pitched by the last Labour government - is central to encourage movement ...
Friday, 25 June 2010
Charity banking 'is hit by Budget VAT rise'
Charity banking will take a hit when the new VAT rate of 20 per cent comes in from January 4th 2011, it has been said.
The Charity Tax Group (CTG) stated the rise will increase the burden already felt by charities.
’Vital work’ will be impacted upon as such organisations ...
Friday, 25 June 2010
Emergency Budget: North has "mixed reaction"
Business leaders in the north are relieved that capital spending will not be reduced, it has been reported.
Writing for the Financial Times, Andrew Bounds said news from Chancellor of the Exchequer George Osborne that projects such as the London-Sheffield train network upgrade will be left alone has rallied the north ...
Wednesday, 23 June 2010
2010 Budget: Corporate banking clients to pay higher VAT
Small and medium-sized clients of the corporate banking sector may be concerned by yesterday’s (June 22nd) announcement that VAT will rise to 20 per cent next year.
Chancellor of the Exchequer George Osborne revealed from January 4th VAT will increase from its current level of 17.5 per cent.
The Federation of Small ...
Monday, 21 June 2010
Wealth management at risk from "underlying problem"
Companies in sectors such as corporate banking and wealth management still suffer the ’underlying problem’ of a savings disaster.
This is the opinion of Michael Baxter - editor of Investment and Business News - who said the key issue is not global debt, but firms and countries saving money and not ...
Monday, 21 June 2010
Culture change on the cards within corporate banking sector?
Regulators should take a greater role in overseeing company culture in the corporate and
private banking sector.
This is the claim made by Hector Sands, chief executive of the Financial Services Authority (FSA).
Speaking to the Chartered Institute for Securities and Investment, he expressed his belief that behavioural matters and ...
Wednesday, 16 June 2010
Gold remains popular choice for wealth management
Individuals and groups that use gold trading for wealth management have enjoyed an overall value appreciation since the global economic crisis began two years ago.
The commodity was at an all-time high of £844.70 last week, following a long-term trend of gain spanning five months, reports market specialist Seeking Alpha.
Wednesday, 16 June 2010
Wealth management advisers 'should be more responsible'
Wealth management advisers were among the priorities mentioned by a team of market specialists discussing ways to improve financial services.
Socially-responsible corporate banking was also considered an important issue by representatives from the Financial Services Consumer Panel (FSCP).
Recommended measures included ’dependable later life products’ - these may be welcomed by ...
Wednesday, 16 June 2010
Private client wealth management 'sets its sights on London'
Foreign
private wealth investors seeking favourable assets may find London property increasingly attractive, according to one industry expert.
Wealth management through estate retail has long been considered a solid move, yet demand has fallen among UK residents recently due in part to poor credit availability.
Andrew Teacher, media manager at ...
Monday, 14 June 2010
Wealth management may suffer from forecast downgrade
Corporate and
private wealth management could be affected if an announcement by the new fiscal watchdog points to weaker growth than predicted by the Labour government.
Private banks and corporate investors may have expected little change in the three per cent expansion rate projected by former chancellor Alistair Darling. ...
Friday, 11 June 2010
Corporate banking could be subject to new failure measures
The corporate banking sector could expect new guidelines on bailouts in the event of failure, if changes supported by the British government go ahead.
Michel Barnier, the European Union’s (EU) internal markets commissioner, said the proposals would limit the power of future European financial regulators.
Governments would be under no ...
Friday, 11 June 2010
Private wealth management 'should not rely on property'
Property has long been considered a strong investment choice for wealth management, but new research indicates this may be changing as a result of the recession.
More than three-quarters of individuals with
private wealth believe a retirement fund based solely on property is ’too risky’, according to data published ...
Wednesday, 09 June 2010
Private wealth management 'turns towards London'
International
private wealth management advisers may be promoting London property as a solid investment in the wake of the recession.
Falling property prices combined with a weak pound could have tempted individuals interested in wealth management to convert their assets to property in the capital.
A report by Savills ...
Monday, 07 June 2010
Credit rating regulation may affect private and corporate banking
Wealth management and investment services should not place too much emphasis on the reports of individual Credit Rating Agencies (CRAs), according to one chartered financial planner.
Martin Bamford from Informed Choice made the statement in response to European Commission (EC) calls for stronger regulation for CRAs.
The proposals include measures to guarantee ...
Friday, 04 June 2010
Private wealth investors await US payrolls data
Both the FTSE 100 and the value of sterling have risen this morning ahead of the release of non-farms payroll data for May in the US.
The figures are expected to be positive, with a poll conducted by Reuters forecasting 513,000 jobs will have been created in the country last month.
And ...
Thursday, 03 June 2010
Private wealth hedge fund investors 'at risk'
There are ’serious concerns’ over the ability of those using their
private wealth to invest in hedge funds to make the correct allocation decisions.
This is the conclusion of new research from the European School of Management and Technology (ESMT), which has been produced ahead of the anticipated increase ...
Thursday, 03 June 2010
Social investment reputation 'damaged' by financial crisis
The financial crisis has damaged the reputation of companies in terms of the
social investment they carry out, it has been claimed.
In an article for the Financial Times, head of sustainability for the Institute of Chartered Accountants of England and Wales Richard Spencer said there is ’a strong ...
Thursday, 03 June 2010
Gold price increase 'could challenge record high'
Increasing demand from those looking to invest their
private wealth in a safe haven asset could help the price of gold come close to a record high this month.
This is the view of managing director of CWA Global Markets Peter McGuire, who was quoted by Reuters as saying ...
Tuesday, 01 June 2010
BP leads sharp FTSE falls
Those using their
private wealth to trade on the FTSE 100 will have seen the index fall sharply in the morning session today (June 1st), led by a large decline from BP.
The oil giant’s shares were down by as much as 12 per cent, on the back of ...
Friday, 28 May 2010
FRC outlines new governance standards
Those with
private wealth invested in listed companies could get more power over its operations as a result of new governance standards issued by the Financial Reporting Council (FRC).
Among the changes to the existing code is the need for all directors of firms inside the FTSE 350 to ...
Friday, 28 May 2010
Gold rises again for private wealth investors
Investors using their
private wealth to trade in gold are set to see the precious metal record its second consecutive monthly price increase.
According to Bloomberg, bullion for immediate delivery is up 3.1 per cent for the week and 2.9 per cent for May as a whole.
At 15:55 local ...
Thursday, 27 May 2010
OFT launches banking regulation review
The Office of Fair Trading has launched a review that could encourage the growth of
private banking services in the UK.
It is to examine the barriers to entry, exit and expansion in the retail banking industry in an effort to make it easier for firms to expand according ...
Thursday, 27 May 2010
Private wealth investors see FTSE rise
Investors using their
private wealth to trade on the stock market will have seen the FTSE 100 climb during the morning session today (May 27th).
Reuters reports the index was up 0.8 per cent to 5,077.47 points at 09:25 BST, thanks largely to gains from mining and energy companies.
BG ...
Wednesday, 26 May 2010
Pensions a growing risk for businesses, survey finds
Employers now see final salary pensions as the second largest risk to their operations, research from Aon Consulting has concluded.
Demand for corporate banking services from businesses could be set to rise, as the management of pensions is now second only to the current economic environment in terms of firms’ biggest ...
Wednesday, 26 May 2010
New register 'to boost charity investing'
Charity investing could be given a boost by a new register aimed at reassuring lenders that are worried about giving money to such an organisation.
According to Third Sector, the proposal has been put forward by the Directory of Social Change (DSC), which intends to make the list available ...
Wednesday, 26 May 2010
Reducing investment over the summer 'still a good approach'
The traditional trading approach of ’sell in May and go away’ is still applicable despite the rise of newer strategies for investing
private wealth.
This is according to new research from Standard and Poor’s, which revealed there is no major European market where average performance over the summer is ...
Tuesday, 25 May 2010
Could charity bank accounts be under threat?
Lawyers have criticised budget cuts being made within the charity sector.
Charity bank accounts may be affected by the £900,000 reduction in the Charity Commission’s budget, Third Sector reported.
It covered a charity law conference that was held in the wake of the government announcement.
Delegates at the event were addressed ...
Monday, 24 May 2010
Corporate banking 'saw businesses adapt during recession'
Commercial banking firm HSBC said businesses adapted better than expected during the recession.
Debt was reduced during the economic downturn and companies preserved cash well, head of commercial banking for HSBC Noel Quinn said.
’I wouldn’t say we are out of the woods yet as there is still a long road to ...
Monday, 24 May 2010
Corporate banking 'helps entrepreneurs from diverse backgrounds'
Corporate banking could be helping an increasing number of individuals from diverse backgrounds set up their own business.
According to Barclays Business, many people who lost their jobs during the economic downturn have had no other option but to start their own firm, which in many cases will have seen them ...
Friday, 21 May 2010
US Senate passes financial sector regulations
Plans to introduce new regulations governing the financial sector in the US have been approved by the Senate.
The changes, which will be the biggest overhaul of rules applying to the sector since the 1930s, were passed by 58 votes to 39.
Increased governance for banks and capital markets will be brought ...
Friday, 21 May 2010
Reducing corporate tax a "worthwhile goal"
Bringing down corporation tax in the UK is a ’worthwhile goal’, as it would improve economic growth in the country.
This is the view of chartered financial planner at Informed Choice Martin Bamford, who said such a move would benefit both shareholders and taxpayers.
Bringing down tax may also help tempt back ...
Thursday, 20 May 2010
CIOT calls for clear tax policies
The new coalition government should resist the temptation to introduce further legislation that would complicate what is already one of the world’s most complicated tax regimes.
This is the view of new president of the Chartered Institute of Taxation (CIOT) Vincent Oratore, who has written a letter to chancellor George Osborne.
Adding ...
Wednesday, 19 May 2010
Gold dips for private wealth traders
The value of gold has fallen during trading today (May 19th), as investors using their
private wealth to trade in the precious metal carried out profit taking.
Its price has dipped by around one per cent to approximately $1,207 (£846) an ounce, Reuters reports, as those operating on the ...
Monday, 17 May 2010
Impact of 50% tax 'not as bad as feared'
Fears that the new 50 per cent tax on high earners would lead to an exodus from the City may have been overstated.
According to new research from finance recruitment firm Selby Jennings, senior bankers in London have largely managed to protect their
private wealth, as they are still ...
Monday, 17 May 2010
Government sets emergency Budget date
The new coalition government has chosen June 22nd as the date it will hold its emergency Budget.
Making the announcement today (May 17th), Conservative chancellor George Osborne said the administration will also reveal how it plans on making £6 billion of cuts this year on May 24th.
The Conservatives promised before the ...
Friday, 14 May 2010
Recession not over, personal wealth advisory body warns
It is wrong to assume the economic downturn in the UK is over, one financial advisory body has warned.
According to Mike Fosberry, president of the Personal Finance Society, concerns over unemployment and limited economic growth mean there are still a number of threats to the country’s economic performance, despite the ...
Friday, 14 May 2010
Investors 'to begin disposing private wealth assets'
Those with high levels of
private wealth are expected to start selling off some of their assets in anticipation of the expected increase in the capital gains tax.
Individuals will be looking to dispose of their second homes and shares over the coming days in a bid to avoid ...
Friday, 14 May 2010
EU ambassadors reach draft hedge fund regulation agreement
New draft measures that increase regulation of hedge funds and could affect wealth management have been agreed by European Union (EU) ambassadors, despite opposition from the UK.
EU representatives have struck a deal that will force hedge funds and private equity groups to register and agree to pay limits, as well ...
Thursday, 13 May 2010
Corporate banking sector 'could see positive signs for growth'
Institutions within the corporate banking sector may see more of their customers asking for credit for expansion.
According to a new study by Lloyds TSB, businesses are, in part, more confident about growth prospects.
Companies are also feeling brighter about the wider UK economy than they were three months ago, the bank’s ...
Thursday, 13 May 2010
Private and corporate banking reform part of coalition government agreement
Private and corporate banking companies will be reformed under the new agreement between the Liberal Democrats and the Conservatives.
In a statement released yesterday (May 13th) by the Tories, the two parties have agreed the banking system needs to be changed to prevent future financial downturns occurring as a result of ...
Wednesday, 12 May 2010
Private banking complaints revealed by FSA
The numbers of corporate and
private banking complaints have been revealed by the Financial Services Authority (FSA).
Between July and the end of December last year, the overall level of complaints by banking customers increased to 2.6 million, while grievances about banking products shot up to 2,014,371.
According to the ...
Wednesday, 12 May 2010
Corporate banking could open its doors after new prime minister announced
The corporate banking sector could increasingly open its doors to small companies that require credit for expansion plans and other future goals.
Conservative David Cameron is the new prime minister of the UK, while Liberal Democrat leader Nick Clegg is his deputy.
In response to the political announcements, the Federation of Small ...
Tuesday, 11 May 2010
Corporate banking sector could see 'businesses without confidence'
The corporate banking sector may see a dip in firms that want to secure a loan for expansion plans.
According to a new survey by the Federation of Small Businesses (FSB), over 50 per cent of small organisations will not introduce new services or products or hire new employees in the ...
Monday, 10 May 2010
Corporate banking lending 'more positive with Conservatives'
Corporate banking lending is one way businesses feel their futures could be more secure, it has been suggested.
A new poll by Travelex Global Business Payments has revealed 38 per cent of firms questioned believe the Conservatives would be the best party to encourage banks to lend to firms.
However, with the ...
Friday, 07 May 2010
Private wealth taxes 'to boost government revenue'
New taxes on those with high levels of
private wealth will help boost the government’s income tax revenue this financial year.
This is according to new figures from HM Revenue and Customs (HMRC), which has predicted income tax generated in 2010/11 will be £10 billion higher than the figure ...
Friday, 07 May 2010
New government 'must focus on fiscal deficit'
The new government needs to work together and focus on bringing down the UK’s fiscal deficit ’as soon as possible’.
This is according to head of research from MoneyExpert.com Pierre Williams, who urged the three main parties to agree on a blueprint for tackling the problem.
A hung parliament was confirmed this ...
Friday, 07 May 2010
Pound falls as hung parliament confirmed
Those using their
private wealth to trade in sterling have seen the value of the currency fall this morning (May 7th) following the result of yesterday’s general election.
The Conservative Party had been confirmed as winning a minimum of 291 seats at 10:15 BST, but the first hung parliament ...
Thursday, 06 May 2010
Spreading of Europe's bond market problems 'a key concern'
The uncertainty currently surrounding the European bond markets and the possibility they could spread to the UK is ’one of the key concerns’ at present, according to one expert.
Those using their
private wealth to trade on the financial markets will have seen stocks fall over recent days on ...
Thursday, 06 May 2010
Traders turn to gold to protect private wealth
Gold priced in euro has reached a record high today (May 6th) as investors look to safeguard their
private wealth from the ongoing debt problems in Europe.
According to Bloomberg, the precious metal reached €921.2842 (£780.5801) during trading this morning, before retreating slightly.
Traders have turned to the commodity as ...
Wednesday, 05 May 2010
Private wealth taxes 'to rise after election'
Those with high levels of
private wealth can expect their personal taxes to rise after the general election.
The Financial Times reports experts believe all three main political parties will be forced to announce further tax increases if they win the election, as they have only revealed ’a fraction’ ...
Tuesday, 04 May 2010
Private wealth currency traders see sterling fall
The value of the pound has fallen during a subdued morning session of trading today (May 4th) as investors await the general election later this week.
Those using their
private wealth to trade on the Forex markets have seen sterling fall in value for the third successive day, with ...
Tuesday, 04 May 2010
Investing in wine will offer "a very nice return"
Investors looking to use their
private wealth to make alternative investments might want to consider purchasing wine.
According to Gary Boom, managing director of fine wine trading firm Bordeaux Index, the beverage can be an ideal investment, provided the correct bottles are selected.
He explained the new 2009 Bordeaux wines ...
Friday, 30 April 2010
Private wealth investors see European shares climb
Those who have invested a portion of their
private wealth into European stocks and shares have seen markets climb during trading this morning (April 30th).
Indexes have edged higher on optimism Greece will receive a package of financial assistance in the near future, with banks among the strongest performers ...
Friday, 30 April 2010
UK GDP 'to grow 1% in 2010'
Gross domestic product (GDP) will grow by one per cent this year before accelerating slightly in 2011 and 2012, according to a new forecast from the National Institute of Economic and Social Research (NIESR).
The body said slow expansion in 2009 will be the result of a drop in the pace ...
Thursday, 29 April 2010
UK's private wealth funds market 'is competitive'
Recent legislative changes have helped the UK become a competitive domicile for those looking to invest their
private wealth in tax-efficient funds.
This is the opinion of director of authorised funds and tax at the Investment Management Association (IMA) Julie Patterson, who said ’significant changes to legislation’ have helped ...
Thursday, 29 April 2010
Gold rises for private wealth traders
The value of gold has climbed for those using their
private wealth to invest in the precious metal due to speculation the debt problems in Europe will prompt demand for the commodity to rise.
Gold, which is traditionally seen as a safe haven in times of financial uncertainty, was ...
Thursday, 29 April 2010
Private wealth traders boosted by FTSE rise
Investors using their
private wealth to trade on the stock market have seen the FTSE 100 rebound during morning trading today (April 29th).
The index has been boosted by strong quarterly results from a number of listed firms, after suffering earlier in the week due to the fallout of ...
Tuesday, 27 April 2010
Private banking services told of FSCS progress
Private banking services have been told consumers could claim up to £50,000 if they have lost money through certain investment firms.
The Financial Services Compensation Scheme (FSCS) has said some individuals may be able to make a claim against investment companies that were declared in default on or after ...
Tuesday, 27 April 2010
$85 a barrel for oil 'reasonable'
Individuals who use their
private wealth for investing in oil have been informed that an oil price of $85 (£55) a barrel is a ’reasonable level’, according to Reuters.
Head of research at the Organization of the Petroleum Exporting Countries (Opec) Hasan Qabazard told the news agency such a ...
Thursday, 22 April 2010
Recession hits charity investments
The recession has caused a substantial dip in
charity investment that is affecting a number of the UK’s largest charitable bodies.
New research by Cass Business School shows charities have lost £23 million in assets during the downturn.
The UK’s biggest 500 fundraising charities saw their collective investment fund value ...
Friday, 16 April 2010
Exporting 'key to UK emerging from downturn'
Exporting to emerging economies is one way the UK can recover from the current financial crisis, according to one investment expert.
Michael Baxter, editor of Investment and Business News, said it is ’verging on pathetic’ that the UK’s trading partners have remained largely unchanged over the centuries.
His comments may be of ...
Friday, 16 April 2010
Televised debate results in sterling dip
The outcome of the televised election debate last night (April 15th) has caused the price of sterling to decline for those using their personal wealth to trade in the currency.
Leaders from the three main political parties discussed their polices live on air for the first time in British history, with ...
Wednesday, 14 April 2010
Private sector investment 'needed to drive economy'
Those with high levels of personal wealth are likely to be contributing to the recovery of the British economy.
This is according to chief economist at the Institute for Public Policy Research Tony Dolphin, who explained investment in the private sector will be key to future expansion.
’Growth will have to be ...
Wednesday, 14 April 2010
Election fears hamper sterling gains
Investors using their personal wealth to trade on the Forex markets will have seen any potential gains in sterling hampered by continued worries over the upcoming general election today (April 14th).
According to Reuters, fears that a hung parliament could be created when voters go to the polls on May 6th ...
Tuesday, 13 April 2010
February hedge fund inflows reach $16.6bn
Global hedge funds took in $16.6 billion (£10.7 billion) of new funding during February, latest figures have revealed.
The strong returns recently seen in the industry means pension funds and individuals with high levels of personal wealth have increased their interest in making investments, TrimTabs Investment Research and BarclayHedge said.
Hedge funds ...
Tuesday, 13 April 2010
Former Northern Rock bosses disciplined by FSA
The Financial Services Agency (FSA) has issued fines and bans to two former Northern Rock directors.
Davis Baker, ex-chief executive at the bank, has been ordered to pay £504,000 for inaccurately reporting mortgage arrears figures.
He held the position at Northern Rock from January 2004 to March 2008 and has also been ...
Monday, 12 April 2010
Gold up as dollar dips
Investors using their personal wealth to trade in gold have seen the value of the precious metal rise during trading today (April 12th).
According to Bloomberg, the metal - which has an inverse relationship with the dollar - touched a four-month high early in the day.
It rose 0.7 per cent to ...
Friday, 09 April 2010
FSA raising pension switching concerns
The Financial Services Authority (FSA) has raised concerns that some businesses are still failing to meet pension switching standards.
It has today (April 9th) published the results of recent work it has been carrying out in order to improve this aspect of the financial sector and noted that while many companies ...
Thursday, 08 April 2010
Corporate banking risk management could reflect OECD predictions
The corporate banking sector in the G7 countries could take heed from a new report that has said gross domestic product (GDP) in the US is likely to grow faster than the three largest euro area countries.
GDP in France, Germany and Italy will not grow as quickly as that of ...
Thursday, 08 April 2010
Private wealth could gravitate towards white metals
Investors may want to use their
private wealth to purchase shares in white metals such as platinum and palladium, rather than focussing on gold.
A new report has revealed that interest in platinum is increasing among investors, backed by the global economy beginning to show signs of recovery, particularly ...
Wednesday, 07 April 2010
CIOT criticises planned tax legislation
The government needs to start afresh with its planned legislation that will apply to tax agents seen to be carrying out deliberate wrongdoing.
According to the Chartered Institute of Taxation (CIOT), the current proposals should be scrapped, as they could result in tax advisers not acting illegally being subject to prosecution.
Under ...
Wednesday, 07 April 2010
CBI calls for public sector pensions overhaul
The Confederation of British Industry (CBI) has called for changes to be made to the current public sector pensions model.
New research produced by the body has revealed a need to switch to a more affordable alternative in an effort to limit a ’£1 trillion burden’ that will affect taxpayers.
Its ’Getting ...
Tuesday, 06 April 2010
New 21-month high reached by FTSE
The FTSE 100 has touched a new 21-month high after climbing 0.5 per cent during trading today (April 6th).
Investors who have used their personal wealth to purchase energy and mining stocks are likely to welcome the news, as it is these two categories that have helped the FTSE reach 5,772.11 ...
Tuesday, 06 April 2010
Accountants working to solve 50 per cent tax demands
Many accountants have been working ’around the clock’ to help protect the personal wealth of their clients from the new income tax increase, which came into force today (April 6th).
This is according to a report in the Financial Times, which noted a number of firms, including Deloitte, have observed an ...
Wednesday, 31 March 2010
Financial services sector upbeat about Q2
The UK’s financial services sector performed slightly better than expected during the past quarter, with businesses expecting further growth in the coming three months.
According to a new report from the Confederation of British Industry (CBI) and PricewaterhouseCoopers, 43 per cent of respondents to the survey saw their volumes rise in ...
Wednesday, 31 March 2010
Hung parliament 'would hurt economic recovery'
The creation of a hung parliament at the upcoming general election will damage the recovery of the UK’s economy.
This is according to a new survey of financial services practitioners carried out by the Chartered Institute for Securities & Investments, which found 59 per cent of respondents believe a parliament where ...
Tuesday, 30 March 2010
FSA launches client asset consultation
The Financial Services Authority (FSA) has launched a new consultation regarding proposed changes to its client asset rules.
It is the result of work done by the body since the collapse of Lehman Brothers in 2008 and aims to ensure clients have confidence the personal wealth and assets they have invested ...
Tuesday, 30 March 2010
Tax-effective charitable giving 'can help high earners'
High earners can cut the tax burden of the upcoming 50 per cent levy on salaries over £150,000 by carrying out tax-effective charitable giving.
This is according to the Charities Aid Foundation, which has urged such individuals to carry out
charity investing by contributing through a payroll giving scheme ...
Tuesday, 30 March 2010
FTSE touches new 21-month high
The FTSE 100 has risen to a fresh 21-month intra-day high during trading on the stock markets this morning (March 30th).
By 08:50 BST the index was up 10.55 points to 5,721.21 points, having earlier reached 5,742.75 points, Reuters reports.
Those using their personal wealth to trade in commodity stocks will have ...
Tuesday, 30 March 2010
Sterling climbs on currency markets
Those investing their personal wealth in the currency markets will have seen the value of sterling rise against the dollar during trading this morning (March 30th).
According to Reuters, the pound hit a high of $1.5060 early in the session, before retreating slightly to be priced at $1.5038 at 08:27 GMT, ...
Tuesday, 30 March 2010
Transferred pension scheme liabilities 'to increase in value'
The value of transferred pension scheme liabilities is likely to rise during 2010, new research has concluded.
According to a study by MetLife Assurance, the majority (66 per cent) of trustees investing their personal wealth in this area predict the value of transferred UK pension scheme liabilities will increase by over ...
Monday, 29 March 2010
FSA wants stronger risk management at building societies
Confidence in both corporate and
private banking could rise after the Financial Services Authority (FSA) has revealed plans to strengthen the risk management procedures of building societies.
From April 1st, those that do not meet the benchmarks set by the FSA will face inflexibility regarding how they operate.
If their ...
Friday, 26 March 2010
US GDP figures anticipated by investors
Many investors using their personal wealth to trade on the stock market are waiting for the release of US gross domestic product (GDP) figures before making their moves today (March 26th), according to one expert.
Joshua Raymond of City Index noted the market ’is expecting no change to last month’s revised ...
Friday, 26 March 2010
Green investment bank announcement welcomed
The creation of a new green investment bank to encourage spending that will help the UK move to a low-carbon economy has been welcomed by one environmental group.
Alistair Darling confirmed the decision in this week’s budget and it was met with approval by Green Alliance associate Chris Hewitt, who said ...
Friday, 26 March 2010
New consultations 'to hit tax planning'
Consultations due to take place this summer could result in the government clamping down on tax planning strategies.
In his Budget speech earlier this week, chancellor Alistair Darling said discussions on the issue of how to tax returns generated from geared growth arrangements are due to take place in the coming ...
Thursday, 25 March 2010
Kleinwort Benson reacts to the Budget
Jeremy Beckwith, Chief Investment Officer at leading UK and Channel Islands private bank and wealth management group, Kleinwort Benson, today comments on [1]what is likely to be Alistair Darling’s final Budget. "With a General Election around the corner this was a Budget of
little economic significance, not only because it is likely to be superseded by a Summer Budget from the incoming government, but also because all of the announcements were (by Treasury standards) of very little significance.
Thursday, 25 March 2010
Investors 'should not be excluded from bank asset sales'
Those wanting to use their personal wealth to invest in government-run banks should not be ignored when the sale occurs.
This is according to chief executive of Interactive Investor Tomas Carruthers, who was commenting following yesterday’s Budget announcement that the government intends to sell its stakes in Lloyds Banking Group, Northern ...
Thursday, 25 March 2010
Inflation likely to fall, expert predicts
Inflation is likely to fall in the long term rather than rise as some commentators are expecting, one economist has predicted.
Commenting after figures from the Office for National Statistics revealed the consumer prices index was down by 0.5 percentage points to three per cent in February, editor of Investment and ...
Wednesday, 24 March 2010
Euro dips amid EU worries
Worries over the strength of the European Union (EU) have caused the euro to hit a record low against the Swiss franc today (March 24th).
Reuters reports European currency fell to €1.4232 (€1.4232) against its Swiss counterpart, while Bloomberg put the amount fractionally higher on €1.4233.
The decline came after France and ...
Tuesday, 23 March 2010
Inflation slows by more than expected
Inflation in the UK decreased by 0.5 percentage points last month, according to new official data.
Figures from the Office for National Statistics revealed the Consumer Prices Index (CPI) declined to three per cent in February, down from the 3.5 per cent figure recorded in January.
The dip was greater than analysts ...
Tuesday, 23 March 2010
Tax rises 'the biggest threat to investors'
Investors see tax rises as the biggest obstacle to gaining returns from their
private wealth ahead of the upcoming general election.
This is one of the findings of new research from the Association of Investment Companies (AIC), which found 45 per cent of active investors perceive changes to tax ...
Tuesday, 23 March 2010
High earners 'to get bonuses early to beat tax'
Some UK employers are to attempt to preserve the
private wealth of their executives by paying out bonuses early in a bid to beat the new income tax rate.
From April 6th, those who earn over £150,000 per year will be subjected to a 50 per cent levy on ...
Monday, 22 March 2010
'Green bank' to be launched in this week's Budget
A ’green bank’ aimed at helping the UK switch to a low-carbon economy is to be announced by the Labour Party in this week’s budget.
According to a government source, a £2 billion fund will be used to set up the bank, which aims to encourage private sector investment.
It will be ...
Monday, 22 March 2010
CBI warns of "sluggish" economic recovery
Economic recovery in the UK will remain ’sluggish’ this year, the Confederation of British Industry (CBI) has warned.
According to the body’s latest economy forecast, annual gross domestic product will grow by one per cent this year, a figure that will rise to 2.5 per cent in 2011.
Director general Richard Lambert ...
Monday, 22 March 2010
Investors 'seeing benefits of stocks and shares'
Many investors are turning to stocks and shares as a means of generating returns from their personal wealth.
This is according to new research from The Share Centre, which showed only one in ten of those questioned are planning to make cash-only investments during 2010.
One in five said they will be ...
Friday, 19 March 2010
Double-dip recession warning sends pound lower
The value of the pound had dipped during Forex trading this morning (March 19th) after a member of the Bank of England’s monetary policy committee (MPC) warned there is still a possibility a double-dip recession will occur.
By 09:10 GMT, sterling was down against both the euro and the dollar, Reuters ...
Thursday, 18 March 2010
Leeds 'attracts investors to its important financial centre'
Leeds still remains an important financial centre for private banking and other institutions in the sector, it has been said.
New investors view Yorkshire and the city of Leeds as having many advantages, with three of the five biggest building societies originating from the area - the Yorkshire, Skipton and the ...
Thursday, 18 March 2010
Leeds "strategically important" as UK city
Leeds is ideally located for investment, lying halfway between Liverpool and Hull and London and Edinburgh, a fact which could encourage investors to the city’s private banking and
private wealth institutions.
William Hall, writing in a Financial Times supplement entitled Doing Business in the Leeds City Region, said its ...
Wednesday, 17 March 2010
Unemployment and jobless claimants dip
Both unemployment and the number of people calming jobless benefits have declined, according to new figures.
Latest data from the Office for National Statistics has revealed the proportion of the population without a job fell by 33,000 in the three months to January when compared to data from the previous quarter, ...
Wednesday, 17 March 2010
MPC unanimous on base rate decision
Members of the Bank of England’s Monetary Policy Committee (MPC) were unanimous in their decision to hold interest rates at 0.5 per cent earlier in the month.
According to the minutes of the meeting released earlier today (March 17th), all nine voted in favour of keeping the base rate at its ...
Tuesday, 16 March 2010
Shares boosted by Wall Street rally
A rally in stock trading on Wall Street yesterday (March 15th) helped European indexes to rise during trading this morning.
This is according to market analyst for City Index Nick Serff, who noted that investors in the US helped push markets higher ahead of the Federal Reserve’s interest rate announcement later ...
Tuesday, 16 March 2010
Fiscal cut call puts pound under pressure
Those using their personal wealth to trade in sterling have seen the value of the currency put under pressure in trading today (March 16th).
The pound fell to $1.4977 against the dollar before recovering slightly to rise to $1.5045 after it emerged the European Commission will call on the UK ...
Tuesday, 16 March 2010
European vote on hedge funds delayed
Plans for a vote on new regulations covering hedge funds and venture capital investment have been delayed by European finance ministers.
The topic was set to be discussed in Brussels today (March 16th) but has been removed from the agenda as European leaders have been unable to reach a consensus on ...
Friday, 12 March 2010
Lehman Brothers 'was insolvent for weeks'
Lehman Brothers had been insolvent for weeks before it filed for bankruptcy in September 2008.
This is one of the findings of a new report into who is to blame for the collapse of the financial institution at the start of the economic downturn, which also revealed that accounting gimmicks were ...
Thursday, 11 March 2010
Manufacturing drop 'raises double-dip recession fears'
Figures showing a drop in UK manufacturing have added to fears that a double-dip recession could take place.
This is according to senior analysts for Caxton FX Duncan Higgins, who noted that the data - which showed production fell 0.9 per cent during the January - were ’hugely disappointing’.
’Of real concern ...
Thursday, 11 March 2010
NAPF event to focus on improving pension standards
The forthcoming Accounting Summit being held by the National Association of Pension Funds (NAPF) is to focus on improving the way in which pensions are valued on company balance sheets.
Ensuring the health of defined benefit provision will also be on the agenda at the event, which is due to take ...
Thursday, 11 March 2010
Investors 'should not focus solely on gold'
Investors need to ensure they do not focus entirely on gold when looking for an asset to purchase with their personal wealth.
This is according to senior investment adviser at Bestinvest Adrian Lowcock, who said that while the precious metal performed well last decade, buyers need to be ’more careful’ now.
’I ...
Wednesday, 10 March 2010
Government outlines bank pay disclosure plans
More bankers will be forced to disclose their wages, if new proposals from the government are implemented.
Financial services minister Paul Myners has outlined plans that will build on those outlined in the Walker review, Reuters reports.
The move, which may result in more high net worth individuals having to disclose their ...
Wednesday, 10 March 2010
Dip in manufacturing puts pound under pressure
The pound has remained under pressure during Forex trading this morning (March 10th), hitting a one-week low against both the dollar and the euro.
Its attractiveness to those looking to invest their personal wealth in currencies has reduced, after data revealing British manufacturing fell unexpectedly in January added to the pressures ...
Tuesday, 09 March 2010
Profit-taking causes stocks to fall
More needs to be done to improve economic stability in the UK and boost confidence in public finances prior to the forthcoming general election.
This is according to the Confederation of British Industry (CBI), which has urged Labour to outline how it intends to restore ’fiscal credibility’ to the country in ...
Tuesday, 09 March 2010
Gold's attractiveness hit by stronger dollar
Strength in the dollar will decrease the attractiveness of gold among those looking to invest their
private wealth, it has been suggested.
According to Bloomberg, the value of the precious metal has been hit by the greenback’s climb and by news that China will not be using the commodity ...
Monday, 08 March 2010
FTSE aided by stronger commodity stocks
Shares on the FTSE 100 stock market climbed during morning trading today (March 8th), with rises by commodity firms helping to outweigh losses seen in the banking and pharmaceutical sector.
According to Reuters, the index was up 0.2 per cent at 09:26 GMT, taking it to 5,608.59 points and extending the ...
Thursday, 04 March 2010
Stronger dollar causes gold to dip
Strength in the value of the dollar has caused the price of gold to fall during trading today, potentially limiting its attractiveness to those with high levels of personal wealth.
The Dollar Index - which measures the greenback against six of its major counterparts - has risen by as much as ...
Thursday, 04 March 2010
Base rate and QE changes 'unlikely'
It is unlikely that the Bank of England will opt to alter interest rates or its quantitative easing (QE) programme in its announcement later today (March 4th).
This is according to UK economist at Capital Economics Vicky Redwood, who said that it will be some time before the Monetary Policy Committee ...
Wednesday, 03 March 2010
Sterling recovery 'will not occur soon'
It is unlikely that sterling will recover from the fall seen earlier this week in the immediate future, one currency analyst has predicted.
Caxton FX’s Duncan Higgins said that the ’near-term outlook is looking particularly weak’ for the currency at the moment, a comment that may dissuade those looking to invest ...
Wednesday, 03 March 2010
Financial regulations 'could hamper economic recovery'
Any changes to the regulation of banks and other financial institutions could limit the economic recovery by making it harder for them to lend to consumers and businesses.
This is according to Angela Knight of the British Bankers’ Association (BBA), who was speaking at an event organised to introduce new European ...
Tuesday, 02 March 2010
Sterling down over hung parliament worries
The attractiveness of sterling as an investment for those with high levels of personal wealth has been reduced after the currency’s value took a hit on forex trading.
Yesterday (March 1st), the pound fell below $1.50 against the dollar for the first time in nearly a year due to worries that ...
Monday, 01 March 2010
New FAIF rules welcomed by IMA
The launch of new rules governing the use of Funds of Alternative Investment Funds (FAIFs) has been welcomed by the Investment Management Association (IMA).
Due to come into force on March 6th, the new regime will enable greater flexibility in the structure of the FAIFs, which can be invested in a ...
Monday, 01 March 2010
New surveys indicate economic improvement
The economy in the UK is showing signs of improvement, the results of two new surveys by industry bodies have suggested.
Research from manufacturers’ organisation the EEF - produced in partnership with BDO - has revealed that businesses saw a larger-than-expected increase in production and orders received during the last three ...
Thursday, 25 February 2010
Strength in dollar causes gold to dip
An increase in the value of the dollar has caused the price of gold to fall for a fourth consecutive day.
At 14:00 local time in Singapore, the precious metal was down 0.5 per cent to $1,091.05 (£711.79) an ounce, as those with high levels of personal wealth moved away from ...
Thursday, 25 February 2010
Financial firms 'can improve complaints-handling procedures'
Improvements can still be made in the way that financial businesses handle complaints they receive.
This is according to the financial Ombudsman Service, which has today (February 25th), published complaint data relating to firms operating in the sector for the six months to December 31st 2009.
Over the second half of last ...
Thursday, 25 February 2010
RBS narrows full-year loss
Royal Bank of Scotland (RBS) has posted a loss for 2009, but reduced the figure from the record breaking amount it reported in 2008.
The firm posted a loss of £3.6 billion for the 12 months to December 31st, down from the £24.3 billion deficit it made 12 months earlier.
RBS, which ...
Thursday, 25 February 2010
Impact Investing Explained - Alternative Energy
Impact investments seek to co-align financial and social interests in a single strategy and can provide a strong degree of congruence between investments and the values and beliefs of the investor. Many impact investments offer 2% - 8% annual returns as well as an opportunity for portfolio diversification. Impact investors ...
Thursday, 25 February 2010
Impact Investing explained - Healthcare
Impact investments seek to co-align financial and social interests in a single strategy and can provide a strong degree of congruence between investments and the values and beliefs of the investor. Many impact investments offer 2% - 8% annual returns as well as an opportunity for portfolio diversification. Impact investors ...
Thursday, 25 February 2010
Impact Investing explained - Healthcare
Impact investments seek to co-align financial and social interests in a single strategy and can provide a strong degree of congruence between investments and the values and beliefs of the investor. Many impact investments offer 2% - 8% annual returns ................
Wednesday, 24 February 2010
Investors 'will see capital gains tax rise'
Investors who have used their
private wealth to purchase real estate are likely to see an increase in the capital gains tax this year.
This is according to editor of Property Investor News Richard Bowser, who said that he is ’absolutely convinced’ the levy will rise in the forthcoming ...
Wednesday, 24 February 2010
Treasury lifts Northern Rock's savings guarantee
Northern Rock is to see the government’s guarantee for its retail deposits removed in May.
The Treasury has announced that the agreement will be lifted at the close of trading on May 24th.
It has described the move as an ’important milestone’ in the efforts to return Northern Rock to commercial strength.
Paul ...
Wednesday, 24 February 2010
HSBC shareholders block chief executive's pay rise
HSBC shareholders have blocked plans for the bank’s chief executive Michael Geoghegan to receive a large increase in his base salary.
According to the Financial Times, HSBC had intended to increase his basic pay by around 35 per cent to over £1.4 million in 2010, but has abandoned the proposal after ...
Wednesday, 24 February 2010
Impact Investing explained - Alternative Energy
Impact investments seek to co-align financial and social interests in a single strategy and can provide a strong degree of congruence between investments and the values and beliefs of the investor.
Many impact investments offer 2% - 8% annual returns.............
Tuesday, 23 February 2010
Taxing those with personal wealth 'will limit economic recovery'
Raising taxes on those with high levels of personal wealth will have limit the recovery of the UK economy, one expert has warned.
Michael Porter of Harvard Business School said in an interview with the Financial Times that the 50p tax on those who earn over £150,000 per year is at ...
Tuesday, 23 February 2010
Business search for ways to beat 50p tax
Many businesses have stepped up their efforts to avoid the forthcoming 50p tax on high earners in a bid to protect the personal wealth of their executives.
This is according to the Financial Times, which said that advisers have seen rising interest from companies wanting to move the timing of their ...
Tuesday, 23 February 2010
Lloyds chief executive foregoes 2009 bonus
Eric Daniels, the chief executive of Lloyds Banking Group, will not be taking the £2.3 million bonus he is entitled to for 2009.
Mr Daniels said that he has made the decision so as not to cause a public row over bank chiefs receiving such remuneration in the wake of the ...
Monday, 22 February 2010
Oil price reaches six-week high
Oil’s popularity as an alternative investment was boosted this morning (February 22nd), as its value rose following a dip in the dollar.
The commodity climbed to a six-week high after the greenback was affected by reports of financial assistance for Greece.
According to Reuters, US crude for delivery in March was up ...
Monday, 22 February 2010
Public's trust in financial services must be restored, argues CII
The financial services sector needs to come up with solutions to the current issues that improve both the public’s perception of the industry and the reality of the situation.
This is according to a new report from the Chartered Insurance Institute (CII), which has urged firms operating in the market to ...
Monday, 22 February 2010
Tories unveil public bank share plan
The Conservative Party could offer the public shares in state-owned banks if it comes to power at the next general election.
Speaking to the Sunday Times, shadow chancellor George Osborne explained that the move would be a reward to the public after their money was used to support financial institutions at ...
Friday, 19 February 2010
Government deficit plan supported by economists
Economist have leant their support to the government’s plans to put off spending cuts until next year.
Over 60 leading figures said in two letters published in the Financial Times today (February 19th) that making ’reckless’ early cuts could damage the country’s recovery from the recession.
The move has created two factions ...
Friday, 19 February 2010
CIOT welcomes tax advisor legislation extension
News that HM Revenue and Customs (HMRC) is extending its consultation for legislation regarding deliberate wrongdoing by tax advisors has been welcomed by one industry body.
According to the Chartered Institute of Taxation (CIOT), implementing the suggested measures in their current state could have an adverse effect on those who advise ...
Thursday, 18 February 2010
George Soros steps up gold investment
George Soros, the US billionaire, has used his Soros Fund Management company to step up his investment in gold.
New regulatory filings revealed the investment vehicle had taken its holding in SPDR Gold Trust to 6.2 million shares by the end of 2009, more than double the amount it held at ...
Thursday, 18 February 2010
Mining sector 'to see rise in IPOs'
The mining sector is set to see an increase in initial public offerings (IPOs) during 2010.
This is according to Ernst & Young, which predicted that the trend for companies in this area to raise primary equity is due to return - something that may interest those considering investment options for ...
Wednesday, 17 February 2010
Unemployment down, but benefits claimants rise
The number of unemployed people in the UK fell slightly during the last quarter, however there has been a rise in the proportion claiming jobseeker’s allowance.
According to the latest data from the Office for National Statistics, unemployment was down to 2.46 million in the three months to December, putting the ...
Wednesday, 17 February 2010
Raising business taxes 'would increase double-dip recession risk'
The risk of a double-dip recession could be magnified if the government increases its tax on businesses.
This is according to editor of Investment and Business News Michael Baxter, who noted that the government ’has to increase taxes’ moving forward in order to close the public deficit, but doing so may ...
Wednesday, 17 February 2010
MPC unanimous on halting quantitative easing
Members of the Bank of England’s Monetary Policy Committee (MPC) were unanimous in their decision not to expand quantitative easing.
According to the minutes from the MPC’s meeting that took place earlier this month, all nine members elected to keep the programme at its present level of £200 billion.
However, the publication ...
Tuesday, 16 February 2010
FSA chairman calls for new financial services policies
Regulators need to consider implementing new policies that limit the expansion and liberalisation of the global financial services sector.
This is according to chairman of the Financial Services Authority (FSA) Lord Turner, who was speaking at the Reserve Bank of India in Mumbai.
He explained that there is a need to challenge ...
Tuesday, 16 February 2010
Inflation rises to 3.5%
Inflation in the UK climbed to 3.5 per cent in the year to January 2010, new official figures have revealed.
The figure was up from 2.9 per cent in December, with the rise in the Consumer Prices Index being attributed to the increase in VAT - which reverted back to 17.5 ...
Tuesday, 16 February 2010
Gold up as investors express concerns over dollar
The value of gold has risen for the second consecutive day due to concerns the dollar may fall as a result of the European Union’s (EU’s) rescue package for Greece.
At 10:35 local time in Singapore, the precious metal was up 0.4 per cent - or $4.25 (£2.70) - to $1,105.35 ...
Monday, 15 February 2010
Economic growth 'to be weaker than expected'
Economic growth could be ’rather weaker’ than the Bank of England has forecast, one economist has warned.
Jonathan Loynes of Capital Economics said that the Bank - which issued its Inflation Report last week - is being overly optimistic with its outlook, despite the fact that it has revised its expectations ...
Friday, 12 February 2010
Socially responsible investing rises
Socially responsible investing increased during the fourth quarter of 2009, new figures have shown.
The Investment Management Association’s (IMA’s) fourth quarter and full year statistics showed that ethical funds under management climbed to the second highest year-end on record during 2009.
Data showed that such funds increased by 26 per ...
Friday, 12 February 2010
New Manchester office wins planning permission
Redevelopment of office space in central Manchester is set to go ahead after the project was granted planning permission.
Elizabeth House in St Peter’s Square is to be turned into a new 270,000 sq ft building through a joint venture between the Greater Manchester Property Venture Fund and Argent.
The development, which ...
Thursday, 11 February 2010
Gordon Brown hopeful of global bank tax agreement
Leading economies are close to reaching an agreement regarding a global bank tax, Gordon Brown has said.
Speaking in an interview with the Financial Times, the prime minister stated that Downing Street is hopeful the G20 summit in Canada in June will result in a deal being included.
’People are now prepared ...
Wednesday, 10 February 2010
Campaign for 'Robin Hood tax' gets underway
A campaign for a new ’Robin Hood tax’ that would apply to financial transactions carried out by banks has been launched.
The initiative has the backing of around 50 organisations, which have written a letter to political leaders urging them to consider the idea.
It would involve imposing a levy on the ...
Wednesday, 10 February 2010
FSA chief executive to step down
Chief executive of the Financial Services Authority (FSA) Hector Sants has announced he is to step down from his role this summer.
Mr Sants will leave the position after three years, but the FSA has yet to announce a successor, saying only that the process for deciding on a new chief ...
Tuesday, 09 February 2010
Commercial property raises record amounts for investors
The final quarter of 2009 saw institutional investors and pension funds raise a record amount of money from the UK’s commercial property sector.
According to new data from the Association of Real Estate Funds (Aref), the final three months of 2009 saw institutional property funds collect over £3.2 billion, the largest ...
Tuesday, 09 February 2010
Pension funds get new regulatory initiatives
The National Association of Pension Funds has introduced two initiatives aimed at supporting the ownership of pension funds in the UK.
It has published new guidance - titled Pension Funds and the ISC Code - A practical guide - that outlines the principals of the code to pension funds, as well ...
Monday, 08 February 2010
Investors see dividends reduced
UK companies reduced their dividend payouts to investors by £10 billion in 2009.
This is according to a new report from Capita Registrars, which has revealed there was a 15 per cent reduction in the amount paid out to those that have invested their
private wealth in firms.
The total ...
Monday, 08 February 2010
Bank criticises planned hedge fund regulation
The Bank of England has criticised draft EU regulation aiming to increase regulation in the hedge fund industry.
A report from the Bank’s Financial Markets Law Committee (FMLC) concluded that implementing the plans would result in ’systemic failure and widespread market disruption’, the Times reports.
According to the news source, approximately 2,000 ...
Monday, 08 February 2010
Investors move away from the euro
Worries regarding the financial stability of some European countries have caused the value of the euro to fall for a fourth consecutive day.
The currency has dipped as investors look to move their personal wealth out of risky assets, due to concerns about the widening budget deficits in Greece and Portugal ...
Friday, 05 February 2010
Bank maintains quantitative easing size
The Bank of England has put an end to expansion of its quantitative easing programme.
In an announcement yesterday (February 4th), its Monetary Policy Committee said it had opted to maintain the size of the asset purchase programme at £200 billion.
It also revealed that the base rate has been held at ...
Friday, 05 February 2010
Investors await US non-farm payroll figures
Stock market investors have been looking to move away from riskier assets ahead of the release of non-farm payroll data in the US later today.
This is according to Joshua Raymond of City Index, who noted that those using their personal wealth to trade in stocks have been avoiding banking and ...
Friday, 05 February 2010
High-earners 'to try and avoid 50% tax'
Many high-earning employees will take steps to try and avoid the new tax being introduced by the government, it has been claimed.
Those earning over £150,000 a year will be subject to a 50 per cent levy from April, but tax policy director for the Chartered Institute of Taxation John Whiting ...
Thursday, 04 February 2010
Investment managers 'underestimating AIFM'
Many investment managers are underestimating the affect the EU Alternative Investment Fund Manager (AIFM) directive will have on their operations.
This is according to a new report from business services provider BDO, which revealed that just three per cent of those who took part in a survey cited AIFM as one ...
Thursday, 04 February 2010
Treasury property investment review welcomed
A government consultation over the private-rented sector has been welcomed by a property market expert.
Ian Potter, operations manager at the Association of Residential Letting Agents (Arla), suggested that the Treasury review is a sign that recommendations are being taken on board.
Those planning to invest
private wealth in property ...
Thursday, 04 February 2010
Investors 'awaiting quantitative easing news'
Trading on the stock market is likely to be influenced by the release of European and UK data regarding fiscal policy.
This is according to market analyst for City Index Nick Serff, who explained that buyers using their
private wealth to invest in companies will be hoping for ’signs ...
Wednesday, 03 February 2010
BP shares 'still have long-term potential'
Stock market traders should not be put off by the drop in BP’s share price that occurred yesterday (February 2nd).
At least this is the opinion of Graham Spooner of the Share Centre, who advised those looking to use their
private wealth to purchase stocks that the oil giant ...
Wednesday, 03 February 2010
Be more aware of inflation risks, urges expert
Consumers and investors need to be more aware of the risks associated with rising inflation.
This is according to director at The Motley Fool David Kuo, who said that the issue ’is something that people need to be very aware of’.
Figures released by the Office for National Statistics last week revealed ...
Tuesday, 02 February 2010
Regulatory bodies 'need greater cooperation'
Greater cooperation between regulatory bodies is required in order to ensure the integrity of the financial services markets in the UK and the US.
This was the conclusion reached at a meeting between representatives of the Financial Services Authority (FSA) and the US Securities and Exchange Commission (SEC) as part of ...
Tuesday, 02 February 2010
Pensions trustees 'need to improve standards'
Trustees of workplace pensions need to improve their record-keeping standards, the Pensions Regulator has warned.
The industry body made the comments as it launched a new consultation designed to raise standards in this area, something that may interest those involved in
private banking.
Noting that the adoption of guidance released ...
Friday, 29 January 2010
Pension trustees urged to stay cautious
A reduction in the number of corporate insolvencies should not encourage pension scheme trustees to become less cautious, it has been claimed.
PricewaterhouseCoopers (PwC) noted that even though there was another fall in the amount of firms failing in the final quarter of last year, businesses are still at risk.
It explained ...
Friday, 29 January 2010
Weak exit from recession was "quite worrying"
The weaker-than-expected gross domestic product figures (GDP) released this week that signalled the end of the recession in the UK have been described as ’quite worrying’.
Michael Baxter, editor of Investment and Business News, said the fact that the figure was lower than had been forecast was cause for concern.
Data from ...
Friday, 29 January 2010
Mining stocks 'popular with traders'
Those trading on the stock market are continuing to show an interest in mining stocks.
This is according to chief executive of TD Waterhouse Angus Rigby, who explained that Rio Tinto has proven especially popular among buyers this week.
Almost 75 per cent of the top ten trades were buys and Mr ...
Friday, 29 January 2010
Stock market investors await US GDP date
Stock market investors are likely to operate with caution in the run-up to the release of US gross domestic product (GDP) figures this afternoon.
This is the opinion of market strategist at City Index Joshua Raymond, who noted that while some buyers have moved in to take advantage of the low ...
Thursday, 28 January 2010
Obama's speech boosts FTSE
Barack Obama’s State of the Union address has helped the FTSE 100 to climb in morning trading on London today (January 28th).
According to Reuters, the index was 40.88 points higher on 5,258.35 points at 09:22 GMT, as investor confidence returned due to the US president choosing not to give fresh ...
Thursday, 28 January 2010
AIG bail-out defended by Geithner
Timothy Geithner has defended his actions in the bail-out of AIG in front of a congressional panel in the US.
The Treasury secretary, who was the head of the New York Federal Reserve when the insurance firm was saved two years ago, said that he did not take part in deciding ...
Thursday, 28 January 2010
Bank stress test scheduled for 2010
European banks are to be subjected to another stress test this year to ascertain the industry’s ability to absorb shocks.
Speaking at the European Parliament, chairman for the Committee of European Banking Supervisors (Cebs) Giovanni Carosio stated: ’For 2010 another exercise is scheduled, with involvement of the EU major banking groups.’
According ...
Thursday, 28 January 2010
Shares 'out of favour' with UK individuals
The number of UK-based individuals who own shares traded on the London Stock Exchange (LSE) has declined, according to new figures.
Statistics released by the Office for National Statistics (ONS) showed that, at the end of 2008, ten per cent of stocks traded in the capital belonged to this demographic.
This, the ...
Thursday, 28 January 2010
Gold price still in an "uptrend", says expert
The price of gold is still in a long-term ’uptrend’, despite falling about 11 per cent since touching a record high in December.
This is according to managing director for Superfund Financial Singapore Aaron Smith, who said in an interview with Bloomberg that the current decrease ’is simply a normal pullback’ ...
Wednesday, 27 January 2010
Raft of AIFM changes put forward
A record number of amendments to the Alternative Investment Fund Management (AIFM) Directive have been made, it has emerged.
MEPs have submitted over 1,000 demands for changes to the draft of regulation for the hedge fund and private equity industries.
Secretary general of the European Venture Capital Association Javier Echarri described the ...
Wednesday, 27 January 2010
FTSE reaches five-week low
The FTSE has dropped to a five-week low during trading this morning as mining shares slumped.
Those using their
private wealth to invest in the stock market may be interested to note that, according to Reuters, the index was down 1.1 per cent at 09:20 GMT.
As a result, the ...
Wednesday, 27 January 2010
High street banks increasing mortgage lending
High street banks are becoming more willing to provide mortgage funding, new figures have revealed.
Statistics from the British Bankers’ Association (BBA) showed that lending for homeowner loans strengthened slightly in December, with a total of 45,897 loans being approved.
This, the BBA said, was double the amount recorded a year previously ...
Wednesday, 27 January 2010
Mervyn King backs bank reform plans
Mervyn King has lent his support to calls for widespread reform of the global banking industry.
Speaking to the Treasury Committee, the governor of the Bank of England said that plans outlined by US president Barack Obama last week had merit, but he called for caution regarding their implementation.
’We need to ...
Wednesday, 27 January 2010
Hung parliament 'would put economy at risk'
The UK economy would suffer greatly if the forthcoming general election results in a hung parliament, one expert has claimed.
Economist for Investec Securities David Page explained that a situation in which no party wins an outright majority ’would have a very bad effect on sterling’, which ’could get worse’ in ...
Tuesday, 26 January 2010
FSA steps up mortgage regulation
The Financial Services Authority (FSA) has outlined new regulations that aim to cut mortgage fraud.
It is looking to strengthen existing rules with the changes, which include ensuring companies record all telephone calls relating to arrears and keep these for three years.
In addition, the FSA is preventing businesses from applying monthly ...
Tuesday, 26 January 2010
UK exits recession after six quarters
The economy in the UK is out of recession after gross domestic product (GDP) grew in the final three months of last year.
According to the Office for National Statistics, there was a 0.1 per cent increase between October and December 2009.
This was less than had been predicted by analysts and ...
Tuesday, 26 January 2010
Lower opening predicted for FTSE
Today (January 26th) is likely to bring further falls on the FTSE 100, with the market forecast to decline for the fifth consecutive session.
It is expected to lose between 37 and 44 points on opening, Reuters reports, due largely to the decreases that have occurred in Asia overnight.
Investors are still ...
Monday, 25 January 2010
Sterling could get weaker, expert warns
There is a possibility that sterling could weaken further in the coming months due to the uncertainty surrounding the general election, one expert has stated.
Economist at Investec Securities David Page noted that it would not be surprising to see sterling dip against its global counterparts.
’We wouldn’t be buying sterling at ...
Monday, 25 January 2010
British economy 'returned to growth last quarter'
The final three months of 2009 brought a return to growth in the British economy after six consecutive quarters of recession.
This is according to Reuters, which conducted a poll of 35 economists on the matter and found that the general consensus is of a 0.4 per cent expansion between October ...
Monday, 25 January 2010
Investor interest pushes bank stocks higher
Increased interest from investors has helped push mining and banking stocks higher in morning trading on the FTSE 100 today (January 25th).
HSBC, Barclays, Standard Chartered, Royal Bank of Scotland and Lloyds Banking Group were up by as much as 3.5 per cent at 09:26 GMT, Reuters reports.
Gains of between 0.5 ...
Friday, 22 January 2010
Obama outlines banking reform proposals
Barack Obama has responded to the recent financial crisis by outlining new plans to reform the banking system in the US.
The president said he intends to limit the size of financial institutions, as well as put a cap on the amount of risky trading they are allowed to undertake.
As a ...
Friday, 22 January 2010
Financial regulators 'need to consider shadow banking'
There is a need to carefully consider how the financial regulatory system will respond to shadow banking, one member of the Bank of England’s Monetary Policy Committee has stated.
Speaking in London today (January 22nd), Paul Tucker noted that shadow banking - a collection of firms, markets, instruments or structures that ...
Friday, 22 January 2010
Raising interest rate 'increases risk of double-dip recession'
There could be another fall in the UK’s economy if interest rates are raised too quickly.
This is according to strategy, risk and economics director at Hometrack Gary Styles, who warned that a ’double-dip’ recession could be created if there is a sudden rise in rates.
He noted that the economy will ...
Thursday, 21 January 2010
Unemployment down, new figures show
There has been a decline in the number of unemployed people in the UK for the first time in 18 months.
According to new figures released by the Office for National Statistics, unemployment for the three months to November 2009 stood at 2.46 million, a drop of 7,000 on data from ...
Thursday, 21 January 2010
Trading quiet ahead of Goldman Sachs earnings release
Investors have stayed away from European stock markets this morning as they await the release of earnings figures from Goldman Sachs.
This is according to market strategist for City Index Joshua Raymond, who noted that trading has been ’largely flat’ so far today (January 10th).
According to Reuters, the FTSE 100 was ...
Thursday, 21 January 2010
King issues reassurance over inflation
Inflation should return to the Bank of England’s target despite the recent jump, governor Mervyn King has stated.
Speaking at the University of Exeter, Mr King issued a reassurance that inflation will not continue to increase, noting that although consumer prices index (CPI) inflation will edge over three per cent ’for ...
Wednesday, 20 January 2010
Recession 'has put pension schemes at risk'
Pensions schemes are at greater risk of going bust due to the recession, it has been suggested.
The warning has come from the Pension Protection Fund (PPF), which has today (January 20th), published its Purple Book review into such schemes in partnership with the Pensions Regulator.
Figures contained in the report show ...
Wednesday, 20 January 2010
Bank 'should end quantitative easing'
Yesterday’s increase in consumer price index (CPI) inflation should encourage the Bank of England to end its quantitative easing programme, it has been suggested.
Figures released by the Office for National Statistics on Tuesday showed that CPI rose from 1.9 per cent in November 2009 to 2.9 per cent in December ...
Wednesday, 20 January 2010
Over-regulation 'could damage financial sector'
The UK’s finance sector may be undermined by the growing amount of regulation applicable to it, it has been warned.
Speaking ahead of the launch of The Future of Financial Services, a new report from PricewaterhouseCoopers and the Confederation of British Industry (CBI), Chris Jones of the Big Four company observed ...
Tuesday, 19 January 2010
Pension trustees 'need to review stock loan procedures'
The Pensions Regulator has called the trustees of retirement schemes to investigate the terms under which fund managers loan out stock at a charge.
According to the Financial Times, the body issued guidance earlier in the month calling for reviews to take place, after it emerged that stock was being loaned ...
Tuesday, 19 January 2010
FRC launches Stewardship Code consultation
A consultation has been launched regarding a new Stewardship Code that will apply to institutional investors.
The Financial Reporting Council (FRC) is carrying out the move, which aims to set out best practice for those who engage with the UK listed companies they invest in.
Views on how adoption of standards can ...
Tuesday, 19 January 2010
Largest ever monthly increase for inflation
Inflation climbed 0.6 per cent during December, according to new data from the Office for National Statistics.
As a result, the annual rate of Consumer Price Index inflation rose to 2.9 per cent last month, up from 1.9 per cent in November and the largest monthly increase on record.
The Retail Price ...
Monday, 18 January 2010
Financial insolvencies 'could rise again'
Insolvencies in the financial sector declined last year but could be set to rise again in the opening months of 2010.
This is according to new research from Deloitte, which revealed a nine per cent drop compared to data from 2008, with 59 finance firms entering administration over the 12-month ...
Monday, 18 January 2010
FTSE set for 'gradual gains'
Gains on the FTSE 100 this year will be more gradual than the sharp increases that were seen in the latter stages of 2009.
This is according to director of Churchouse Financial Planning Keith Churchouse, who said that although there will be rises, the index is more likely to ’creep up’ ...
Friday, 15 January 2010
UK firms set to release financial results
Next week will bring the release of financial results from a number of businesses, with Morrison, Burberry and Carphone Warehouse among those to reveal their figures to investors.
According to the Motley Fool, the market is expecting a brace of new data from listed firms, including Christmas trading figures from some ...
Friday, 15 January 2010
Charities 'need to consider new legislation'
Many charities have not yet taken into consideration the affect legislative changes due to be introduced in 2012 will have to their operations.
This is according to new research from the Association of Chief Executives of Voluntary Organisations (Acevo), which revealed that nearly three-quarters (73 per cent) of charities questioned have ...
Thursday, 14 January 2010
Corporate governance 'needed to prevent risk-taking'
Financial institutions should incorporate extensive corporate governance and risk-management safeguards to protect against potential failures.
This is the finding of a new report by the Organisation for Economic Co-operation and Development (OECD), which noted that contagion risk has been one of the ’main hallmarks’ of the current economic crisis.
It ...
Wednesday, 13 January 2010
Economic figures raise hopes over recession
New figures regarding industrial production have given fresh hopes that the UK may be exiting recession in the near future.
This is according to Duncan Higgins of Caxton FX, who was commenting after statistics were published showing that growth in this area was 0.4 per cent in November 2009, compared to ...
Monday, 11 January 2010
Treasury minister criticises offshore tax evasion
Offshore tax evasion has been described as ’morally unacceptable’ by Treasury minister Stephen Timms.
Speaking following the news from HM Revenue & Customs (HMRC) that around 10,000 people have failed to declare their offshore assets, he noted that hiding money in accounts outside of the UK ’robs public services of funding ...
Monday, 11 January 2010
Business 'to fall' in financial sector
Business volumes across the financial services sector are likely to fall in the coming months.
This is according to new research from PricewaterhouseCoopers (PwC), which revealed that firms in the market do not expect the increase that was seen in the final quarter of 2009 to continue.
The Big Four firm found ...
Friday, 08 January 2010
IPOs 'on the rise' in European markets
Opportunities for those looking to invest their personal wealth may be set to increase this year, as PricewaterhouseCoopers (PwC) has predicted an increase in the number of European initial public offerings (IPOs) taking place in 2010.
The business services firm said that there was a ’distinct upturn in activity’ in this ...
Wednesday, 06 January 2010
Bank exodus 'could damage London'
Private banking professionals who are currently deliberating moving their businesses to more tax-friendly locations could spell disaster for London, according to one expert.
Michael Baxter, economics analyst at Investment and Business News, claimed that bankers are ’vilified’ in the UK and new regulations being brought in by the government ...
Tuesday, 05 January 2010
Gold "the place to be" this year
The gold market is the ’place to be’ in 2010, one expert has stated.
Speaking to Bloomberg, managing director of CWA Global Markets Peter McGuire said that the precious metal is to be in demand from those seeking alternative investment this year.
’It will be a strong year for precious metals,’ he ...
Monday, 04 January 2010
Gold 'set for further advances'
The price of gold is set to continue its recent gains following December’s fall, according to one expert.
Manager at Standard Bank Asia Ellison Chu was quoted by Bloomberg as saying that the price of the precious metal ’will continue to climb higher’.
Gold surged to a record high at the start ...