Friday, 28 May 10
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 10
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 10
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 10
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 10
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 10
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 10
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 10
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 10
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 10
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 10
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 10
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 10
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 10
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 10
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 ...
Monday, 17 May 10
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 10
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 10
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 ...
Friday, 14 May 10
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 ...
Friday, 14 May 10
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 10
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 ...
Wednesday, 12 May 10
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 10
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 10
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 10
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 ...
Monday, 10 May 10
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 ...
Monday, 10 May 10
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’ ...
Monday, 10 May 10
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 ...
Monday, 10 May 10
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 ...
Monday, 10 May 10
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 ...
Monday, 10 May 10
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 ...
Friday, 07 May 10
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 10
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 ...