Wishes and predictions for Osborne’s budget March 17, 2014 ■ EY suggests there is little room for the chancellor to make big changes, given the spending constraints he has set for the Treasury, and that the OBR’s adjustments will be small. ■ However, the big four accounting firm expects George Osborne to make a move on the top rate of stamp duty, raising the [...]
Troubled RSA sees ratings put on negative watch by Fitch December 16, 2013 RATINGS agency Fitch has put RSA’s financial strength rating on negative watch after further concerns were raised about the insurer’s ability to maintain its position in the market. And Standard and Poor’s cut its credit rating on RSA and its core subsidiaries from A to A-, arguing that a series of profit warnings indicate management [...]
Best of the Brokers for 18 December 2013 December 17, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com ASOS Panmure Gordon has downgraded the online fashion store from a buy to a hold rating,but as increased its target price from 5,950p to 6,126p. After a 124 per cent rise in the share price this year, Panmure thinks this momentum is unsustainable, [...]
Innovation Diary: There will be plenty more Wongas to come – even as the fintech sector begins to grow up February 9, 2014 FEW NEED telling about the growth of peer-to-peer lending. Whether driven away by dissatisfaction with traditional banking, or pulled by attractive returns and convenience, lenders and borrowers are increasing interested. According to Nesta, P2P business lending grew by 211 per cent between 2012 and 2013. And while P2P lenders control just 1 per cent (about [...]
City Moves for 13 December 2013 | Who’s switching jobs December 12, 2013 Quintant Partners The insurance and technology firm has hired Guy Shepherd as director for technology and solution design. He has over 20 years’ experience developing insurance technology solutions. Shepherd was formerly at PwC, where he was head of its insurance modelling practice. TSB The bank has announced the appointment of Susan Crichton as general counsel. [...]
Investment Comment: Five asset allocation strategies for long-term investors February 11, 2014 AS UNCERTAINTIES rumble on across financial markets in 2014, it can be difficult for investors to look beyond short-term market dynamics when assessing risk and returns. Yet strategic asset allocation (SAA), an investor’s long-term asset allocation with a five to seven year time horizon, is an integral aspect of overall portfolio returns. More than 80 [...]
City Moves for 13 January 2014 | Who’s switching jobs January 12, 2014 Smith & Williamson The accountancy and wealth management group has announced the appointment of Tina Riches as national tax partner. She was most recently at the Chartered Institute of Taxation, where she was a technical director. Royal Bank of Canada The bank has recruited Tim Houghton as head of business development in its wealth management [...]
What the other papers say this morning – 10 January 2014 January 9, 2014 FINANCIAL TIMES Taxman hardens stance on disputes The UK taxman has toughened its stance on disputes with big business in response to public pressure over alleged “sweetheart” deals, companies say. Three-quarters of such groups surveyed by Clifford Chance, a law firm, said HM Revenue & Customs had “generally become more aggressive in recent years”. Santander [...]
City Moves for 22 November 2013 | Who’s switching jobs November 21, 2013 Triangle The investment, property and asset management group has announced the hire of Rick Denton as group chief executive. He was most recently at Barclays, where he was head of international wealth advisory. Prior to that, he was offshore commercial director at Fortis Intertrust. Allianz Global Corporate & Specialty The insurance business has appointed Danny Turner [...]
ACCA Comment: Why post-crisis regulation has proved far from perfect May 14, 2014 Blunt tools must be replaced with more responsive solutions THERE is celebration in the air now that the UK has come out of recession strongly. However, is it too soon to get out the bunting? Yes, lessons have been learned from the financial crisis, and we are looking healthier as an economy. But there could [...]