There are rays of hope in a sluggish City jobs market November 28, 2012 CONSIDERING the current employment climate in the City, and the ruthless job cuts hitting the headlines, you would be forgiven for considering packing your bags and taking an early retirement in the country. A report released by Roland Berger Strategy Consultants last week showed that investment banks are set to lose another 40,000 jobs in [...]
The poorest will suffer if we ignore the real evidence on payday loans December 10, 2012 THE non-stop tide of new regulation from the government continues. It now appears to be preparing to accept an amendment to the Financial Services Bill, which will allow the Financial Conduct Authority to cap interest rates on payday loans. A recent intervention by the incoming archbishop of Canterbury (who is strongly in favour of the [...]
Hurricane Sandy drags FTSE 100 down October 29, 2012 The FTSE 100 fell in early trading, spooked by hurricane Sandy which has already shut the US stockmarket. Financial and mining shares dragged the main blue chip index down in early trading, with Hargreaves Lansdown the biggest loser on the FTSE 100, dropping 3.95 per cent. Insurers were also big fallers on the stock market [...]
FTSE 100 higher as US stockmarket prepares to open October 31, 2012 The large cap index was trading marginally higher this morning, led by an upswing in mining stocks thanks to an uptick of base metal prices. Following two days of closure, the US stockmarket is preparing to open today. Airline group IAG was the top blue-chip riser this morning, while utility stocks and Barclays made up [...]
Give yourself a bit of credit November 4, 2012 OVER £12.6bn was spent on credit cards in September 2012 alone. They’re a convenient way to manage your expenses — you can spread the cost of large purchases, give yourself an extra layer of protection against fraud, and they could help you build up a good credit history if used sensibly. But given the size [...]
Troubled small business seeks state roll-back November 4, 2012 SMALL FIRMS today called for a national insurance holiday and a greater focus on cutting red tape as they fight their way out of recession. Some 41 per cent of firms surveyed by BDO and the Quoted Companies Alliance said reforming equities regulation could help them access finance to grow. The most popular reform would [...]
AIG to sell lease firm to Chinese group at a loss December 10, 2012 AMERICAN International Group will sell nearly all of aircraft leasing business ILFC to a Chinese consortium for up to $4.8bn (£2.9bn), in a deal that gives the fastest growing aviation market easier and cheaper access to planes. But the sale is at a far cheaper price than AIG sought and will lead to a substantial [...]
Barclays increases PPI provision by £700m October 18, 2012 Barclays has set aside a further £700m to cover Payment Protection Insurance (PPI) claims, after experiencing higher than expected claim volumes since the end of June. It takes its overall provision to £2bn from £1.3bn. UK banks have set aside more than £10bn to cover claims relating to the mis-selling of PPI. PPI policies were [...]
Barclays increases PPI provision by £700m October 18, 2012 Barclays has set aside a further £700m to cover Payment Protection Insurance (PPI) claims, after experiencing higher than expected claim volumes since the end of June. It takes its overall provision to £2bn from £1.3bn. UK banks have set aside more than £10bn to cover claims relating to the mis-selling of PPI. PPI policies were [...]
Rules against aggressive tax avoidance delayed December 11, 2012 NEW rules that will ban companies and individuals from engaging in aggressive tax avoidance schemes will not be implemented until at least summer 2013, according to draft legislation released yesterday. The General Anti Avoidance Rule (GAAR), which will give HMRC the power to identify and act against legal tax arrangements that are “abusive”, was due to be enforced [...]