Real-life Wolf of Wall Street Jordan Belfort reveals why the UK will survive Brexit October 4, 2019 The most remarkable thing about Jordan Belfort, the self-styled Wolf of Wall Street, is not his once-prodigious drug consumption or the Bacchanalian excess of his infamous company Stratton Oakmont – it’s his sheer, bloody-minded staying power. In his 56 years he’s experienced bankruptcy, drug addiction and incarceration, losing more money than most people could earn [...]
What are the UK’s most shorted stocks? January 29, 2019 Hedge funds made millions from short-selling Carillion shares after the construction firm collapsed a year ago. That’s hardly a surprise, but what’s telling is that many short-sellers were predicting its failure even before the company issued its first profit warning back in July 2017. Short-sellers borrow shares from other investors, typically large institutions like pension [...]
Why the cheapest mortgage deal isn’t necessarily the right one January 9, 2019 The Financial Conduct Authority’s report into the mortgage market found that around 30 per cent of borrowers were unable to see that they were eligible for a cheaper deal. On average, these consumers paid around £550 per year more over the introductory period compared to the cheaper product. But this poses a question: is the cheapest [...]
PPI claims surge against CYBG to push bank to a £145m loss November 20, 2018 Clydesdale Bank owner CYBG's share price fell more than 13 per cent today as a fresh raft of PPI claims pushed it to a £145m loss in its full-year results. The figures CYBG fell to the £145m loss after taking a £352m hit for PPI costs and £44m for other legacy conduct issues. A Financial Conduct [...]
UK and US should have mutual recognition of financial sectors on ‘day one’ of a post-Brexit trade deal, says new report September 18, 2018 The UK and US should seek an immediate system of mutual recognition to deepen trade in financial and professional services, according to a new report produced by policy experts from both sides of the Atlantic. The proposal is one of a range of suggestions put forward by a group of 11 think tanks in a [...]
UK and US should have mutual recognition of financial sectors on ‘day one’ of a post-Brexit trade deal, says new report September 18, 2018 The UK and US should seek an immediate system of mutual recognition to deepen trade in financial and professional services, according to a new report produced by policy experts from both sides of the Atlantic. The proposal is one of a range of suggestions put forward by a group of 11 think tanks in a [...]
Concordia accused by UK competition watchdog of overcharging the NHS by “millions” November 21, 2017 Canadian drug giant Concordia overcharged the NHS by millions of pounds, Britain’s competition regulator provisionally found today. It is alleged the firm hiked the price of one the NHS’ essential thyroid drugs. Last year, the NHS spent more than £34m on the medication, called liothyronine, an increase from £600,000 in 2006. The Competition and Market’s [...]
Why cryptocurrencies are here to stay December 21, 2018 If common perception is to be believed, we’re currently watching the death of cryptocurrencies. Without doubt, there is cause for some concern. This year has been terrible for speculators, with a deeply entrenched bear market taking hold, and the price of bitcoin falling by around 80 per cent. The year also hasn’t resulted in the envisaged uptake [...]
Admiral Taverns snaps up Heineken’s excess pubs following Punch Taverns acquisition November 1, 2017 Admiral Taverns today announced it has reached an agreement to take on some of the pubs shed by Heineken following its acquisition of Punch Taverns. Admiral, which was itself bought by new owners in September, has formed a partnership with Scottish hospitality group G1 to acquire a portfolio of 29 pubs. Due to the ongoing [...]
The Eurozone’s push for unified fiscal discipline is doomed to fail February 20, 2019 It is widely acknowledged that, under a monetary union, fiscal and monetary discipline have to go hand in hand in order to maintain financial and macroeconomic stability, and thus ensure that the currency remains sound. For a monetary area with such diverse economies as the Eurozone, establishing the right legal architecture and operational rules to [...]