Poor disclosure of people issues is leaving investors at a third of FTSE 100 companies in the dark May 24, 2016 Annual reports at a third of FTSE 100 firms are giving investors an inaccurate overview by withholding relevant information, a study out today has found. The research by the Valuing Your Talent partnership – which consists of the Chartered Institute of Management Accountants (CIMA), the Chartered Institute of Personnel and Development (CIPD) and the Chartered Management [...]
Lloyds share price falls as profits come in below expectations while total PPI bill surges July 31, 2015 Shares in Lloyds were down 2.21 per cent this afternoon to 83.81p per share after profits missed expectations and it announced a £1.4bn provision to cover the cost of mis-selling payment protection insurance (PPI). The figures The state-backed bank said pre-tax profit rose 38 per cent to £1.19bn in the six months to the end of [...]
Spending growth through shopping vouchers – should central bankers be trying new things? July 26, 2016 Over the last few months the term helicopter money – once only used to mock former Fed chair Helicopter Ben – has become common place. For that we can thank the Bank of Japan and its increasingly desperate attempts to kick start growth, culminating this Friday with its latest policy meeting. Many economists are expecting the Bank of Japan [...]
At the open: European markets tumble, but the pound prances on May 3, 2016 European markets opened down this morning as traders consolidated positions ahead of a glut of corporate results this week. The FTSE 100 shot up by 16 points as bank holiday weekend trades become official, but then immediately plunged to stand down 0.4 per cent at 6,214 within the first hour of trading. Over in Germany, [...]
Financial Conduct Authority does not know if it is protecting consumers from mis-selling in the financial services sector, says National Audit Office report February 24, 2016 The Financial Conduct Authority (FCA) is unable show that its actions are effective in reducing mis-selling to consumers, according to a report by the National Audit Office (NAO). The report, which was released today, discovered that the information the watchdog holds is not suitable for showing a link between its actions and complaints. For example, from [...]
Watchdog to probe unfair PPI sales fees May 27, 2015 BANKS and brokers could face a new wave of costs related to payment protection insurance (PPI) and other products sold to customers, after a judge said hidden high commissions on sales can be unfair on customers. The Financial Conduct Authority (FCA) is looking into the judgement from the Supreme Court in November 2014, which found [...]
China’s balancing act is the biggest risk to the world economy as inflation data shows prices still off target May 10, 2016 China’s economic rebalancing is the biggest threat to the global economy, the ratings agency Fitch has said, warning that a “hard landing” would trigger ripple effects around the world. The difficulties associated with shifting the world’s second largest economy from a reliance on investment towards consumption are “sharpening” according to Fitch, as authorities face the [...]
UK bank results: Standard Chartered and Royal Bank of Scotland (RBS) gearing up to post losses for full-year 2015 February 21, 2016 Two of Britain’s biggest banks are expected to post sharp losses this week when they report full-year results for 2015. Analysts say Standard Chartered will report significant losses amid steep restructuring costs, while Royal Bank of Scotland (RBS) pre-empted the full-year results last month when it announced a so-called clean-up plan that would hit annual [...]
Co-operative Bank: Core business posts profit – but group warns there is still hard work ahead May 20, 2016 The Co-operative Bank's core business has posted a profit for the first three months of the year – shrugging off the losses it made last year. The figures It was a bit of a mixed bag, with total core bank net customer loans up from £14.7bn at the end of December to £15.2bn, thanks to growth [...]
Alistair Darling and Michael Howard clash over Brexit campaign at CBI dinner May 18, 2016 Two grandees of the Leave and Remain campaigns dramatically crossed swords last night, when a former chancellor and former home secretary clashed over the ramifications of the referendum vote at the CBI's annual dinner. The glitzy black tie event, hosted at Grosvenor House on Park Lane, saw Labour peer Alistair Darling and Tory peer Michael Howard [...]