Cheap and cheerful: Your quick guide to low cost passive investments June 18, 2015 More and more people are shunning active fund managers and choosing to buy cheap “passive” market-tracking investments instead. The amount of money invested in these low cost alternatives has nearly doubled over the last ten years. Now 12 per cent of all money put into funds is invested in passives, according to the Investment [...]
FTSE 100 smashes through its 1999 closing record February 23, 2015 Thanks to the effects of Greek negotiations, we've been holding our breath for this rather longer than expected – but the FTSE 100 has finally breezed past its closing record, rising past 6,930.2 for the first time since 1999. The index rose as high as 6,933 in early trading, as good news over Greek debt [...]
Tory MPs demand end to banker bashing: Bank levy debate hots up after historic Conservative election victory May 11, 2015 Conservative MPs and senior City figures want the new government to rein back punitive taxes aimed at banks and avoid weakening one of the UK’s most competitive industries. Shares in banks jumped on last week’s unexpected election result. Defeated Labour leader Ed Miliband had threatened major hikes to the bank levy, more bonus taxes and [...]
On life, taxes and Osborne’s chance to beat a £20bn target March 18, 2015 If taxes are one of life’s few certainties, then taxes on banks are becoming just as predictable. Just when HSBC thought its lot could not get any tougher, up pops George Osborne with his bi-annual hike to the rate of the charge on lenders’ balance sheets. The chancellor’s final pre-General Election Budget included a commitment [...]
Over-70s most enthusiastic online bankers January 26, 2015 More than two million over-70s use online banking, and almost half a million over-60s have downloaded mobile banking apps, according to the British Bankers’ Association. Despite common perceptions that modern technologies are mainly adopted by the young, older customers are among the most enthusiastic users, according to the figures from RBS Group, Lloyds Banking Group, [...]
Investor caution leads FTSE to a three-week low – London Report April 29, 2015 BRITAIN’S top share index slipped to a three-week low yesterday as a slowing US economy and caution before the end of a Federal Reserve policy meeting led some investors to take profits from recent highs. The US reported its economy grew in the first quarter at just a 0.2 per cent annual rate, well below [...]
Mining shares boosted by new China support – London Report April 20, 2015 MINING stocks helped Britain’s top share index rebound yesterday after China moved to support stuttering growth in the world’s biggest consumer of metals. The FTSE 350 mining index rose two per cent, the top sectoral gainer, after China cut the amount of cash that banks must hold as reserves. The blue-chip FTSE 100 index closed [...]
It’s crunch time for London’s competitiveness – and alarm bells are ringing May 7, 2015 THE BIG question for London’s business community this morning is this: will our new government, whatever its make-up, help keep Britain open for business? London gives the UK a place on the world stage, and is the country’s principal gateway for investment and tourism. Last year, the city’s success allowed it to contribute £34bn more [...]
HSBC in lead on swaps redress May 8, 2014 HSBC is ahead of the other big banks in contacting small firms who were mis-sold interest rate swaps, the Financial Conduct Authority said yesterday. The bank has sent outcome statements to 99 per cent of customers who opted into the scheme. Lloyds is next with 96 per cent, with Barclays at 78 per cent and [...]
Oxfam anti-tax dodging protesters shower Westminster with fake money in run-up to 2015 budget March 17, 2015 Protesters from Oxfam donned their George Osborne and Danny Alexander costumes and took to Westminster this morning, in a protest against tax dodging. Dressed as the chancellor and chief secretary to the Treasury, the protesters posed with mock ministerial red boxes inside a glass dome, with fake bank notes flying all over the place. According [...]