Solid Pace profits overshadowed by finance chief’s resignation July 28, 2014 FTSE 250-listed set-top box maker Pace Group said it expected full- year profit to exceed previous guidance, driven by new product launches and contract wins. Despite the strong interim results yesterday, which initially prompted minor gains, shares in the British firm slipped 3.6 per cent to 355p after Pace revealed that its well-regarded finance director, [...]
Could Labour be set to make a big announcement on low pay at its party conference? September 18, 2014 Tackling low pay has been a central policy theme for Labour while in opposition, and it’s not hard to see why. While the economy is growing, wages aren’t rising in real-terms and people don’t feel better off. Ed Miliband knows this and has sought to focus his party’s strategy on the cost of living crisis [...]
Autumn Statement 2014: Reactions to George Osborne’s announcement – from the City economist to the property expert December 3, 2014 THE BUSINESS GROUP Confederation of British Industry director general John Cridland Growing firms will benefit from business rates reform. We welcome continued commitment to deficit reduction. “These major changes on stamp duty and business rates will be a shot in the arm for families and growing firms as they look towards 2015. [...]
Pensioners warned not to splash all their cash on a Lamborghini as Treasury unveils pension rules July 21, 2014 Pensioners tempted to splash all of their cash in one go on a new Lamborghini are being warned they would face a tax bill of £63,000, ahead of today’s confirmation from the government that it will push ahead with the biggest shake-up of the pensions industry in a century. Research by financial services provider NFU [...]
Radical uncertainty: Why the Scots could ignore business and follow the crowd September 16, 2014 AFTER months of Trappist silence, a plethora of large companies has pronounced on the adverse consequences for Scotland of a Yes vote tomorrow. The sectors span the economy – from oil to banks, from supermarkets to phone companies. But what will the effect of these interventions be? From the perspective of a rational economic person, [...]
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 [...]
Giving: The City’s secret hobby December 18, 2014 With hundreds of millions given away each year, the financial services industry is one of the most charitable around. On the day they call the Notting Hill Carnival of the City, employees of leading brokerage firm ICAP come into work in fancy dress for an afternoon of trading, with all revenues raised going to charity. [...]
Top five tips for buying property at auction for beginners August 14, 2014 There’s more than one way to buy a property, but a significant proportion of buyers still favour making a trip to the estate agent or, increasingly, searching online to find their next home. For years, savvy property investors have found bargains in auction houses, where a vast range of buildings, from period houses in need [...]
US consumer confidence drops unexpectedly in November November 8, 2013 US consumer confidence has dropped unexpectedly in November, with a flash estimate coming in at 72.0, following expectations of 74.5 and last month's (apparently shutdown-induced) near-year low of 73.2. Amna Asaf of Capital Economics comments that the decline is disappointing, but adds that "it is hard to square with the improvement in the normal key drivers [...]
Clueless about tax: singer Katie Melua defends sign up to tax avoidance scheme Liberty July 12, 2014 Singer-songwriter Katie Melua has come under fire after it was revealed that she signed up to a controversial tax avoidance scheme. Called Liberty, it works by creating artificial tax losses on investments which can be off-set against a person's tax bill. The scheme was exposed during a two week investigation by The Times into [...]