FCA’s Tracey McDermott announces UK Debt Market Forum at ABI Conference November 3, 2015 Tracey McDermott, acting chief executive of the Financial Conduct Authority (FCA), revealed today that the FCA would be creating and chairing a UK Debt Market Forum. Speaking at the Association of British Insurers (ABI) Biennial Conference, McDermott explained: “This group will bring together the collective wisdom of a broad range of parties including industry, government [...]
UK bioscience sector secured a record £1.2bn investment last year, but scientists warn cuts will hold Britain back October 15, 2015 Britain's biosciences sector netted a record amount of investment last year, according to research by the BioIndustry Association (BIA) and professional services firm EY. Over the 12 month period, it secured £1.2bn in public equity and venture capital funding – more than double the £498m it raised in 2013, and the highest level since the [...]
Welfare coddles pensioners at the expense of the working poor – but it needn’t be like this October 29, 2015 The two biggest drivers of government spending, welfare and the NHS, will continue to dominate the political agenda this Parliament. Thanks to Monday’s vote in the House of Lords, delaying changes to tax credits, a £4bn hole in the government’s spending plans has now opened up. As ministers rethink their plans, they should address another [...]
Fewer FTSE 250 executives took a pay rise this year but bonuses are still 120 per cent of salary according to Deloitte report November 13, 2015 FTSE 250 “are once again demonstrating restraint” in their salary awards, in response to investor pressure. This year 38 per cent of chief executives and 29 per cent of executive directors received no pay rise, up from last year when 30 per cent and 27 per cent respectively had no salary increase, according to a Deloittereport, [...]
Green bonds: London is leading the world in financing the global low carbon shift October 22, 2015 While the dominant colour in London this week has been red for the landmark state visit of Chinese President Xi Jinping, today the London Stock Exchange will be adding some green to the palette as we host our inaugural China Green Bond conference in partnership with the Green Finance Committee of the People’s Bank of [...]
Tax credit changes: House of Lords slams government by voting twice to delay tax credit cuts October 26, 2015 In a move that Downing Street has accused of breaking convention, the House of Lords has twice voted to delay the implementation of the government's controversial tax credit cuts, backing amendments from both Labour peer Baroness Hollis and crossbench peer Baroness Meacher. Baroness Hollis's amendment, which passed 289 to 272, required a three-year "transitional period" with "full protection" for [...]
Morgan Stanley analysts: There’s a one in three chance of Brexit – which could lead to recession, a divided Conservative party and second Scottish independence referendum November 4, 2015 There is a one in three chance of the United Kingdom voting to leave the European Union, according to analysts at Morgan Stanley, who believe an "out" vote could lead to recession, rising inflation and uncertainty for the UK. The investment bank has placed a 35 per cent chance on the UK voting to leave the EU in [...]
The certified investor: IW Capital and Money&Co’s Luke Davis on how to avoid a regulation deluge in the crowdfunding industry January 14, 2016 Before crowdfunding, plenty of private equity and investment firms were already helping their clients to raise money and make investments in smaller firms via the Enterprise Investment Scheme (EIS) tax relief. Now, some of the individuals involved have branched out into crowdfunding. Meanwhile, the newest entrants into the crowdfunding market, particularly within equity, are structuring [...]
Autumn Statement and Spending Review 2015: The verdicts on George Osborne’s proposals November 26, 2015 THE BUSINESS GROUP HEAD CAROLYN FAIRBAIRN, CONFEDERATION OF BRITISH INDUSTRY, DIRECTOR-GENERAL The apprenticeship levy will be a big extra payroll tax on employers and widening the net will hit Britain’s smaller firms. This was a good spending review for longer-term investment in the economy but there’s a sting in the tail in the size and [...]
Autumn Statement 2015: What do free marketeers want from chancellor George Osborne and what do they think they’ll get? November 24, 2015 True to chancellor George Osborne’s record, tomorrow’s Autumn Statement promises to be a highly politicised event and one that has been mired by recent events including the Paris attacks, borrowing figures and controversy around cuts to tax credits, departments, services and welfare. Forgetting the political theatre, just what do free marketeers want from this Budget? Tax credits Let's [...]