PERSONAL FINANCE NEWS November 18, 2010 BRITS TO WORK BEYOND RETIREMENT AGE Over 4m Brits aged 50-plus expect to work beyond their state retirement age by an average of just over six years, according to the first Working Late Index, published this week by insurance, investment and retirement group LV=. A quarter believe they will work five to 10 years more, [...]
Barclays shrugs off criticism of executive pay April 9, 2012 BARCLAYS is relaxed about the row over bonuses for its top executives and would be unfazed if an expected 10 per cent of shareholders vote against its remuneration report, said a source familiar with the bank’s thinking. The bank has shrugged off criticism amid suggestions that four of its biggest British institutional shareholders could cast [...]
Lloyds signs finance chief but job will be left vacant for two months March 1, 2012 LLOYDS Banking Group has clinched new chief financial officer George Culmer, after months of wrangling over his start date and pay package. But the part-nationalised bank will be left without a finance chief for the next two months because Culmer, who stepped down from insurer RSA in November, will not join until the Lloyds shareholder [...]
Rothschild and Rockefellers in joint venture May 30, 2012 THE ROTHSCHILD and Rockefeller dynasties have announced a tie-up that will see two of the world’s best-known business families join forces in the asset management industry. RIT Capital Partners, which is chaired and part-owned by Lord Jacob Rothschild, is to take a 37 per cent stake in Rockefeller Financial Services, the wealth manager. The multi-million pound [...]
SuperGroup shakes up team at the top March 20, 2012 SUPERGROUP has added two new executives to its board as the fashion house looks to strengthen its management team and expand its presence overseas. The company behind the Superdry brand said that Susanne Given, formerly John Lewis’ director of fashion and beauty, will take up the newly created role of chief operating officer next month. [...]
A Parliamentary blueprint to end banking hazards March 8, 2012 STEVE Baker MP has proposed a private member’s bill, the Financial Institutions (Reform) Bill, calling for radical reforms to the banking system and an end to state involvement in banking. Baker is co-founder of the Cobden Centre, a free-market institute advocating the restoration of sound banking and honest money, and is the Conservative MP for [...]
PERSONAL FINANCE NEWS November 11, 2010 FLEXIBLE DRAWDOWN SUITABLE FOR MOST Over 90 per cent of financial advisers think that flexible drawdown would be a suitable retirement solution for their clients, according to research conducted by pension product provider Suffolk Life. Suffolk Life’s John Moret said: “Industry statistics suggest that the number of new drawdown cases in 2010 is likely to [...]
Bold businesses must be able to grow in Britain March 18, 2012 FAIRNESS has rightly become central to the Budget debate. Personally I would like to see the income tax threshold raised, to allow lower earners to keep more of their hard-earned cash. But a bigger test of success for this Budget will be what measures the chancellor can introduce to drive economic growth. By the chancellor’s [...]
New property tax rules will stamp on UK developers April 17, 2012 FEW readers of City A.M. may have lost sleep over the chancellor’s decision in the recent Budget to impose a 15 per cent stamp duty land tax (SDLT) on acquisitions of homes costing over £2m by “non-natural persons”. After all, why shouldn’t we clamp down on the purchase of residential properties through companies, collective investment [...]
FSA issues £109,000 fine and bans ex-Royal Liver Assurance director March 8, 2012 REGULATORS have banned George McGregor, the former finance director of Royal Liver Assurance (RLA), for abusing his position and – in one case – forging the signature of his chief executive. However even though the Financial Services Authority (FSA) determined that his conduct “merited a fine of £1,000,000” the regulator reduced the sum to £109,000 due [...]