EU moves toward new regulatory crackdown on HFT January 15, 2014 The European Union has agreed to introduce a plethora of new regulations governing high frequency trading (HFT,) commodity speculation and derivatives trading. The measures come shortly after the introduction of a cap on banker bonuses. The revision to the Markets in Financial Instruments Directive (MiFID) is to be implemented by the end of 2016 and [...]
It’s time to embrace deferred gratification and to start saving January 21, 2014 WOW. We knew that the pension crisis was bad – but in reality it’s even worse than that. The situation is catastrophic: the average pension pot is just £36,800, and many people have nothing at all. On current paltry annuity rates, that is just enough to generate a retirement income of a miserable £1,340 a [...]
Tax crackdown on partnerships aims for £7bn December 5, 2013 A PACKAGE of measures to curb tax avoidance were included in yesterday’s Autumn Statement, in a move the chancellor says will raise nearly £7bn. Osborne outlined a two-pronged crackdown on company partnerships used to reduces taxes for hedge fund managers’ salaries and disguise company employees as self-employed partners to avoid income tax. “Most wealthy people [...]
Reactions to the chancellor’s statement December 5, 2013 THE BUSINESS GROUPDirector general of the CBIJohn Cridland The CBI had lobbied the government to cap business rates at two per cent and support business finance. “We have always advocated the dual approach of tackling the deficit and driving growth – the OBR forecasts confirm it is working. Let’s stick with what works. “The pressure [...]
The three geopolitical red herrings that won’t spook markets this year January 12, 2014 EACH year, we release our Top Risks report, where we consider the ten biggest geopolitical threats to markets and economies, judged by probability and potential impact. What’s at the top of our list for 2014? Uncertainties about America’s foreign policy and China’s ambitious domestic reforms create the potential for volatility and surprises this year and, [...]
British Politics: The 2014 events that will settle the next election January 5, 2014 WE ARE in a state of unusually high political uncertainty. By this stage in the electoral cycle, one usually has a sense of who the next winner is likely to be. But this time we have a high level of unpredictability. The 2015 election will be the first ever with the date known well in [...]
US service sector defies analysts as growth ramps up November 5, 2013 One measure of US service sector growth – the ISM non-manufacturing purchasing managers' index (PMI) – just showed an increase in October. Analysts had forecast a fall from 54.4 to 54.0, but instead the headline PMI number rose to 55.4. Any number above 50 implies an expansion in non-manufacturing activity, so this higher number suggests [...]
Government is making high streets suffer and the situation may worsen December 18, 2013 WHATEVER the chances of a last-minute Christmas shopping spree, the retail climate remains difficult. To assist troubled high streets, the chancellor’s Autumn Statement appeared to make a valiant effort to address complaints about business rates, long resented as an excessive tax burden on retailers. For the first time ever, the uniform business rate rise will [...]
Carillion downsizes energy unit due to low Green Deal uptake October 3, 2013 FTSE 250-listed support services and construction firm Carillion yesterday said that it would be downscaling its energy services division, after the government’s Green Deal failed to take off. The company said it would take a £40m charge as a result of the restructuring. Numbers of people signing up to the government financing scheme for people [...]
ACCA Comment: The financial reporting revolution February 18, 2014 Real-time data and integrated reports are sparking debate IT’S REPORTING season, but there is more to it than just profit and loss. What, how and when financial information is reported is a key issue for investors, and it is equally relevant to finance chiefs and the companies they work within. ACCA-qualified management accountants are no [...]