David Cameron is to call for moral capitalism: He needs to tackle moral hazard first November 7, 2011 IT IS widely expected that the Prime Minister is going to start calling for a more moral form of capitalism. I have a simple test of whether a politician is trying to debate, or avoid, tough policy questions – I ask myself whether anybody would disagree with the opposite of what the politician is calling [...]
MPs join fight for financial education January 18, 2011 A PARLIAMENTARY lobbying group campaigning for compulsory financial education in schools will launch on 31 January, with the backing of prominent MPs and industry experts. Chaired by Conservative MP Justin Tomlinson, the all-party parliamentary group is attracting widespread support even before its official launch, with more than 70 MPs interested in joining. Tomlinson will be [...]
MPs join fight for financial education January 18, 2011 A PARLIAMENTARY lobbying group campaigning for compulsory financial education in schools will launch on 31 January, with the backing of prominent MPs and industry experts. Chaired by Conservative MP Justin Tomlinson, the all-party parliamentary group is attracting widespread support even before its official launch, with more than 70 MPs interested in joining. Tomlinson will be [...]
WHAT THE OTHER PAPERS SAY THIS MORNING August 25, 2011 FINANCIAL TIMES BREVAN HOWARD CAPITALISES ON TURMOIL Brevan Howard, the world’s largest macro hedge fund, has made close to $1.5bn over the past three weeks on the back of turmoil in the global markets. In a month in which equity markets worldwide have seen declines of more than 10 per cent, the gain comes as [...]
PERSONAL FINANCE NEWS May 13, 2010 POST OFFICE HAS NEW GROWTH BOND The Post Office has just launched a new growth bond, which offers one-, two- and three-year terms and with rates up to 4.10 per cent AER. The Growth Bond Issue 12 has a minimum opening deposit of £500 and a maximum of £1m. But additional deposits aren’t allowed and [...]
Bank of America to axe 3,500 jobs August 19, 2011 Bank of America is cutting 3,500 jobs this quarter according to an internal memo, as the biggest US bank grapples with its $1 trillion (£607BN) problem-loan portfolio and growing economic concerns. The job cuts at Bank of America, expected to be completed by the end of September, are the latest in a series of lay-offs [...]
Tightest squeeze on income since 2009 July 24, 2011 BRITONS’ incomes faced their tightest squeeze in two and a half years in July, as the rising cost of living and high personal debt weighed down on household budgets. Over a third (38 per cent) of people reported a deterioration in their household’s finances compared to just a month earlier, according to a poll by [...]
Tightest squeeze on income since 2009 July 24, 2011 BRITONS’ incomes faced their tightest squeeze in two and a half years in July, as the rising cost of living and high personal debt weighed down on household budgets. Over a third (38 per cent) of people reported a deterioration in their household’s finances compared to just a month earlier, according to a poll by [...]
PERSONAL FINANCE NEWS May 6, 2010 CHELSEA OFFERS FIRST ONLINE ACCOUNT Chelsea Building Society has launched its first ever online account, the e-Saver Reward. The account, which pays monthly interest of 2.57 per cent (2.60 per cent AER), is available to UK residents aged 16 and over and has a minimum deposit of £1. Withdrawals can be made online with only [...]
Tribunal backs £2m FSA fine for hedgies August 15, 2011 THE UK’s tribunal system has upheld the Financial Services Authority (FSA) decision to ban two hedge fund executives and fine them a total of £2.1m for market abuse and deceiving investors. Michiel Weiger Visser, who was chief executive of Mercurius Capital Management at the time of the abuses, was handed a £2m penalty for breaching [...]