AA share price leaps as rating agency surprises on “terminal” debt pile April 13, 2018 Troubled breakdown firm AA was today delivered a huge boost by a leading credit rating agency. Facing a prospect of a downgrade which could be “terminal” for shareholders, S&P refrained lowering its opinion of the AA. Shares leapt almost five per cent after credit decision was announced. Weighed down by almost £3bn of corporate bonds [...]
We have paved the way for the next financial crisis December 6, 2018 Optimists believe that the last decade of roiling financial crisis and austerity is behind us, and that current fears of trade war, Brexit, populism, and market crashes are overblown. They hope for a global economy poised for many years of growth, increasing personal wealth and prosperity, and political stability. Sadly, hope is never a strategy. Realists, [...]
Africa needs fintech – but fintech needs Africa more August 30, 2018 What a difference a couple of decades make. At the turn of the century, Tony Blair remarked that “the state of Africa is a scar on the conscience of the world”. This week, on her first official visit to the continent, Theresa May embraced a new vision of optimism and hope. Read more: Theresa May [...]
The impact of a no-deal Brexit should set off alarm bells for the City’s finance firms August 28, 2018 Last week, the government produced papers assessing the impact of a no-deal Brexit scenario on various sectors, including financial services. It is concerning for the sector that a no-deal scenario is looking increasingly likely. The Bank of England governor Mark Carney ranks this possibility as “uncomfortably high”, while foreign secretary Jeremy Hunt suggested that there [...]
Death of the deposit: A new type of rental model is emerging, but could it be the next PPI scandal in the making? April 10, 2018 Most renters will be familiar with the drama that surrounds deposits. The average deposit in London is an eye-watering £1,765, according to the Tenancy Deposit Scheme. But saving up hundreds of pounds is only half of the battle. Recouping all of your cash at the end of your tenancy is often a huge headache, and [...]
RBS declares first dividend in a decade August 3, 2018 RBS declared an interim dividend of 2p, pending the settlement with the US Department of Justice (DoJ). This announcement was a pleasant surprise, and projects a positive image about the firm’s financial health. The UK government is a majority shareholder in the bank, and the dividend will be welcomed by Westminster, but the pay-out will [...]
The insurance industry needs to embrace blockchain, starting now January 31, 2018 In March 2017, the expression “financial inclusion” hit its peak popularity on Google. This is excellent news. There are over two billion unbanked individuals in the world today – people with no access to banking services. This is a global problem. In India, 19 per cent of the population – 1.2bn people – is unbanked, [...]
Every man’s office is his castle: Chris Morling tells us about the time his business unintentionally spread fake news September 17, 2018 What kind of boss decides to buy a castle and use it as an office? Apparently, a boss like Money.co.uk founder Chris Morling. While some might presume that purchasing a castle is merely a grandiose way of making a statement, Morling is far from a show-off. In truth, the idea started out as a [...]
Every man’s office is his castle: Chris Morling tells us about the time his business unintentionally spread fake news September 17, 2018 What kind of boss decides to buy a castle and use it as an office? Apparently, a boss like Money.co.uk founder Chris Morling. While some might presume that purchasing a castle is merely a grandiose way of making a statement, Morling is far from a show-off. In truth, the idea started out as a [...]
In a rare move, HMRC is refunding some parents who were liable for the child benefit charge – here’s what you need to know November 8, 2018 It is unusual for HMRC to admit that it has been too heavy-handed, so last week came as a welcome surprise to many parents who have been hit with fines in relation to child benefits. If you are responsible for bringing up a child under 16 (or under 20 if they are in education), you [...]