What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
Why Brexit could be the shock that saves the euro June 21, 2016 Threatened by the possibility of a British exit from the European Union, politicians across the continent have rightfully defended the fragile politico-economic bloc from a vote that could open the door for more countries to leave. But could such an upset potentially yield a brighter future for Europe and, more specifically, the countries that share [...]
Brexit causes gold rush – experts predict prices will hit $1,400 by month end if the UK votes to leave the EU June 21, 2016 The risk of Brexit has pushed up the price of gold, with every tightening of the bookmakers’ odds giving a boost to the value of the precious metal. The price of bullion is up 21 per cent so far this year, 8 per cent of which has come in the last month. Gold prices reached a [...]
Brexit and the pound: How hard will battered sterling hit our economy? June 21, 2016 The pound has strengthened as the latest polls show public feeling has swung towards a remain vote this Thursday. Sterling rose 2.3 per cent to $1.4693, the biggest one day gain in over seven years. The last time it rose this sharply was 12 September 2008, days before Lehman Brothers filed for bankruptcy. “Three polls over [...]
Prudentials pulls back from the UK open annuity market June 20, 2016 Prudential will no longer offer annuities on the open market and only make them available to existing customers, stoking concerns it will hit individuals' ability to shop around for the best deal. The insurer said it'd stopped accepting applications for conventional annuities from non-existing customers though financial advisors on 17 June. It cited reduced demand [...]
Vast majority of financial services chiefs expect shareholder rebellions over executive pay to continue, according to report released by Per Ardua June 20, 2016 Finance bosses are braced for more shareholder activism over executive pay, following a string of rebellions so far this year. More than eight in 10 respondents (82 per cent) to a Per Ardua Associates study said they were expecting to see more remuneration-focused activism from shareholders. A quarter (25 per cent) also said their companies were [...]
UK small businesses get £100m loans boost from European Investment Bank June 20, 2016 The European Investment Bank (EIB) has agreed to make a £100m investment in loans to small UK businesses through Funding Circle. The investment, along with £25m from the Funding Circle SME Income Fund, will enable more than £200m of new loans over seven years, the crowdfunding platform said. To date, Funding Circle said it has [...]
Week ahead: Volatile markets are forecast ahead of the referendum June 20, 2016 Recent wild swings in the FTSE 100 are expected to continue until the European Union referendum on Thursday as polls show the electorate evenly split on the decision. At last week’s close, the FTSE rose from a four-month low, up 1.2 per cent, to 6,021.09 points. It was, however, down 1.5 per cent for the week, [...]
Mercia looks for growth potential at universities June 20, 2016 Investment firm Mercia Technologies has partnered with four universities in the North of England and Scotland to source new opportunities. The universities – Heriot-Watt, Edinburgh Napier, St Andrews, and Sheffield Hallam – were chosen due Mercia’s regional expansion targets. The Aim-traded firm, which says it focuses on the creation, funding and scaling of businesses with high [...]
Ingenious Media joins Hejing Capital in historic $200 million film-making deal June 19, 2016 A London-based investment company has made history by becoming the first to take advantage of the UK-China film co-production treaty. Ingenious Media has partnered with Beijing’s Hejing Culture to co-finance and co-produce a series of independent films, in a deal worth $200m (£138m). Neil Forster, chief executive of Ingenious, told City A.M. that the first joint [...]