As the founder of US industry giant Lending Club resigns under a cloud, is this the beginning of the end of P2P? May 11, 2016 Bill Blain, a strategist at Mint Partners, says Yes. Lending Club is a long expected smell-the-coffee moment for the sector. The firm sold loans to an investor that did not conform to its instructions, highlighting multiple regulatory risks. The sector is vulnerable to bad news, exacerbating the slow growth and overspending problems many platforms face. It’s [...]
Six of the best challenger banks: Disgruntled with HSBC, Lloyds, RBS and Barclays? We highlight the cream of the alternatives May 11, 2016 The big four high street banks – that’s Barclays, Lloyds, HSBC and RBS – have had their fair share of scandal over the years and many people have been left disgruntled with the service they’ve received. There’s been a lot of inertia in banking, with few people willing to move their main account. Nearly 60 per [...]
Investment by private equity firms across Europe rose in 2015 as buyouts climb May 10, 2016 Private equity investment across Europe grew by 14 per cent last year as investors pumped more cash into startups and high-growth firms across the continent. A total of €47.4bn was invested into companies by private equity firms in 2015, according to industry association, Invest Europe, up by one-seventh on last year. "Despite volatile financial markets and macroeconomic [...]
China’s drowning in debt, defaults are rising and investors have turned bearish as corporates must pay back billions this year May 10, 2016 China's massive debt levels have started to spook investors. The country’s corporate borrowers face a record $571bn of debt that’s due to mature this year, according to figures from Bloomberg. That’s cash they’ll either have to pay back or refinance. Too bad, then, that sentiment towards local debt has begun to sour. There has been a [...]
Live: Pensions lifeboat says that it had concerns about the BHS pension scheme in 2012 May 9, 2016 The BHS' pension scheme was on the Pension Protection Fund's (PPF) radar as far back as in 2012, MPs were told today. Alan Rubenstein, chief executive of the PPF, also explained to a committee hearing that the scheme had a 23-year recovery plan at that point, which is significantly longer than would usually be allowed. Lesley Titcomb, [...]
Sports car manufacturer Zenos Cars aims for £750,000 crowdfunding investment round May 9, 2016 High-performance car maker Zenos Cars is looking to raise £750,000 through crowdfunding site Seedrs to fuel its expansion. The campaign, which got underway at the end of last week, has already raked in over £102,000, 14 per cent of its goal. Zenos has sold 100 cars, which start at £26,995, since the company was founded three years ago. Read more: Classic [...]
People really want to invest in equities but don’t know where to start May 9, 2016 Many people would love to try to boost their savings pot by having a go at investing in equities, but don't have a clue where to begin, research out today has found. According to the survey by equity crowdfunding platform SyndicateRoom, almost half (46 per cent) of people were keen to invest in shares on the public [...]
Nationwide becomes latest lender to up its mortgage loan age limit May 9, 2016 In yet another sign millennials are drawing on the bank of mum and dad (or perhaps, grandma and grandad), Nationwide raised its mortgage borrowing age limit from 75 to 85. It means a 60-year old who is able to afford the repayments can take out a 25-year mortgage, Nationwide said. The loan limit is £150,000 and it can [...]
Should you believe in unicorns? Tech start-ups have polarised investors with Bill Gates calling for restraint but others arguing new tech will change the world May 9, 2016 The sad demise of unicorns was widely predicted at the start of the year. Unicorns – or young, technology private companies valued at over $1bn (£693m) – drew vast sums of investment throughout last year and comparisons with the dot-com boom were drawn. There are around 170 companies with unicorn status, according to Fortune. Some are [...]
Man Group becomes latest firm to face shareholder ire over executive pay May 6, 2016 Man Group has become the latest firm to stoke shareholder ire over executive pay, after a significant number of shareholders voted against its remuneration report. The investment manager's executive pay package was rejected by nearly 40 per cent of its shareholders, but it still passed as around 60 per cent were in favour. Read more: RBS [...]