UK pensions: A pre-funded state pension scheme would be fairer for the young, MPs told April 25, 2016 People should pay for their own retirement, rather than funding the golden years of the generation ahead, a hearing on intergenerational fairness has been told today. Speaking in front of the Work and Pensions Committee, Philip Booth, editorial and programme director at the Institute of Economic Affairs, argued that a system whereby people saved up [...]
Taxman pockets roughly £87m from people who missed the tax return deadline April 25, 2016 Despite being warned about a £100 late filing penalty, it appears that some people still forgot to circle 31 January in their diary with red pen. According to statistics released today from the Institute of Chartered Accountants in England and Wales (ICAEW), 870,000 people missed the 31 January 2016 deadline for filing their tax return online. [...]
Brace yourself, bosses: Leading investor reveals it shot down resolutions at almost one in five AGMs last year April 25, 2016 As companies such as Shire and AstraZeneca brace themselves for a rocky AGM season, one major asset manager has today revealed that it has been voting no for some time now. Legal & General Investment Management (LGIM), which held assets worth over £750bn at the end of 2015, has revealed that it shot down at least one resolution at [...]
The fortune of billionaire hedge fund manager Crispin Odey dwindled to mere millions last year April 22, 2016 The wealth of one of the UK's best-known hedge fund managers dwindled from billions to mere millions last year, new data has shown. The heart bleeds… According to figures from the Sunday Times Rich List, the fortune of Crispin Odey – the outspoken founder of Odey Asset Management – fell £200m in 2015, from £1.1bn to £900m. But [...]
How technology is driving investor interest in British entrepreneurs April 22, 2016 Investors are increasingly interested in British entrepreneurs, according to a new report. Growth capital raising in the UK, driven by automating technology, totalled £360m across 76 transactions in the first quarter, research by Kingston Smith found. The report noted that the figure was down from £405m across 99 transactions in the first quarter of 2015, but [...]
Financial services watchdog reveals more information on the secondary market for annuities April 21, 2016 The financial services watchdog has today asked for feedback on its proposed rules on the second-hand market for annuities. Suggestions by the Financial Conduct Authority (FCA) include requiring brokers to set out charges up front and agree them directly with the customer, rather than receiving a commission from firms acting as buyers, and to provide [...]
P2P lending: Does the industry need more than just transparency? April 21, 2016 "Skin in the game” is an expression thrown around a lot in the P2P industry. Platforms don’t have banking licences and the majority don’t lend off their own balance sheets. So the question for some time now has been “what loss position will the platform take in the event of loan failure?” With increasing talk [...]
The City wades in to Queen Elizabeth II’s birthday celebrations – with some right royal investment tips April 20, 2016 You may have heard, the Queen has a big birthday coming up. Her Majesty will be turning 90 on Thursday 21 April. This is a big and historic moment in the history of the nation and London’s public relations and marketing industries wouldn’t have their world famous reputation if they let an opportunity such as this [...]
Not a very regal retirement: The Queen would be living on £18k a year if she saved as we do April 20, 2016 The Queen's 90th birthday throws into sharp perspective the changes that have taken place in our retirement system. Ninety years ago, saving for a pension wasn't even a consideration. Then came the 1960s, when people began living longer and the concept of 10 years' retirement after the age of 60 became possible. For several decades after, [...]
Ethical investing: How to get started April 20, 2016 People used to call it nuts – but ethical investing has changed radically. Whether its termed ethical, responsible, or sustainable investing, the aim is generally the same. It's investing your money in businesses which have some intention of making the world a better place. Barely a week goes by without newspaper headlines about corporate tax avoidance, [...]