The recently retired are now richer than under-45s for the first time in history, Resolution Foundation report finds December 10, 2015 Generous pensions and investments in property mean that recent retirees are now a collectively wealthier generation than the under-45s for the first time in history. New research reveals those aged between 65 and 74 hold 19 per cent of the UK's wealth, while it now stands at 16 per cent for those aged under 45 despite the younger population [...]
How P2P can take the strain of tighter bank capital rules December 10, 2015 Harriet Green asks Assetz Capital where platforms will go from here – and where the pitfalls lie Should retail investors be worried about the rise of institutional money in the peer-to-peer (P2P) industry? What should we think about the growing role of funds within it? And is it just banks who will find their [...]
UK Pensions: Around five million annuity holders could be about to find out more about how to sell their fixed income for a lump sum December 8, 2015 An estimated five million annuity holders could soon have a clearer idea of how they could resell their retirement income stream for a cash lump sum in the next few days. Hargreaves Lansdown Pensions today pointed out that the Summer Budget revealed the government will set out plans for the secondary market for annuities in the autumn, meaning [...]
Pub lunches and buying a pet: The low-cost lifestyle changes you can make to be happy in middle age December 7, 2015 Alright, so the older generation may be the most well-off – but according to new research, splashing the cash won't necessarily make you happy. A study by retirement income specialist Age Partnership has put together the definitive list of lifestyle changes over-55s can make to stay happy as they get older – and it turns [...]
Meggitt shares waver after as it expects more savings in 2016 December 7, 2015 Shares in Meggitt rose this morning, after the aerospace and defence group said that although headwinds it experienced this year will continue into 2016, they will be largely mitigated by cost cutting. Meggitt, which manufactures parts for aerospace, defence and energy companies, expects organic revenue growth to be in the low- to mid-single digits in civil aerospace, civil aftermarket and military. [...]
Australia’s investing millions to create a tech boom as mining declines December 7, 2015 Australia will invest millions in an attempt to create a new tech boom, as mining in the country declines. An AUS$1.1 billion (£534m) package of measures designed to encourage entrepreneurship and new business includes reduced capital gains tax for startups, income tax rebates for retail investors and immigration changes to hire talent. "The mining boom, [...]
UK businesses’ total borrowing against invoices reaches £16bn December 7, 2015 Businesses have borrowed £16bn against unpaid invoices, according to figures released today by the (ABFA) Asset Based Finance Association. Firms have also borrowed £4bn against property, stock, machinery and intellectual property. The total £20bn in asset backed lending is up four cent on this time last year. It is also up from £13.4bn in 2009. [...]
Investors pile on pressure over top HSBC pensions December 6, 2015 HSBC has made good the changes to executive pensions it promised in its last remuneration report, earlier this year. The bank will be cutting pension payments to its top executives from 1 January, bringing it in line with similar FTSE companies. The current arrangement means the banks chief executive, chairman, and two executive directors can [...]
Half of men over 50 will miss out on £572 a year when the new state pension system starts in April December 4, 2015 The new state pension system is not good news for everyone, with around half of men now in their 50s set to receive a lower retirement income under the new system, official analysis shows. Research from the Department of Work and Pensions (DWP) reveals those in their early 50s will lose as much as £11 a week [...]
Crowdfunding platform Funding Circle is the third biggest lender for small businesses in the UK behind only RBS and Lloyds December 3, 2015 Proving the power of crowdfunding, the third biggest lender to UK small businesses isn't a bank or building society but peer-to-peer lending platform Funding Circle. In the three months from July to September, RBS lent £290m to SMEs, Lloyds lent £275m, and Funding Circle came third, having lent £91.5m, ahead of Aldermore, Yorkshire Building Society and Shawbrook. In [...]