Chasing “financial independence retire early” (FIRE): is it possible? March 8, 2021 | City Talk At what age are you planning to retire? For many the standard answer to this is “somewhere in my 60s or beyond”. Schroders analysis suggests that if you start saving for your retirement at age 20, you’ll need to save between 12% – 15% of your salary for 40 years to retire on 50% of your [...]
Budget 2021: Government to guarantee five per cent mortgages on homes up to £600,000 March 3, 2021 The government will introduce a new scheme that will allow individuals to put down just a five per cent deposit on homes valued up to £600,000. From April, the government will introduce a the scheme that will provide a guarantee to lenders across the UK that offer mortgages to people with a deposit of five [...]
Budget 2021: Pensions lifetime allowance frozen for five years March 3, 2021 The pensions lifetime allowance will be frozen at its existing level until April 2026, in a move that effectively decreases its value when inflation is taken into account. The Chancellor today said the lifetime allowance would remain at its current £1,073,100 for the next five years, rather than increasing in line with inflation. The move [...]
G20 nations including UK agree to raise IMF funds March 2, 2021 The G20 agrees to inflate IMF funds as a gesture to poorer countries to help them recover from pandemic.
May the forest be with you! Putting a price on nature March 2, 2021 | City Talk Natural resources are often seen as free inputs that any company may use to produce an output. The exploitation cost alone is how firms assess a natural asset’s monetary value. In this way, natural resources tend to be seen as infinite: there is no clear sense of how overexploitation can destroy surrounding ecosystems. Today, many [...]
Sterling loses early gains as new mutations dent vaccine optimism March 1, 2021 Sterling failed to hold onto early gains on Monday, as concerns over cases of a new Brazil coronavirus variant dented hopes that the UK’s swift vaccine rollout will usher a speedy economic recovery. The pound soared as high as $1.3999 in Asian trading, after retreating from a three-year high on Friday amid inflation concerns. In [...]
British family sells $10m Van Gogh to avoid rise in capital gains tax February 26, 2021 A British family are selling a Vincent Van Gogh drawing for a record breaking $10m (£7.1m) to avoid a potential rise in capital gains tax in next Wednesday’s budget. Thomas Gibson, a London art dealer, and his three sons have decided to sell the Van Gogh alongside seven other works, including art by Lucian Freud [...]
Exclusive: UK finance leaders want buoyant investment as we enter post-Covid world February 26, 2021 UK finance leaders are gearing up for a year of eager investment as Covid recovery prospects boost economic positivity, according to a report by procurement consultancy Proxima. The survey found that a combination of political change and post-Covid visions are underpinning an overwhelmingly positive outlook. So, what will the future bring for the UK’s wounded [...]
Four women nab top roles at City watchdog the FCA February 25, 2021 Four women have won top jobs at the Financial Conduct Authority (FCA), where they will sit on the executive committee – the regulator’s most senior executive decision-making body. Stephanie Cohen will be the FCA’s new chief operating officer and Jessica Rusu the first chief data, information and intelligence officer at the regulator. Sarah Pritchard will [...]
Wall Street tanks as tech stocks drag down market February 25, 2021 Wall Street has tanked today, with technology stocks in particularly dragging down the markets. The S&P 500 was down more than 2 per cent at one point, and retreating technology stocks dragged the Nasdaq down more than 3 per cent, as the benchmark 10-year note yields surged above 1.6 per cent to the highest in [...]