How the experts would invest £1,000 in an ISA right now February 8, 2021 Stocks and shares ISAs are a tax-efficient way to potentially grow your money by investing, so they should be an essential part of your overall wealth planning. But, with such a wide array of investment choice, the hardest part is deciding what to put in them. To give you some food for thought, we asked [...]
Calls to ‘send Philip Green the bill,’ as pension lifeboat fund begins Topshop assessment February 4, 2021 There have been fresh calls for the government to step in and demand retail tycoon Philip Green to plug Arcadia’s pension deficit, as the pensions lifeboat fund begins assessing the scheme. Earlier this week online retailer Asos said it had bought Topshop, Topman, Miss Selfridge and HIIT brands from Arcadia, which fell into administration in [...]
City watchdog to crack down on ‘buy now pay later’ firms February 1, 2021 The City watchdog is preparing to move in on so-called buy now pay later firms such as Klarna following a review of the unsecured credit market. The Financial Conduct Authority (FCA) will this morning publish a report by interim chief executive Chris Woolard recommending that the sector be brought under the regulator’s remit, Sky News [...]
Pension funds will reap rewards from playing a part in the UK’s green drive January 28, 2021 In November, heads of state, climate experts and campaigners will come together in Glasgow for the United Nations Climate Change Conference, the biggest summit ever hosted by the UK, to discuss, and commit to, ambitious climate targets and concrete steps to protect our planet. International collaboration is essential, but the success of global action will comprise the [...]
Experian reports ‘better-than-expected’ quarter as revenue grows January 19, 2021 Credit scoring giant Experian (EXPN) reported a better-than-expected third quarter after a strong performance by its North America division. Total revenue at constant exchange rates grew 10 per cent in the three months to the end of December. Experian’s North America and Latin America divisions grew 11 and 16 per cent respectively, but the UK [...]
Data-hungry fintech firms urge FCA to ‘break’ banks this year January 2, 2021 A coalition of London startups is calling on the Financial Conduct Authority to end the dominance of banking institutions over the use of consumer data this year. The firms argue it would increase competition in the savings, credit, mortgages and pensions markets. The Coalition for a Digital Economy (Coadec), an advocacy group that represent a [...]
Exclusive: PensionBee accelerate IPO plans after lockdown growth December 26, 2020 PensionBee boss Romi Savova has said her firm will accelerate its plans for London IPO after Brits increasingly turned online for financial advice during 2020. “There is an evident trend of people using the additional time during lockdown as an opportunity to review their finances and look for ways to further their money,” the founder [...]
FCA fines fall by half in 2020 as Covid takes hit on enforcement December 21, 2020 The Financial Conduct Authority handed out £183.6m worth of fines this year, more than half the total bill in 2019. The number of fines has fallen too, from 21 to just ten. Lawyers believe the slowdown is due to the pandemic disrupting enforcement activities, not least the FCA’s ability to conduct witness and suspect interviews. [...]
Curve and Plaid team up to bring open banking to UK customers December 16, 2020 Curve, a smart banking platform, has joined forces with Plaid, an open finance data network, to help people manage their money.
Exclusive launch interview: CEO Jason Oakley on Recognise, Britain’s newest bank December 9, 2020 Following FCA approval of a banking license application in November, SME lender Recognise’s banking operations formally launch this morning with four branches in the City, Manchester, Leeds and the Midlands, as well as an app and online platform. To mark the arrival of Britain’s newest bank, City A.M. sits down with CEO Jason Oakley, a former head of [...]