£500m Future Fund launch mired by fears startups will miss out May 20, 2020 Future Fund, the government’s £500m answer to startups’ need for cash to survive coronavirus, is set to launch today – but risks freezing out a swathe of British firms, entrepreneurs and investors have warned. That many startups cannot yet demonstrate a turnover, and that they typically rely on equity investment for cash flow, excludes most [...]
Women in Banking & Finance are recruiting a new President May 19, 2020 Women in Banking & Finance are now recruiting for a new President. BACKGROUND Women in Banking and Finance Limited (“WIBF”) is a not for profit company (registered with company number 10982879) whose registered office is 80-83 Long Lane, London EC1A 9ET. WIBF was founded in 1980 in the UK and Ireland and is staffed primarily by voluntary Executive and Management Committees, [...]
Slumping economy, surging stock market– what’s going on? May 18, 2020 | City Talk While tens of millions of Americans were losing their jobs, the stock market in April produced its best monthly return in over 30 years. We look at what’s behind this apparent disconnect. 36 million Americans filed for unemployment claims over the past eight weeks. US GDP plunged by 4.8 per cent in the first quarter [...]
UK households gloomy about finances as coronavirus crisis hits home May 18, 2020 UK households were slightly more positive about their finances in May than in April, but the month still ranked as one of the most pessimistic since 2009. IHS Markit’s UK household finance index (HFI) – which measures households’ overall perceptions of financial wellbeing – recorded 37.8 in May, up slightly from April’s eight-and-a-half year low [...]
Record dealing volumes fuel Hargreaves Lansdown’s revenues May 14, 2020 Hargreaves Lansdown enjoyed record dealing activity in March and April, as market volatility helped to push revenues up 13 per cent. The coronavirus-induced turbulence over the past two months saw Hargreaves Lansdown reach new daily records and monthly dealing levels more than double the highs experienced before in this period. The figures Revenue for the [...]
Why staying close to your accountant matters more now May 13, 2020 | City Talk Accountants exist to ensure the accuracy of financial statements and advise how to save money or boost revenue. The coronavirus pandemic, then, with its profound and deepening impact on the economy has jolted the profession like all others. Depending on their role, accountants have been battling to keep on top of the unprecedented flurry of [...]
Exiting lockdown: where’s ready, where’s not, and where risks a second wave? May 13, 2020 | City Talk In collaboration with Schroders’ Data Insights Unit, we’ve looked into the global state of lockdown and compared this with estimated reproduction numbers (R) to identify who is ready to exit lockdown, who is not and who is potentially exiting prematurely. Here’s what we found in summary: While China and Korea were the first to exit [...]
L&G agrees two pension risk transfer transactions with IHS Markit May 13, 2020 Legal & General has today announced it has agreed two pension risk transfer transactions with information provider IHS Markit, one in the UK and one in the US. The UK transaction was for £37.8m, covering around 150 members, while the US transaction was £78.4m, covering around 1,200 members. The financial services group also confirmed it [...]
Brewin Dolphin’s profit dips despite increased demand for advice May 13, 2020 Wealth manager Brewin Dolphin’s profit took a hit in the first half of the year, despite an increase in demand for financial advice during the market turbulence. In a market update for the six months to March, Brewin Dolphin reported that statutory profit before tax had dropped 5.1 per cent to £28.2m, down from £29.7m [...]
Covid-19: why the tech giants have emerged as winners May 12, 2020 | City Talk While many businesses struggle to survive under the global lockdown, the largest technology companies remain afloat and in some cases are even thriving. Microsoft has reported a surge in usage of its cloud computing service Azure, as millions of people work from home. Amazon is hiring an additional 75,000 workers, on top of the 100,000 [...]
