Ant Financial takes minority stake in fintech unicorn Klarna March 4, 2020 The highest valued fintech company in the world, Ant Financial, has taken a minority stake in payments platform Klarna. The “buy now pay later” specialist confirmed that Alipay owner Ant Financial had bought a less than one per cent stake, but refused to disclose how much it is worth. Ant Financial is part of the [...]
How to select a quality investment manager – or at least a decent one March 4, 2020 Humans are bad investors. Unfortunately, they think they are great at it. So how can you protect yourself from yourself? Here are your need-to-knows in finding an investment manager who might help. You are a bad investor If you have money, you were probably successful. Congratulations. That does not make you a good investor. Research [...]
Budget 2020: What is on the pensions industry’s wish list? March 4, 2020 As Rishi Sunak, the new chancellor, prepares for his first Budget next week, the pensions industry will be watching what happens with eagle eyes. Reports have circulated that the government, emboldened by its landslide General Election win last year, could bring in sweeping changes to how some people save for retirement. Some predict that Sunak [...]
DEBATE: Should the chancellor rethink plans to get rid of entrepreneurs’ relief in the Budget? March 4, 2020 Should the chancellor rethink plans to get rid of entrepreneurs’ relief in next week’s Budget? Caroline Plumb OBE, chief executive and co-founder of Fluidly, says YES. Critics of entrepreneurs’ relief want proof of its economic impact, but it’s not as simple as throwing a couple of headline figures around and dismissing beneficiaries as the already [...]
Pensions regulator launches consultation on tougher defined benefit rules March 3, 2020 The Pensions Regulatory (TPR) today launched a consultation on new tougher rules on the funding of defined benefit pension schemes. TPR is proposing a twin-track approach to funding defined benefit schemes, which are pension funds where an employer legally has to make up any shortfall in the event that the scheme is underfunded. Under the [...]
How does the stock market perform when the VIX fear gauge surges? March 3, 2020 | City Talk The spread of the coronavirus has sent shock waves through global stock markets. Alongside plummeting share prices, the VIX index, the market’s so-called fear gauge, has shot up. At the time of writing, on 28 February, it stands at over 40. This is very high compared to long-term norms. Since 1990, it has averaged 19 [...]
“Diversity drives better investor outcomes” says Margaret Franklin, CFA March 3, 2020 | City Talk Investors are bracing for a bear market sometime in the future. And when it comes, it will be more critical than ever for firms to embrace diversity on their investment teams and in their senior ranks if they want to deliver better outcomes for clients. That’s the reality and the challenge that Margaret “Marg” Franklin, [...]
DEBATE: Could Sir Philip Rutnam’s resignation turn into a major headache for the government? March 3, 2020 Could Sir Philip Rutnam’s resignation turn into a major headache for the government? Eliot Wilson, head of research at Right Angles and a former House of Commons official, says YES. The resignation of Sir Philip Rutnam is not just a spat between a Whitehall mandarin and his minister. Its impact goes much further than that, [...]
Draper Esprit leads $83m funding round in Thought Machine March 2, 2020 Technology company Thought Machine has raised $83m (£64.74m) in series B funding led by Draper Esprit. The venture capital firm, which has invested in a number of fintech businesses, contributed £26.5m to the funding for Thought Machine, a technology company that builds cloud-native technology for banks. Thought Machine’s banking platform, Vault, counts Lloyds Banking Group, [...]
It is staggering that breastfeeding at work is still an issue anywhere March 2, 2020 In January, House of Commons speaker Sir Lindsay Hoyle finally overturned a 20-year-old ban on breastfeeding in the chamber, saying: “If it happens, it happens. I won’t be upset by it.” It’s about time. I have just returned to work after having my second child, who I am still breastfeeding. As an employer myself, I [...]
