Millennials’ “live now, pay later” motto has made them clueless about saving and understanding interest rates September 7, 2016 Millennials may be a health-conscious bunch that are drinking less and even shunning bacon as part of their lifestyle choices, but they are absolutely clueless about one thing: money. The “Yolo” (you only live once) generation is getting by on a "live now, pay later" motto, according to new research. A quarter (26 per cent) of young Britons in the [...]
Sports Direct AGM: Retailer issues earnings warning as it asks chair Keith Hellawell to stay on board despite offering to step down September 7, 2016 Sports Direct has issued a number of updates to the market this morning – including a warning of a dip in earnings and profit this year – ahead of its AGM, due to start at 11am. The retailer said it expects underlying profits for the full year to come in £120m lower than previously expected, while earnings [...]
Hargreaves Lansdown chief prepares to depart as firm reports Brexit boost September 7, 2016 Market volatility driven by the EU referendum helped boost trading volume for Hargreaves Lansdown during the year to 30 June, the broker said today as it unveiled a bumper set of results. Separately, the company announced this morning that chief executive Ian Gorham will step down no later than 30 September next year. Chief financial officer [...]
The Co-op is exploring blockchain technology September 7, 2016 The Co-Operative Group is exploring how blockchain technology can be used to prove the authenticity of its food in a pilot of a "fairtrade for the digital age" project. The supermarket is working with early stage blockchain startup Provenance to investigate how its technology can be used to track that its produce comes from sustainable sources [...]
Scottish widows reveal Britain’s pension habits: saving nudges higher in second year of auto-enrolment September 7, 2016 The number of people relying on a defined benefit pension scheme has fallen to less than one in four according research released today. Scottish Widows said that just 24 per cent of people will rely on a final salary scheme as their main source of retirement income, down from 33 per cent last year. Meanwhile [...]
From auto-bid tools to cross-border transactions, here’s what you should expect from the alt fi sector September 7, 2016 The European alternative finance sector grew by 92 per cent to €5.4bn (£4.5bn) in 2015, according to Judge Business School’s latest report on the subject, Sustaining Momentum. Excluding the UK, that’s 10 per cent slower than in 2014, but shows, say the report’s authors, expansion across almost all alternative finance models. This slowing growth rate is [...]
London is still number one for fintech – and now we’re going global September 6, 2016 Ten weeks on from Brexit, the City is back to business following the summer, and the fintech community is as busy as ever working through its plans for an ever-changing world. While the uncertainty of Brexit may loom for some time, London is still the number one fintech hub on the planet. We have created [...]
Health-conscious millennials go bananas for fruit and herbal infusion teas September 6, 2016 Health-conscious millennials have been behind a boom in demand for fruit and herbal infusion teas sales this year at one of the world's fastest-growing premium tea brands. Young tea drinkers have pushed sales of non-traditional fruit and herbal brews up 43 per cent at Southampton-based Ahmad Tea in the last eight months alone. The bestselling blends have [...]
You’re on a runway to retirement: Here’s how to make sure you don’t run out of fuel September 6, 2016 Retirement may seem a long way off, but by the time you are 50 you could have only 180 monthly paydays left to make your financial preparations for your later years (and that’s assuming you continue working to 65 – your working life could end sooner than that). Think of yourself as being on a [...]
Don’t fall for the illusion of a good first impression September 6, 2016 "If you want us to invest, don’t upset the receptionist”. Passion Capital founder Eileen Burbidge sets great store by how those seeking investment from her treat the most junior of her employees. Walt Bettinger, chief executive of Charles Schwab, reportedly takes this even further. He invites prospective hires to breakfast, tips the waiter to provoke them [...]
