Revolution in Japan’s boardrooms could be just the medicine for ailing economy July 12, 2016 Japan's Prime Minister Shinzo Abe has declared victory in the weekend election after winning a majority in the parliament’s upper house. He will use the fresh mandate to press on with plans to reform the flailing economy – under the strategy dubbed “Abenomics” – and will also look at changing the country’s pacifist constitution. Japan’s [...]
At the close: FTSE 100 charges into bull territory as investors cheer leadership certainty and the weak pound drives up profits July 11, 2016 Well, there it is. The FTSE 100 has swung from bear market territory to a bull market in just over six months. The twists and turns of the day's political events gave a fresh boost to the global FTSE 100, while the UK focused FTSE 250 also posted strong gains. Housebuilders, such as Barrat Developments and [...]
Focus on retirement goals when saving for your pension, urge actuaries July 11, 2016 People need to shift their mindset on pensions away from what proportion of their paypacket they are saving to what kind of lifestyle they want in retirement, a report out today suggests. According to the research from The Institute and Faculty of Actuaries (IFoA), encouraging people to focus on what they want their pension pot [...]
Exchange-traded funds (ETF) market set to grow to $7 trillion by 2021 July 11, 2016 Assets under management in exchange traded funds (ETFs) are expected to more than double in size over the next five years, according to a report by PwC. They will increase from around $3 trillion to $7 trillion by 2021, according to PwC. Over that time, the market will expand through entering new markets and developing further distribution channels and asset [...]
Asset management growth has “stalled” to 2008 levels, new report finds July 11, 2016 The global growth of asset management "stalled" in 2015, marking its worst year since the 2008 financial crisis, a new report has found. Growth in assets under management (AUM) rose by one per cent globally to $71.4 trillion (£55 trillion), from $70.5 trillion. The figure grew by eight per cent in 2014 and averaged five per cent [...]
Investor confidence index drops to four-year low after Brexit vote July 11, 2016 Investor confidence has hit a four-year low after the EU referendum result, according to one index. The Hargreaves Lansdown Investor Confidence Index experienced its sharpest monthly fall in five years at the end of June. The index fell from 92 points in May to 67 on 30 June, its lowest value since May 2012, a [...]
Shoppers delayed big ticket purchases in June, while consumer spending hit a two-year quarterly low July 11, 2016 Britons put big ticket purchases on hold last month as consumer spending fell to its lowest quarterly level in two years. Spending across all categories grew by 0.9 per cent in June, up from a 27-month low of 0.8 per cent in May, contributing to a sluggish rise in consumer spending of 1.4 per cent [...]
This fintech startup has shaken off Brexit to raise millions more July 11, 2016 UK fintech startup Revolut has raised millions of pounds of new funding from top Silicon Valley investors and plans to raise further cash via crowdfunding, shaking off worries over a Brexit slowdown in tech investment. The year-old currency transfer app has raised up to £6.75m from Ribbit Capital along with existing seed investors Balderton Capital, Index Ventures, Point Nine Capital, [...]
Brexit “terrible” for London – but my asset management firm can only benefit July 11, 2016 Christophe Evain, the French chief executive of FTSE 250 alternative asset manager Intermediate Capital Group (ICG), does not hold back when asked for his view on Brexit. “I think that the result is a terrible one,” he says, speaking to City A.M. from his firm’s offices in St Paul’s Churchyard. “I think the impact on [...]
All the ingredients for growth: D&D London’s Des Gunewardena explains how the restaurant group is building a platform for long-term expansion July 11, 2016 Why has the City become such a vibrant restaurant destination? It’s two things, says Des Gunewardena, chairman and chief executive of D&D London, owner of such Square Mile stalwarts as Coq D’Argent, South Place Hotel, the Paternoster Chop House, and Madison. “A lot of people have started living in East London rather than West and [...]
