This ex-Googler’s “anti-Wonga” loans startup is moving into savings June 14, 2016 A fintech startup founded by a former Google boss which lets people pay off their debts via a single monthly payment direct from their salary is now planning to expand on its loans business with a move into savings. SalaryFinance was founded late last year by Dan Cobley, the former boss of Google in the UK, former banking consultant Ashesh Sarkar, and [...]
It’s time to bring retirement into the twenty-first century June 14, 2016 Few words can stop a conversation as quickly as “retirement”. Many of us can hardly bear to think about it, never mind talk about it. Others – just under half, according to our latest Investor Pulse survey – do save for old age, but with no confidence we’ll get the income we want at the [...]
Scottish Widows reveals £630m bulk annuity buy-in deal with the ICI Pension Fund June 14, 2016 Scottish Widows announced today that it has secured a £630m buy-in with the ICI Pension Fund. The buy-in, which is essentially an insurance policy deal for pension benefits and will cover over 4,000 of the fund’s pensioner members, is Scottish Widows' largest external bulk annuity transaction to date. "We are delighted to have been chosen by the trustee of the [...]
Total deficit on pension schemes eligible to board the pensions lifeboat grew by more than £20bn in a month June 14, 2016 It could be a tight squeeze to board the pensions lifeboat, as figures released today revealed that the total deficit value of the schemes eligible to join increased by more than £20bn in a month. The latest PPF 7800 Index figures, which keep track of the funding position of the defined benefit (DB) pension schemes eligible for [...]
Before the bell: What you need to know before the US market open June 14, 2016 Brexit fears are dragging down markets and Germany's 10-year bond yield has turned negative. Here's what you need to know before the market open at 14:30 London time. US futures are pointing down again today, suggesting the bad start to the week is going to continue. The S&P is off by 0.22 per cent. The Nasdaq is 0.26 [...]
Fintech boom means Brexit won’t hurt exports June 14, 2016 Exporting can be a powerful driver of business growth, and small and medium-sized enterprises that sell overseas often find themselves more successful in their domestic market as a result of what they learn from exporting. So, I was disheartened to see at a recent seminar hosted by the Association of Chartered Certified Accountants, that only around 20 per [...]
Are you out of your mind(set)? How to build a business culture for growth June 14, 2016 We often talk about mindsets in the context of our personal lives. But have you ever considered that organisations also exhibit particular mindsets? Indeed, they could be having an impact on your attitude in the workplace and the way you perceive your colleagues. Chances are that some of the most important lessons you’ve learned in [...]
Billions boost to UK bottom line if more was done to help people keep working for longer June 14, 2016 The UK could increase its GDP by billions if it could keep as many people in their 50s in work as some other major economies have managed to, a report out today has found. The research by PwC discovered the UK GDP would be raised by roughly 5.8 per cent – or around £105bn – [...]
Watch out PayPal: Now you can use Apple Pay online June 13, 2016 Apple has made a major move with its mobile pay service, adding support for it online. This means users can simply use a "Pay by Apple" button when browsing on the iPhone or Mac, in addition to using the iPhone to pay at tills. An Apple Pay button will appear when you pay online, via [...]
At current pace we won’t hit 30 per cent female representation at executive committee level in financial services until 2048 June 13, 2016 The battle for equality in the financial services boardroom is struggling to make progress globally. Only one-fifth (20 per cent) of company boards and 16 per cent of executive committees in financial services are comprised of women, according to a report from management consultancy, Oliver Wyman. This is only a slight improvement in both categories since the report [...]
