Budget 2016: Former pensions minister Steve Webb and Royal London warn chancellor George Osborne that pensions changes would amount to “daylight robbery” February 23, 2016 Britain's largest mutual insurer has warned chancellor George Osborne could commit “daylight robbery” in next month’s Budget with major new changes to pensions. In a new report today, Royal London said a pensions ISA or a flat rate of pensions tax relief would hurt existing savers and discourage future saving. A pensions ISA, which was first [...]
Pact Coffee launches £1m crowdfunding campaign for ambitious expansion plans letting public join top investors such as Robin Klein February 22, 2016 Pact Coffee is launching an ambitious crowdfunding campaign to raise £1m from coffee-lovers to add some buzz to the businesses expansion plans. The London-based startup which sprang to life in 2012 and delivers fresh coffee straight to people's doors via subscriptions is turning to Crowdcube to raise new equity. Backers of the early-sage startup which has [...]
UK house prices: Let down the ladder – how property crowdfunding could help fix the housing crisis February 22, 2016 There were positive headlines last week which suggested that the government may finally be making modest progress in its battle against the housing crisis. For the first time in a decade, home ownership rates remained stagnant, rather than falling. Yet younger generations still have huge issues with the housing market. Ownership rates continue to fall [...]
LFW: Fintech firm Payfriendz brings big money to LFW with a dress made from £5,000 cash February 22, 2016 The world's designers have been showcasing the most outrageous and indulgent fashion trends on Brewer Street at London Fashion Week, but one fintech firm has gone one step further and created a dress made from £5,000 cash for the event. Styled on the classic shift dress, the financial frock is made of 600 £2 coins, with concertina sleeves made [...]
Deliveroo co-founder Will Shu talks buffalo wings, concerned ex-colleagues and hedging bankers February 22, 2016 By the time Will Shu, co-founder of Deliveroo, launched his company, he knew acutely what problem he was trying to solve. The former investment banker grew up in Connecticut, went to college in Chicago and then went straight to work for Morgan Stanley in New York. “This was 2001, and things were very different then. The [...]
Navigating the new world of business finance February 22, 2016 Good businesses today will have no issue finding funding to finance their growth. Instead, the problem is that, given the diversity of options available to companies, the landscape can be quite confusing. Pre-credit crisis, the banking market was a cosy, relationship-led high street bank market with four or five local players, and businesses knew where [...]
Budget 2016: As chancellor George Osborne gears up for expected pensions raid, his Budget will serve up a reality check on the deficit February 22, 2016 As Westminster whips itself into a referendum frenzy following a week of thrilling political drama, it is worth remembering that more prosaic and domestic concerns lie ahead. In three weeks’ time, for example, chancellor George Osborne will steal the limelight away from Boris Johnson, David Cameron et al. when he delivers his 2016 Budget. Incredibly, [...]
Bumper dividend payments were a boon to investors trying to cope with intense volatility last year, according to Henderson Global Investors February 22, 2016 Bumper dividend payments provided welcome relief for investors throughout the world last year, during a period of intense volatility. With uncertainty prevalent in global markets during 2015, dividend income almost entirely compensated investors for the $1.3 trillion decline in the values of shares, a report by Henderson said this morning. Global dividends reached $1.15 trillion in [...]
Budget 2016: Former pensions minister Steve Webb warns Osborne will drop a “tax bombshell” with pensions overhaul February 21, 2016 Former pensions minister Steve Webb has warned that chancellor George Osborne is getting ready to drop a £4bn “extra tax bombshell” in next month’s Budget by getting rid of the so-called tax-free lump sum. Webb, who was pensions minister in the coalition and is now director of policy at Royal London, said today that existing [...]
Fintech unicorn Powa Technologies calls in administrators as Deloitte formally appointed February 19, 2016 Powa Technologies, one of the UK's only $1bn-plus technology "unicorns", has appointed Deloitte to oversee its potential administration. Hundreds of jobs would be threatened as the company sinks into administration, which could take place as early as this afternoon, City A.M. understands. While Deloitte has been formally appointed, it does remain possible Powa could make a last-ditch rescue attempt. Powa, based [...]
