Bump in the road: What does platform failure mean for investors? November 12, 2015 The peer-to-peer industry suffered a platform failure last month, in the full glare of media attention. Back in 2011, P2P platform Quakle failed. This time around, it was Sweden-based TrustBuddy, which was shut down by the Swedish regulator, with lenders’ money frozen. The reasons for the failure of these platforms have been widely reported. [...]
Millennials are underestimating their life expectancy by roughly a decade and it’s creating problems for their pension calculations November 11, 2015 Far from thinking they’re immortal, millennials are underestimating their life expectancy by roughly a decade, which is also leading them to underestimate their required pension pot size for a comfortable retirement. According to the latest BlackRock Investor Pulse survey, which was released today, those aged between 25 and 34 predict that they will only live [...]
Investing in data science will secure London’s future as a global leader in research November 11, 2015 The UK is a science powerhouse that punches well above its weight. London alone is home to four of the world’s top 30 universities. And this Government is committed to ensuring the UK is the best place in Europe to innovate, patent new ideas and start a business. To fulfil this ambition, we need to [...]
Those in default pension funds could be missing out on returns equating to around £500,000 for a lifetime November 11, 2015 Be warned if you’ve opted to stay in your default pension fund – research out today by JLT Employee Benefits has found that you could be missing out on returns by six per cent. Over the last three years, the performance of the top ten defined contribution (DC) pension default funds has been between roughly 3.5 per [...]
Work and Pensions Committee pressure chancellor George Osborne to delay tax credit cuts for a year November 11, 2015 A group of influential Members of Parliament, including six Conservatives, have called on chancellor George Osborne to delay cutting tax credits. The Work and Pensions Select Committee today published a unanimous cross-party report calling on the government to "pause for a year and plan for a major overhaul of the tax credit system". Read more: Osborne's "rhetoric [...]
Fintech revolution: Visa and Bank of America file the most fintech patents November 11, 2015 There’s a fintech revolution going on – but who’s at the forefront of it? New patent figures reveal that Visa has filed by far the most fintech patents, soaring 20 per cent ahead of its nearest rival, Bank of America. Data from Aistemos and Relecura shows which companies hold the most patents, providing an overview of [...]
Saving for retirement: Are you one of the UK’s super savers? November 11, 2015 More Brits are saving for retirement now compared to two years ago, boosted by the government’s policy of auto-enrolment. That’s according to our Investor Pulse survey, which also shows that the number of 25-74 year olds putting money away specifically for retirement has risen by an impressive 28 per cent since we began the survey [...]
Minicab comparison app Kabbee looks to challenge Uber with £1m Crowdcube fundraiser November 11, 2015 Minicab booking app – and Uber challenger – Kabbee today launches a £1m fundraising campaign on Crowdcube. The taxi price-comparison company is looking to extend beyond London and will use the funds for the UK-wide roll-out, and to update its dispatch and GPS technology, saying "intense competition" within the sector meant it needed to "future-proof" its business model. It is offering a [...]
Chiltern Firehouse head chef Nuno Mendes launches £1.75m Seedrs crowdfunding to re-open restaurant Viajante in Wapping November 10, 2015 The Michelin-starred head chef at Chiltern Firehouse is hoping to raise £1.75m on crowdfunding site Seedrs to re-open his restaurant Viajante, in a Victorian warehouse in Wapping. Nuno Mendes is offering 33.3 per cent of the equity in the new venture, along with rewards for big investors, ranging from priority booking, to private meals. The minimum investment is £10. The [...]
Almost half of UK millennials can only blindly guess at the amount they need in their pension pot November 10, 2015 Retirement needs seem to be something of a mystery for today’s youngsters. According to a study released today by bank BNY Mellon and students from Cambridge Judge Business School, 42 per cent of UK millennials calculate the size of the retirement fund based on a blind guess. A further 51 per cent admit to employing [...]
