Hargreaves Lansdown CEO and executives waive bonuses in wake of Woodford scandal August 7, 2019 Four executives including the chief executive of Hargreaves Lansdown will surrender their bonuses this year following pressure over the company’s support for Neil Woodford’s flagship fund. Hargreaves Lansdown continued to recommended Woodford’s equity income fund right up until it was suspended on 3 June after becoming overwhelmed by investor withdrawals. The gating of the fund [...]
Woodford lifts block on investors switching from Hargreaves Lansdown July 10, 2019 Investors who found themselves locked into both Neil Woodford’s suspended fund and Hargreaves Lansdown will now be able to switch to a different stockbroker. Thousands of customers were left stranded after Link Fund Solutions, the authorised fund manager, blocked transfers from Hargreaves Lansdown to other platforms. Read more: Woodford investors blocked from switching from Hargreaves [...]
Woodford investors blocked from switching from Hargreaves Lansdown July 9, 2019 Customers that invested in Neil Woodford’s suspended flagship fund through Hargreaves Lansdown have been blocked from switching investment platforms, according to evidence submitted to the Treasury Committee’s inquiry into the scandal. Richard Wilson, chief executive of rival fund supermarket Interactive Investor, said investors had “both hands tied” after Link Fund Solutions, the authorised fund manager, [...]
Hargreaves Lansdown chief executive ‘angered’ by suspended Woodford fund June 20, 2019 Hargreaves Lansdown chief executive Chris Hill said he is “angered” by the lack of resolution regarding Neil Woodford’s suspended flagship fund. The fund supermarket’s investors currently have £1.6bn exposed to the suspended Woodford equity income fund. Read more: Woodford failed to warn Hargreaves Lansdown of unquoted stocks breach Since the fund was last tradable on [...]
Woodford failed to warn Hargreaves Lansdown of unquoted stocks breach June 19, 2019 Neil Woodford failed to warn Hargreaves Lansdown that his now suspended fund twice breached an investment limit in unquoted stocks. The fund supermarket had insisted Woodford Investment Management informed it if the equity income fund breached a 10 per cent limit. This followed concerns that the proportion of unquoted assets in the fund had increased. [...]
M&S looks set to survive FTSE 100 drop amid £600m rights issue May 29, 2019 Marks & Spencer looks set to remain in the FTSE 100 through the skin of its teeth in next week’s reshuffle after launching a £600m rights issue to fund its joint venture with Ocado. City speculation that the department store chain could drop out of the blue-chip index has mounted after it reported a 10 [...]
Coping with our confusing and expensive childcare system May 29, 2019 Childcare is notoriously expensive in the UK. For UK parents with two children, around 46 per cent of household income goes towards childcare – the highest of all OECD countries – while prices have risen three per cent in the past year, according to the UK’s Childcare Survey 2019. “With the cost of full-time childcare [...]
British Land swings to a loss as retail troubles hit property values May 15, 2019 British Land became the latest in a string of property giants to reveal a fall in the value of its assets today, swinging to a loss amid turmoil in the retail sector. The FTSE 100 group, which owns developments such as Broadgate campus in the City of London, reported a £300m loss in the 12 months [...]
Vodafone dividend cut: What does it mean for investors? May 14, 2019 It’s been a rough morning for Vodafone, which has slashed its dividend by 40 per cent in a bid to ease rising debts and a hefty loss for the full-year. Investors were braced for bad news after reports of a dividend cut were widely circulated ahead of the company’s announcement today. But despite the initial [...]
Five things we learned from BT’s full-year results May 9, 2019 BT today published its eagerly-awaited results for the full-year, as investors kept a keen eye on the telecoms giant’s plan to turn around its ailing fortunes. After growing speculation over the company’s targets for full-fibre broadband and a potential dividend cut for beleaguered shareholders, here are five major takeaways from the results. Read more: BT boosts profits [...]