Money Advice Service review December 2, 2013 THE TREASURY Select Committee has called on the government to commission an independent review by the end of next year into whether the Money Advice Service (MAS) should exist as a statutory body. The committee questioned whether the MAS is fit for purpose. But MAS chief executive Caroline Rookes said: “Over 300,000 people are using the [...]
Lift in planning permits helping buyers to get on housing ladder December 2, 2013 NEW PLANNING permission approvals soared by almost a third in the last year, according to figures out yesterday from the Home Builders’ Federation (HBF). The positive figures could be a relief for those struggling to get on the housing ladder, indicating that supply may at last be beginning to catch up with demand for property. However, building [...]
Stamp duty cliff edge knocks £10,000 off thousands of homes December 2, 2013 THOUSANDS of home owners have had to slash the price of their house to below £250,000 to get a sale because of the impact of stamp duty, according to a report out today from London Central Portfolio and the Cass Business School. Stamp duty jumps from one per cent to three per cent at the [...]
Thames Water plans to raise its bills by 11pc December 2, 2013 THAMES Water yesterday proposed an 11 per cent increase to water bills, despite regulator Ofwat rejecting its request for an eight per cent rise just last month. All UK water firms had to submit a business plan for the 2015 to 2020 regulatory cycle to Ofwat yesterday, outlining proposed price increases and capital expenditure. The [...]
Surge in regulated hedge fund sales as investors seek safety December 2, 2013 HEDGE fund managers offering less risky funds to investors have been rewarded with a surge in the new business, a poll shows. The study, from Deutsche Bank, reveals nearly half of hedge fund managers sell so-called non-traditional hedge funds, which are regulated, have lower fees and offer more liquidity for investors. Of these, almost half [...]
We’re keeping up with the drones… December 2, 2013 SO, Jeff Bezos, Amazon’s founder and chief executive, is getting into the drone game. Once the reserve of the military and largely a source of fear, drones, or unmanned aerial vehicles (to give them their proper title) are making their way into the mainstream. Amazon aside, The Capitalist has noticed drones are already being used [...]
Hibu chairman looks to start new chapter December 2, 2013 SENTIMENTAL fans of the old fashioned phone book weren’t the only ones mourning the demise of Hibu, née Yellow Pages – chairman Bob Wigley, who fought pretty hard to save the ailing company, must have also been saddened to see it go into administration (although maybe not as much as angry shareholders who lost their [...]
Mossy Christmas for Shepherd Market December 2, 2013 ANY HEDGIES strolling out of their Mayfair offices last night may have been greeted by the festive site of racing legend Sir Stirling Moss switching on the Christmas lights at Shepherd Market. Fellow motoring enthusiast Jeremy Clarkson was also in attendance to enjoy the launch.
City Mo Bro December 2, 2013 The Capitalist would like to congratulate the winner of our Movember competition – Steven Farley of Majedie Asset Management. We love his two-tone mo, although apparently, it was supposed to be red, white and blue. Steven has won a hair cut and products courtesy of Kings Road salon Lockonego. Head over to cityam.com/live-blog to see [...]
Pharma firms investing more in new products but returns wane December 2, 2013 DRUG companies spend an average of $1.3bn to bring a new product from discovery to the market, up from $1.1bn on a year ago, research out today suggests. As a string of blockbuster drugs reach the end of their life under the commercial protection of patents, pharma firms have been investing more in researching, developing [...]
