MPs’ report slams government’s key welfare reform programme February 24, 2015 THE POWERFUL Public Accounts Committee (PAC) is today releasing a highly critical assesment of the government’s key welfare reform. At the release of the report into universal credit, PAC chairman Margaret Hodge will say: “The Department for Work and Pensions has spent £700m on Universal Credit since the programme began in 2010. However, very little progress has [...]
Aldermore pulls trigger on float for second time February 24, 2015 CHALLENGER bank Aldermore yesterday revived plans to list shares on the London stock market – four months after it originally shelved proposals due to market turbulence. The outfit abandoned a flotation last October in the wake of a seven per cent slump in London’s stock markets amid fears of a global slowdown, but has now [...]
Ashmore assets continue to fall amid retreat February 24, 2015 SPECIALIST emerging markets manager Ashmore has once again been hit by a strong dollar and a leak in investment. In the six months ending 31 December 2014, assets under management fell 15 per cent to $63.7bn (£41.7bn) as investors pulled $4.5bn from the company. Average assets under management were $71.2bn – eight per cent lower [...]
Development Securities chief exec Michael Marx steps down February 24, 2015 Development Securities chief executive Michael Marx will be stepping down after 21 years, the company said yesterday, consoling shareholders with a £10m special dividend. The FTSE 250 property developer said that Marx, 65, will retire from the board at the annual general meeting in July. However, he will remain on the board as a non-executive [...]
Persimmon brings forward its dividend after bumper profits February 24, 2015 PERSIMMON has brought forward its dividend after a surge in demand for new homes last year helped to boost profits by 44 per cent. The housebuilder said it would now pay out 95p a share to investors in April rather than July. It will be the third payment made as part of a long-term plan [...]
Lender lobby’s animated pitch February 24, 2015 THE COUNCIL of Mortage Lenders (CML) yesterday set out its election manifesto, as a short video. The animated clip lays out many of the policies the CML wants parties to consider for the election, to help “the old, the young, and the in-betweeners” including promotion of shared equity opportunities. Paul Smee, director general of the CML, said: [...]
Property sales fall in January February 24, 2015 UK HOME sales fell in January for the fourth month in a row, to reach their lowest level since October 2013, according to new data. The latest seasonally adjusted figures out yesterday by HM Revenue and Customs (HMRC) shows there were 97,320 transactions last month, down six per cent compared with a year ago. Transactions [...]
Six Nations shows rugby is rucking good for Guinness – Brand Index February 24, 2015 The Six Nations rugby championship reaches its half-way point this weekend, it might be worth Guinness considering the commercial opportunity the tournament offers it. A partner of the championship, Guinness already has a strong association with the Six Nations, and YouGov BrandIndex and Profiles data help to confirm why the relationship is a beneficial one. [...]
The Yorkshire attacks account switch stitch up February 24, 2015 THE YORKSHIRE Building Society wants to become a challenger in the current account market, but its boss yesterday said it cannot because the switching service is not working. Seven-day switching helped the numbers moving between banks rise to 1.16m last year, but chief executive Chris Pilling told City A.M. that this is not the “game-changing shift” the [...]
Business group says services sector optimism is on the up February 24, 2015 OPTIMISM in the services sector continued to rise in the three months to February, marking two years of consecutive rises according to a report by the Confederation of British Industry (CBI). The report said 26 per cent of firms were more optimistic than three months ago against five per cent who were less optimistic, leaving [...]
