Nutmeg ready to shake-up UK pension market February 22, 2015 Online wealth management group Nutmeg is today launching its first personal pension in an attempt to disrupt the UK pensions sector. Nutmeg co-founder and chief executive Nick Hungerford says current offerings on the market are “complicated, underfunded and in need of some massive changes.” “We know there’s a massive deficit in pensions savings; company pensions [...]
Europe latches on to peer-to-peer lending and crowdfunding February 22, 2015 EUROPE is embracing the concept of alternative finance as the ongoing fallout of the credit crunch sparks a flourish of industry start-ups, a report published by Cambridge University and Ernst & Young says today. The UK dominates the industry and increased its share the market in alternative finance to 79 per cent. The online alternative [...]
Pensions group calls for a new industry body February 22, 2015 The UK government is facing calls to introduce a new independent Pension Commission to deal with problems in the sector and produce better policy. The International Longevity Centre-UK and Prudential have published a report today highlighting the fact that current policy is not enough to secure adequate retirement incomes for many, and retirement planning is [...]
Thomas Cook looking at sale of airline in cost-saving plan February 22, 2015 Holiday company Thomas Cook is looking to sell its airline business in a bid to cut costs, with rival carriers or private equity investors potential candidates to buy the operation. The travel firm has been sounding out interested parties over the past few months, according to reports, but has yet to reach a deal. Earlier [...]
Morrisons’ hunt for a new chief moves closer to check-out with ex-Tesco boss David Potts in pole position February 22, 2015 Morrisons is close to announcing the appointment of a new chief executive, with former Tesco executive David Potts said to be in pole position for the job. The Bradford-based supermarket group is expected to make an announcement within weeks after last month ousting Dalton Philips, who failed to revive its fortunes. Potts was Tesco’s longest [...]
London developer Galliard hires finance guru, sparking float talk February 22, 2015 GALLIARD Homes, London’s largest privately owned residential developer, has bolstered its board by hiring industry veteran Paul Huberman as a non-executive director, prompting speculation that a float may be on the cards. Huberman has over 27 years of property and finance experience and was previously finance director at Grantchester Holdings and Asda Property Holdings. He [...]
Boris Johnson’s vision of a jetpack future is already here as Martin Aircraft Company takes off February 22, 2015 Looking to the future of London, Boris Johnson could only dream of a Jetsons-style space-age capital. “It may be that by 2020 we will all have learnt to commute with jetpacks, but until then, we need to invest in our existing transport modes,” he said a few years ago. Now, however, it seems the mayor’s [...]
FTSE set to party like it’s 1999 if it can beat psychological barrier February 22, 2015 PRINCE proved to be a canny financial commentator when he sang “two thousand zero zero party over” on his hit song 1999. Markets tumbled shortly after the 31 December 1999 FTSE 100 high of 6,930.2 and the figure has not been topped since. The FTSE closed at 6,915.2 on Friday, though, leaving many more in [...]
Petropavlovsk and Petroceltic face shake-up February 22, 2015 The UK commodities market is facing a shake-up this week, with London-listed oil firm Petroceltic and mining company Petropavlovsk both scheduled to hold major shareholder votes. Irish firm Petroceltic is to hold an extraordinary general meeting on Wednesday, at the behest of major shareholder Worldview Capital, which is seeking to oust the company’s chief executive [...]
Swansea Bay Tidal Lagoon project attacked by Citizens Advice charity over pricing February 22, 2015 Consumer charity Citizens Advice has slammed the proposed Swansea Bay Tidal Lagoon as being “appalling value for money” and said the process of negotiations around the project’s contracts was “inherently opaque”. The group made the statements in its response to the Department for Energy and Climate Change (Decc) consultation on construction of the lagoon, which [...]
