Watchdog fears crowdfunding is too high risk February 3, 2015 SMALL investors may have been misled by the presentation of equity and debt crowdfunding as a safe way to save their money, the Financial Conduct Authority has said. Crowdfunding platforms are often used by small and growing businesses to raise funds either at cheaper rates than they could get from banks, or when other finance is [...]
Construction recovery boosts growth outlook February 3, 2015 THE UK’s construction industry rebounded in January following a recent lull in activity, new survey data shows. It may provide a significant boost to GDP in 2015 after a poor construction output reading slowed growth in the final three months of 2014. The purchasing managers’ index (PMI) – a survey of private sector firms compiled [...]
Bank of England fears a public backlash on mortgage controls February 3, 2015 The Bank of England must educate the public on its new powers over mortgage lending or risk harm to its reputation, top official Donald Kohn told MPs yesterday. Officials can limit loan to income ratios and debt to income ratios if they fear the housing market is becoming a risk to financial stability. But that [...]
TalkTalk trips as costs fall slower than anticipated February 3, 2015 TALKTALK was bruised in morning trading yesterday after it revealed an unsuccessful IT project and additional costs from its takeover of BlinkBox would hit its full-year profit forecast. “Two broad things have led us to guide that we will be towards the bottom end of current market expectations,” TalkTalk chief executive Dido Harding told City [...]
Citi hires Swedish ex-finance minister for its Nordic business February 3, 2015 ANDERS Borg has joined Citibank as a senior adviser, focusing on the Nordics and the public sector. The economist and former finance minister played a leading role in Sweden’s government from 2006 to 2014. Borg’s appointment represents a boost to Citi’s ambitions in the region. It prides itself as a bank which can link its [...]
Profits boom as Santander UK wins seven-day switching war February 3, 2015 Santander UK has converted its flood of new current account customers into a strong rise in profits, yesterday reporting an improvement across all its business lines. Profits rose 26 per cent to £1.4bn for 2014, as the number of current account customers rose from 2.1m to 3.3m – Santander gained one quarter of all customers who [...]
UBS in pole for big 2015 deals February 3, 2015 SWISS bank UBS is leading the league tables for 2015 so far, beating other investment banks to win big deals. UBS is in the number one spot for the year to date. According to Dealogic, UBS has completed four equity capital markets deals worth a total of $5bn in EMEA, and five mergers and acquisitions, [...]
Cost of living to drop as UK gets good deflation February 3, 2015 Prices in the UK are set to fall, top economists said yesterday, giving British workers a break after years of low wage rises. Falling oil and food prices are expected to give a welcome boost to shoppers. Official data should show prices falling 0.3 per cent in the 12 months to March and 0.1 [...]
Trust in energy companies rising as consumers see their bills fall February 3, 2015 Concern about energy costs is falling and trust in suppliers is up, according to a new report by the Department of Energy and Climate Change (DECC). Thirty-one per cent said they were concerned about their energy bills, down from 47 per cent in December 2013, and there is less concern about prices overall. “The next [...]
Balls calls for infrastructure commission February 3, 2015 SHADOW chancellor Ed Balls yesterday called for an independent National Infrastructure Commission, and pledged to having it in the first Queen’s speech if Labour win in May. The chair of the new commission would be appointed on a cross-party basis, and they would have 10 National Infrastructure Goals to be met in 10 years. Labour [...]
