Yu Energy, a gas and electricity company aimed at providing services to SMEs , IPO oversubscribed after it announced its intention to float on the London Stock Exchange last month March 14, 2016 Yu Energy appears to be in hot demand as the energy supplier has found itself oversubscribed for the IPO it announced less than a month ago. The company, which focuses on providing SMEs with gas and electricity, has today revealed its placing price of 185p per ordinary share after raising £10m. "We have been delighted [...]
UK pension changes: Savers could shun pension pots in favour of bricks and mortar if chancellor George Osborne cuts lifetime allowance in his Budget on 16 March March 14, 2016 Middle and high income earners could turn their backs on pensions in favour of investing in property should chancellor George Osborne make further changes to the lifetime allowance at the Budget later this week, research out today has found. The study by Zurich found that a quarter (25 per cent) of all Britons would funnel their savings [...]
Angela Merkel’s Christian Democratic Union suffers setback in state elections, as anti-immigration party Alternative for Germany gains a number of seats March 13, 2016 German Chancellor Angela Merkel and her Christian Democratic Union (CDU) party were left disappointed this evening, after the anti-immigration Alternative for Germany (AfD) party gained a surge of new voters in the state elections. Based on exit polls, AfD managed to obtain seats in all three of the state assemblies – Saxony-Anhalt, Rhineland-Palatinate and Baden-Wurttemberg – holding an election [...]
Bitcoin gets a central bank rival as academics develop cryptocurrency RSCoin, but might pounds and pence need to watch their back as well? March 13, 2016 Currency as we know it might be about to be shaken up, as academics from University College London have published a paper on a cryptocurrency which could be used by central banks. Unlike bitcoin and its contemporaries to date, the framework for RSCoin can be centralised and maintain by a State's central bank. The paper by George Danezis and Sarah Meiklejohn [...]
UK pensions and Budget 2016: Higher earners benefit from chancellor George Osborne’s decision to delay any pensions reform but the majority miss out March 13, 2016 Higher earners have likely benefited from chancellor George Osborne's decision last week to push back any pension tax changes, but the majority of earners are now missing out, a report released today argues. According to the research by the Resolution Foundation, if Osborne had unveiled a flat rate of relief of 30 per cent at next [...]
EU referendum: With the referendum on UK membership of the EU set for 23 June 2016, and the potential for a so-called Brexit looms, this is how UK pensions law could be affected March 13, 2016 Crystal-ball gazing regarding a potential Brexit is notoriously tricky business and must be caveated with an appropriately large health warning. How a Brexit might look in reality is currently unclear, as the terms of such a departure are up for negotiation. If the UK opted to remain part of the single market, it is likely [...]
What designers can learn from the Trunki court battle after Magmatic lost its intellectual property appeal at the Supreme Court March 13, 2016 A few days ago we saw the final chapter in the long-running and high-profile dispute between the owner of the registered design of the “Trunki”, a ride-on suitcase for children, and the company selling a similar product called the “Kiddee Case” which had been inspired by the Trunki. In 2013, the UK High Court held [...]
Bond Apocalypse Now: Is the end nigh for bond investment as M&G reveals high levels of outflows in its most recent results? March 13, 2016 The UK bond market is sitting on a bed of nitroglycerine, according to Bill Gross, one of the world’s most pre-eminent bond investors. Or at least, that was his prognosis in January 2010, since which time UK government bonds have returned over six per cent a year and yields on the benchmark 10 year gilt have [...]
Libor scandal: Tom Hayes to appear in Old Bailey on Monday as Proceeds of Crime confiscation hearing begins March 13, 2016 Tom Hayes is due to head to court on Monday as he begins a legal battle over his assets, which prosecutors allege were purchased using proceeds from crime. Hayes and his wife are due to attend a Proceeds of Crime confiscation hearing at the Old Bailey, London's central criminal court. Hayes, a former Citigroup and [...]
Libor scandal: Two former Rabobank traders sentenced for offences related to manipulating Libor in the US March 11, 2016 Two former traders late last night were handed prison sentences in the US for offences related to Libor fixing. Anthony Allen, Rabobank's former global head of liquidity and finance, and Anthony Conti, a former senior trader on Rabobank's money markets desk, are the first people in the US to face trial and be charged for [...]
