UK pensions: A third of workers left red-faced at the thought of discussing their finances, and half feel financial advice is too expensive November 30, 2015 Saving our blushes might be costing us dearly, as just less than one in three (29 per cent) working Brits admits to being too embarrassed to discuss their financial details. In a study shown exclusively to City A.M. by online pension adviser, or robo‐adviser, Wealth Wizards, just less than half (43 per cent) of workers [...]
Insurance losses now valued at AUS$75m following catastrophic wildfires in South Australia November 30, 2015 Bushfires in South Australia have generated insured losses of AUS$75m (£36m) as of today. According to figures from the Insurance Council of Australia (ICA), 525 claims have been made so far, and the value of the loss is expected to increase significantly as assessors continue to investigate claims over the coming days. The wildfires broke [...]
Judge approves Britain’s first ever deferred prosecution agreement in Serious Fraud Office bribery case involving Tanzanian division of ICBC Standard Bank November 30, 2015 Britain’s first deferred prosecution agreement (DPA) has been approved today in a bribery case involving ICBC Standard Bank and the Serious Fraud Office (SFO). A DPA is a type of plea deal where legal proceedings against a company are suspended in return for other conditions, such as agreeing to pay a fine. The London division [...]
Pension providers in survival of the fittest showdown as market merges, with a small number of players controlling most of the total assets under management by 2020 November 30, 2015 The market for auto-enrolment scheme providers will be dominated by a handful of major players by 2020. According to a report released today by the Pensions Institute at Cass Business School, fewer than 10 organisations will form a premier league of providers, controlling 90 per cent of total assets under management. “By 2020 several well-known [...]
Auditors as you’ve never seen them before: EY’s UK financial services leader Omar Ali explains how the big four firm is shaking up the accountancy world November 30, 2015 Shoreditch: it’s home of hip art galleries, a vibrant nightlife and, following its acquisition of digital design consultancy Seren this summer, some of EY’s most cutting-edge offerings. “We spent a lot of time working out what we wanted to do in digital,” explains Omar Ali, when he meets with City A.M. in the Hackney offices. [...]
Number of accountancy firms falls as merger activity in the sector heats back up after it tapered off in 2010 November 30, 2015 The number of accountancy practices in the UK fell last year as merger activity across the sector rose once again. According to figures released today by commercial finance company LDF, the number of accountancy firms in the country dropped from 6,962 to 6,622 in the year to December 2014, as more businesses combine their activities in [...]
The proportion of female high earners has stayed the same at just over a quarter for the last four years November 30, 2015 The proportion of female high earners has not increased over the last four years. Research released today by law firm Clyde & Co discovered that, using data obtained from HM Revenue and Customs (HMRC), the proportion of women who pay tax at a higher rate had remained unchanged at 27 per cent over the time [...]
Police in standoff with men on Buckingham Palace rooftop November 29, 2015 Police officers are in a standoff with two protestors who have climbed on top of the roof of Buckingham Palace. The two men, who are protesting about fathers’ rights, used a ladder to get on top of the Queen’s Gallery after bypassing security at around 3:15pm today. Police were called to the scene at around 4:30pm. pic.twitter.com/nBwE5DnJAu — Fathers Justice [...]
Jeremy Clarkson: Former Top Gear frontman helps Amazon Prime promote drone delivery November 29, 2015 Amazon has hinted at delivery by air drone and has called in none other than former Top Gear presenter Jeremy Clarkson to lend a hand. According to an accompanying FAQ page, which was put live today, Prime Air drones will be able to deliver packages of up to five pounds in 30 minutes or less, [...]
Turkey reaches deal with EU on migrant crisis, including €3bn in aid November 29, 2015 Turkish premier Ahmet Davutoglu has today reached a deal with European Union (EU) leaders on stemming the flow of migrants. According to Reuters, the agreement includes €3bn (£2.1bn) of aid to help support the 2.2m Syrian refugees in Turkey. The deal also includes the renewal of talks about Turkey's entry into the EU and the possibility of visa-free [...]
