Total paid out for mis-sold PPI more than £35bn as deadline for claims approaches June 17, 2019 The Financial Conduct Authority (FCA) has today warned consumers the deadline for complaints about mis-sold payment protection insurance (PPI) is in two months. According to figures released today, the FCA has had more than 3.9m users access the PPI website and 44,000 calls to their contact centre. The FCA has enlisted the help of celebrities [...]
Hargreaves Lansdown raised concerns about suspended Woodford fund as early as 2017 June 16, 2019 Hargreaves Lansdown raised concerns about the performance of the Woodford Equity Income Fund more than two years ago, but continued to recommend it to its customers. The investment adviser was also selling millions of pounds in stock in the fund, according to analysis by the Sunday Times. The Woodford Equity Income fund was frozen earlier [...]
Labour mulls new tax on parental gifts that could raise £15bn June 16, 2019 A report commissioned by the Labour Party has recommended replacing inheritance tax with a lifetime tax on all gifts from parents to their children above £125,000. The new tax could raise £15bn in 2020-21, £9.2bn more than the current inheritance tax system. Under the proposals, tax would be levied on gifts received above a lifetime [...]
Bad debt insurance claims at highest since 2009 June 14, 2019 The number of insurance claims made this year by UK businesses facing bad debts has reached its highest level in ten years, figures published today show. In the first quarter 57 firms every day were helped by trade credit insurers, data from the Association of British Insurers (ABI) show. The high volume of claims is [...]
Boris Johnson says ‘long way to go’ in Tory leadership race after first round victory June 13, 2019 Boris Johnson has a commanding lead in the Tory leadership election after the first round of voting with backing from 114 Mps. Johnson’s 114 votes puts him past the 105 votes needed to reach the final round. He tweeted: “Thank you to my friends and colleagues in the Conservative & Unionist Party for your support. [...]
Boris Johnson the overwhelming favourite as Conservative MPs vote in leadership election June 13, 2019 Conservative MPs are casting their votes this morning in the first round of voting to replace Theresa May as party leader. Former foreign secretary Boris Johnson is the overwhelming favourite in the field of 10 candidates. Tory MPs cast their votes in a room in parliament this morning between 9am and 11am. Candidate with 16 [...]
Morrisons to expand Amazon online delivery service across UK June 13, 2019 Supermarket Morrisons said today it will expand its online delivery partnership with Amazon to more cities across the UK. The Morrisons at Amazon service allows Amazon Prime customers to receive online same day grocery deliveries in Leeds, Manchester, Birmingham and parts of London and the home counties. Customers can order groceries online which are picked [...]
Creditors’ lawyer tells court: Hudspiths fund was a ‘ponzi scheme’ June 13, 2019 The directors of a forex firm that owes more than £40m to creditors have been accused of running a “fraudulent ponzi scheme”, a court heard yesterday. Hudspiths offered investors a five per cent a month return, in addition to a further two per cent to be paid per month to introductory brokers. Hudspiths fell behind [...]
Pendragon share price crashes by a fifth on ‘accelerating’ losses June 12, 2019 Shares in used car dealer Pendragon crashed by more than a fifth this morning after it said it expected losses to accelerate. The board said it expects underlying profit before tax for 2019 to be a small loss with the first-half of 2019 expected to be “significantly loss making” ahead of a return to profitability [...]
End of the Saga: Chief executive Batchelor hangs up his lance June 12, 2019 The chief executive of over 50s travel and insurance group Saga will retire next year, the company said today. Lance Batchelor will retire at the end of the financial year in January 2020 after six years with the business. The recruitment of his successor is underway. In April Saga shares sank 40 per cent after [...]