Solvency II to hit wider economy March 4, 2012 Insurance industry regulations Solvency II will damage the pensions industry and wider economy, KPMG warned today. Increased capital requirements could make the return on annuities fall to an unacceptable level, making the business uneconomical for insurers. The economy may suffer as insurers move investments away from areas like infrastructure, KPMG said.
Firms say UK economy may be improving March 4, 2012 BRITISH firms are increasingly confident about the economy’s prospects making a return to recession less likely, according to Lloyds Bank’s business barometer, published today. However, economic growth is still likely to be slow, forecasts out today from the British Chambers of Commerce (BCC) show, and research from RBS suggests firms are still unwilling to invest [...]
Family lending up in finance squeeze March 4, 2012 ALMOST one-third of Britons are not currently saving and increasing numbers of young people are relying on loans from their parents, according to a finance survey published today. Family lending has jumped by over one-third in the last five years, according to Scottish Widows’ annual savings and investments report, and the average amount loaned to [...]
Optimism in the air for property show March 4, 2012 AROUND 19,000 delegates are expected to attend MIPIM, the world’s largest property conference, which begins in Cannes today – a rise of 1,000 compared to the year before. More than 90 countries are attending the four-day extravaganza to discuss investment opportunities and showcase property from the City of London to Manchester and Birmingham. Event organiser [...]
Mining deals surge with China gaining traction in market March 4, 2012 CHINA is snapping up fast-growing miners in new markets while Western firms “play it safe”, according to figures from PwC out today. Mining titans in the US, Canada and Australia still make up the lion’s share of the takeover market, representing 53 per cent of buy-side activity by value in 2011. But firms in developed [...]
Audit watchdog to cut fees after making savings March 4, 2012 THE spending watchdog for England’s local authorities has said today it will cut audit fees by 40 per cent. The Audit Commission, which will be abolished this year, said outsourcing and internal cost-savings meant audit fees for most local public bodies will fall by £250m over five years. The savings will come in part from [...]
PIPPA COMPLETES CHARITY SKI MARATHON March 4, 2012 PIPPA Middleton, the sister of the Duchess of Cambridge, yesterday completed the annual Vasaloppet cross country ski race in Sweden – clocking up a time of seven hours, 13 minutes and 36 seconds on the 56-mile course. Middleton and her brother James were raising money for Magic Breakfast, a charity that delivers free breakfasts to [...]
BACK IN THE SADDLE FOR PROPERTY’S EPIC CYCLE March 4, 2012 AS MEMBERS of the property world flock into Cannes today for a week of networking at the industry’s MIPIM conference, 86 of their peers are taking a slower route through the French countryside by taking part in the six-day Aedas Cycle to Cannes charity ride. Executives from firms including Land Securities, Capital and Counties, and [...]
WHERE IS BARNABUS? WIN tickets to the Gaucho International Polo March 4, 2012 The Gaucho International Polo (www.gauchopolo.com) will take place on 21 March and will be a unique event which will bring an Argentine festival to London, uniting high-octane polo interspersed with the music of one of Latin America’s most acclaimed bands, Bajafondo, a tasting of the country’s finest wines and a glamorous afterparty. Every day this [...]
Boris: Britain must resist EU red tape March 4, 2012 BORIS Johnson has called on the government to boost transport spending, launch a crackdown on people dodging stamp duty and for Britain to pay less attention to EU rules. The London Mayor said economic growth “revolves around” improving the transport system, despite the pressure on public spending, and called on the Treasury to tackle the [...]
