Wealth managers reduce exposure to UK property February 27, 2020 Following the high-profile suspensions of the M&G and Prudential UK property funds last year, UK wealth managers have significantly reduced their exposure to property. Six adviser groups have removed direct property funds from their portfolios for investors across all risk profiles, according to FE fundinfo’s Adviser Fund Index. Ten funds in the sector were removed [...]
Half of London Waterloo station to be closed this weekend February 27, 2020 Half of London Waterloo station will be closed for the whole of this weekend as South Western Railway carries out major track maintenance and renewal work on the lines. Some lines between Waterloo and Clapham Junction will be closed, with a reduced service running in and out of the former. A spokesman for the franchise [...]
Coronavirus: Global stocks spill $3 trillion as Covid-19 sends FTSE 100 staggering February 27, 2020 European stocks tumbled yet again today as fresh coronavirus concerns saw the FTSE 100 sink three per cent this afternoon as stock markets across the world dropped sharply. London’s blue-chip index plunged far below 7,000 points to 6,831.2 today after Australia’s Prime Minister warned the world is on the brink of a coronavirus pandemic. Cases [...]
Cancelled Budget forces OBR to run two forecasts in two days February 27, 2020 The cancellation of last autumn’s Budget, in place of one next month, means the OBR will now publish two sets of economic forecasts within two days of each other, to avoid falling foul of the law. The Office for Budget Responsibility is legally required to produce two forecasts annually, tied to a fiscal event. However [...]
Profits plunge 42 per cent at car insurer Hastings February 27, 2020 Car insurer Hastings said today its adjusted profit plummeted 42 per cent in 2019 which it blamed on tough market conditions. Chief executive Toby van der Meer said: “The market environment was challenging in 2019, particularly due to elevated claims inflation which has impacted our loss ratio for the year and our adjusted operating profit.” [...]
Facebook and Google ad revenue to surpass TV for first time February 27, 2020 Brands are set to splash out more advertising dollars on tech titans Facebook and Google than the entire global TV sector this year, according to figures released today. Advertising revenue for Facebook and Google parent company Alphabet is forecast to reach $231.9bn (£185bn) in 2020, according to industry body Warc. TV ad spend is set [...]
FRC tells Big Four auditors to accelerate break-up plan February 27, 2020 The Financial Reporting Council (FRC) has told the Big Four to accelerate the ring-fencing of their audit businesses by strengthening independent governance and improving financial transparency. The regulator wrote to Deloitte, EY, KPMG and PwC this week to set out details of the ‘operational separation’ blueprint, according to Sky News. The FRC is reported to [...]
Time to champion Europe’s broadcasters for the next generation February 27, 2020 Over the past decade, television, and the way we watch it, has changed beyond recognition. The explosion of global digital services like Netflix, YouTube and Amazon Prime and social distribution on platforms like Facebook, Twitter and Snapchat mean we’ve never had more choice about what to watch and how to watch it. On our smart [...]
Pound falls as UK threatens to walk away from Brexit trade talks February 27, 2020 The pound is down against the euro after Downing Street threatened to walk away from Brexit trade talks in June if it appears an agreement is unlikely. The pound fell 0.79 per cent against the euro to €1.175 and down to $1.288 against the dollar, as Britain reiterated its no-deal Brexit threat. Boris Johnson published [...]
