Plus500 says German regulator proposals will have “no effect on business” December 9, 2016 Shares in one of Britain's largest spreadbetting jumped over four per cent after it hit back at a clampdown by the German financial regulator. It's been a torrid week for spreadbetters after the UK's Financial Conduct Authority (FCA) clamped down on new customer promotions and the amount of risk traders can take on. German counterpart BaFin revealed plans for similar restrictions [...]
Trading platforms must bet on a stable outcome December 8, 2016 Spreadbetters experienced the most modest of recoveries yesterday, with shares in IG Group gaining nearly six per cent, Plus500 climbing around three per cent and CMC Markets edging up just 1.3 per cent. Investors, given 24-hours to reflect on the previous day’s bloodbath, clearly did not find reason to significantly alter their view of the [...]
Metro Bank’s new partnership proves the Post Office’s importance December 7, 2016 One of Britain's newer financial institutions has team up with one of Britain's oldest and revered high street networks. Metro Bank today announced its business customers will be able to use the Post Office's 11,600 branches to deposit cash and cheques as well as obtain change. The tie-up will help the challenger to keep up with increasing [...]
Numis boss glosses over sterling’s demise after posting record revenue growth December 7, 2016 Stockbroker Numis raked in the cash after posting its best ever revenue growth over the last year. Despite 2016's shock events one of Numis’ two co-chief executives said he was feeling positive about next year. “We’re expecting M&A activity to pick up next year, after a relatively flat period,” Ross Mitchinson, co-chief executive, told City A.M., adding, “Brexit [...]
Challenged becomes the challenger: An established asset lender just got a banking licence from the FCA December 7, 2016 Regulators today gave Aim-quoted lender Private & Commercial the green light to operate as a fully-fledged challenger. The Financial Conduct Authority (FCA) approved Private & Commercial's application for a banking licence, meaning it can open its doors to taking cash deposits. Read more: Digital challenger bank N26 has pulled back from its UK launch plans [...]
MCC World Cricket committee agree on a series of law changes to adjust the balance of power in the game December 7, 2016 Cricketing authorities are set to clamp down on the dominance of batsmen over bowlers by limiting bat sizes for the first ever time. A raft of changes is set to be introduced next year following the MCC World Cricket committee meeting in Mumbai over the last two days. The committee concluded "the balance of the game has tilted [...]
The Brexit vote will scare workers into saving for retirement December 6, 2016 Britain's decision to leave the EU will boost pension savings as concerns over future financial uncertainty provide a catalyst for workers to put more money aside for their retirement. Nearly half of businesses polled by Close Brothers believe the Brexit vote will increase employee engagement in retirement planning and over one in four employers expect staff to increase their pension [...]
Wolseley investors recognise boost from foreign exchange as shares edge up slightly December 6, 2016 Building materials supplier Wolseley's revenues were given a £600m first quarter foreign exchange boost as it posted a 21 per cent increase in trading profit. Shares in the UK-based firm nosed up around one per cent in trading, reflecting the fact like-for-like sales were up a more modest 1.8 per cent. US operations grew by [...]
Contracts for difference: What are they and what’s the FCA’s problem with them? December 6, 2016 It's been a tumultuous day so far for spreadbetting firms after financial regulators announced plans to clamp down on the retail trading of contracts for differences (CFD) products. Platform investors ran for the hills in the wake of the news: the likes of IG Markets, Plus 500 and CMC Markets have had between a quarter and [...]
