Investors could be missing out on thousands by following the advice of the Bank of England’s chief economist October 3, 2016 Property might be the investment of choice for the Bank of England's chief economist but research by a leading investment platform suggests that shares are the best option when saving for retirement. At the end of August, Andy Haldane was lambasted by pension experts for advocating his choice to invest in property rather than in a pension scheme. [...]
Audioboom shares jump up and down after Chinese funding update October 3, 2016 Woes at Audioboom deepened today after it revealed it had missed its own deadline to secure vital external funding. The podcast provider – whose investors include property tycoon Nick Candy and his wife, actress and singer Holly Valance – said that it had not managed to secure a strategic equity investment of $8m from an unnamed Chinese investor. Although the [...]
Research proves that investors are better off putting their money with a female fund manager October 3, 2016 There is always a lot of noise about what to do with your investments. Which asset? What asset management company? Index tracking or actively managed? But new research has revealed that there is one other important consideration that could bolster returns: make sure your fund manager is not a bloke. Read more: GlaxoSmithKline names Emma Walmsley [...]
ING announces largest restructuring since the height of the financial crisis with a refocus on technology October 3, 2016 Dutch banking group ING announced this morning that it plans to scrap 7,000 jobs as part of a near €1bn (£873m) restructuring. Cost savings of €900m by 2021 have been earmarked by ING, and the lay-offs represent approximately 12 per cent of the group's workforce. The job losses are the largest since its painful restructure at the height of the financial [...]
Southern Rail sets out eight-point plan in open letter to RMT as it attempts to avert more strikes October 3, 2016 Southern Rail's owner has made a final attempt to break the deadlock in its long-running industrial dispute with the Rail, Maritime and Transport (RMT) union. A series of five walkouts between 48 and 72-hours are planned in the coming weeks with the first starting on 11 October. And Govia has upped its efforts by setting out an eight-point plan that [...]
A one-day walkout on Virgin Trains East Coast started this morning October 3, 2016 A 24-hour strike on Virgin Trains East Coast kicked-off in the early hours of this morning as part of a long-running dispute over jobs. The rail franchise said that it plans to run a normal service despite the Rail, Maritime and Transport (RMT) union saying that around 1,800 of its members would be taking action. Read [...]
The man who will run accountants BDO for the next four years is revealed October 3, 2016 Paul Eagland was unveiled today as the new managing partner of accountants BDO and he promised to champion the cause of clients and support a new the generation of business advisers. In contrast with larger competitors, BDO has a client base that is skewed towards medium-sized enterprises and Eagland was keen to make sure that their voices were going to be heard by policymakers. Read [...]
Pension deficit rate of rise slows but experts warn this isn’t the end of problems October 3, 2016 The meteoric rise in pension deficits abated during September with aggregate levels stagnating for the first time since the Brexit vote. Deficits have leapt since Spring after asset value growth failed to keep up with the rate at which bond yields have collapsed. Read more: Pension costs pose a material threat to UK plc profitability say [...]
Business growth expectations at highest levels for over a year says CBI October 2, 2016 The prospect of an interest rate cut in 2016 is diminishing according to experts after the Confederation of British Industry (CBI) said that it expects a bumper Brexit bounce in the final quarter of 2016. The CBI said that businesses across the manufacturing, service and distribution sectors are anticipating strong output growth for the next three months, jumping to their highest levels [...]
Former MPC member doubts positive economic sentiment and urges the Bank of England to act October 2, 2016 Former interest rate-setter David Blanchflower has urged Mark Carney to act quickly to manage an economic downturn despite an increase in positive economic sentiment being reported. "[The] time to act is now," said Blanchflower who served on the Monetary Policy Committee (MPC) between 2006 and 2009 and was renowned for championing a rate cut as early as October 2007. Read [...]
