Barclays says au revoir to French retail division in latest non-core asset sale December 12, 2016 Barclays has today agreed to sell its French retail business, marking the bank's final departure from retail operations in continental Europe. The lender has agreed to sell the 74 retail branches, life insurance business, wealth and investment management arm, and brokerage operations in France to private equity firm AnaCap Financial Partners. No price was disclosed for the deal, but Barclays noted [...]
13 years of returns: history’s lesson for investors December 12, 2016 There is no guaranteed route to success when it comes to investing, but the data below illustrates why it is important not to hold all your eggs in one basket. 13 years of asset class performances A widely-held belief is that shares deliver the best returns over the very long term, at least among the [...]
UK economy gets end of year boost as City jobs market flourishes December 12, 2016 The economy will end the year on a high note with an upswing in the City’s job market, improved growth forecasts and a brighter outlook for business output. A survey from professional services recruiter Morgan McKinley out today shows the City’s job market picking up pace again following the Brexit vote. There was a six [...]
Blockchain chief executive Peter Smith talks smart contracts, homelessness and starting the world’s largest bitcoin wallet December 12, 2016 When I speak to Peter Smith, he is mid-juggling three events in as many days: a board meeting, moving his entire London team to new offices, and the office Christmas party. “We haven’t even had the office opening yet, but it’s all been fine,” he reflects. The first of these requires a day trip to [...]
The City is a national asset with massive potential to address regional inequality December 12, 2016 One of the hardest parts of the lord mayor’s job is getting people to think of the financial City as more than just London. Our capital is certainly a vital part of the UK’s offer, but so are the many smaller towns and cities that lie beyond the M25 that, together, provide two thirds of the UK’s [...]
With the Fed set to hike interest rates this week, will a stronger dollar pose a threat to the world economy? December 12, 2016 Craig Melling, investment manager at Progeny Asset Management, says Yes. The recent boost to the dollar since the US election has been welcomed by investors and stock markets alike. However, looking more closely at the impact of a surging dollar leads us to believe that this is a potential setback for the world economy. First, [...]
Business as usual gives a post-referendum boost to GDP forecasts but inflation is going to dent growth, says British Chambers of Commerce December 12, 2016 A “business as usual” approach from UK businesses has kept the economy steady since the EU referendum, according to the British Chambers of Commerce (BCC), as they revised up growth for 2016 and 2017. The business lobby group’s forecast of this year’s annual GDP growth rate has been upgraded to 2.1 per cent, as firms [...]
Job market shakes off Brexit blues as number of City roles up for grabs soars in November December 12, 2016 Londoners who plan to spend the festive period polishing off their CVs are in luck, as the City job market has surged back into action following the Brexit vote. Figures out today from professional services recruiter Morgan McKinley show a six per cent year-on-year increase in professional jobs available for November, the first year-on-year rise recorded [...]
Why this is a disqualifying offence for a value investor December 9, 2016 Some people apparently just will not be told. While past performance is no guide to the future, despite all the evidence a value-based approach outperforms over time, investors’ money is increasingly clustering in more non-value-oriented offerings – sometimes known as ‘growth’ but probably more accurately called ‘momentum’ funds. The current situation is starkly illustrated by the following [...]
Mark Carney is right; the robots are coming – but that doesn’t mean we should fear them December 9, 2016 On Tuesday governor of the Bank of England, Mark Carney, warned that up to 15m British jobs could be replaced by robots amid a merciless technological revolution. Unsurprisingly, the announcement sent headline writers into delirium and administrative staff up and down the country into a state of pre-Christmas anxiety rivaled only by that of a [...]