Cash Isa vs stock market Isa: which has returned the most? April 2, 2019 Saving money into a stocks and shares Isa over the last 19 years would have returned two-thirds more than a cash Isa, according to calculations by Schroders. The stocks and shares Isa carries more risk and is subject to greater volatility than the cash Isa, which also provides far greater protection for your investment. You [...]
UK Asset Resolution sells Northern Rock loans for £4.9bn April 2, 2019 The UK Government’s “bad bank”, which was set up in the wake of the financial crisis, has sold £4.9bn of former Northern Rock loans to Citi. UK Asset Resolution, which took on the closed mortgage books of Northern Rock and Bradford and Bingley after the crash, said that the fair treatment of customers was a [...]
Cabinet prepares to meet as Michel Barnier warns no-deal Brexit ‘more likely’ April 2, 2019 Ministers are preparing for a five-hour cabinet marathon this morning after MPs again failed to agree a way forward on Brexit. Read more: Brexit deadlock: Parliament fails to agree new strategy Meanwhile Michel Barnier, the EU’s chief Brexit negotiator, warned that a no-deal Brexit “becomes day after day more likely” as the UK’s extended deadline [...]
Deadlocked MPs reject soft Brexit as Tory MP quits party in protest April 2, 2019 Parliament last night failed once again to back an alternative Brexit plan, just 11 days before the UK is set to leave the EU. Read more: UK service exports fall as Brexit and global economic slowdown bite None of the options voted on by MPs secured a Commons majority, although a call for the UK [...]
Euribor rate-rigging trial delivers the fraud office a much-needed win April 1, 2019 The convictions of two former Barclays bankers in the Serious Fraud Office’s long and protracted probe into Euribor manipulation will inject a new sense of purpose into an agency weary from a string of defeats and climbdowns. Today Carlo Palombo and Colin Bermingham were sentenced to a combined nine years in prison for their role in [...]
UK manufacturing hits 13-month high as Brexit stockpiling peaks April 1, 2019 Britain's manufacturing sector had its best month in over a year in March, fuelled by a record pace of Brexit stockpiling, although experts warned that no-deal preparations obscured the true picture. The UK manufacturing purchasing managers index (PMI) hit 55.1 last month as trends in output and employment strengthened, according to eagerly-watched data from IHS [...]
Ex-Barclays traders sentenced to combined nine years in prison in Euribor rigging trial April 1, 2019 Two former Barclays traders were sentenced to a combined nine years in prison today after they were found guilty of rigging the Euribor interest rate benchmark. Sentencing, Judge Gledhill handed Carlo Palombo four years in prison and Colin Bermingham five years for their part in conspiring to manipulate Euribor, the euro currency's money market reference [...]
Barclays raise concerns over Bramson’s shareholding with Bank of England and US Fed March 31, 2019 Barclays has raised concerns with the Bank of England and the US Federal Reserve over activist investor Ed Bramson’s shareholding. The US-based investor has ensured his holding is hedged by time-limited derivatives, limiting his exposure to a fall in the company’s share price as he pushes for a seat on the board next month. Read more: [...]
Debenhams completes £200m funding round to blow Ashley bid out of the water March 29, 2019 Debenhams completed its £200m refinancing deal this morning, defeating a takeover bid by Sports Direct billionaire Mike Ashley. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The announcement sent shares up almost 30 per cent as the embattled retailer said shareholders remain in its plans. The move means the department [...]
‘No justice’: Mike Ashley voices anger as Debenhams thwarts his takeover bid March 29, 2019 Mike Ashley has railed against Debenhams’ move yesterday to thwart his takeover offer, saying “if there were any justice in the world the majority of the advisors would be put in prison”. Read more: Debenhams bondholders back £200m rescue loan in blow to Ashley bid The billionaire owns a 30 per cent stake in the department [...]