Finally, all UK banks pass the stress tests: is now the time to invest? December 8, 2017 Imagine you emerged blinking from your bunker in the wake of this: interest rates up to 4 per cent the value of the pound down more than a quarter unemployment up almost 10 per cent residential property prices down by a third commercial real estate prices down by two-fifths world and UK GDP down 2.4 [...]
National Audit Office criticises universities for “mis-selling” courses December 8, 2017 The UK’s public spending watchdog has criticised universities for essentially mis-selling courses to students, saying they would be accused of such if they were regulated like financial services. A new report by the National Audit Office (NAO) found only 32 per cent of students in higher education think their course offers value for money, down [...]
HSBC’s second largest shareholder revealed as Chinese insurance giant Ping An December 6, 2017 Chinese insurance giant Ping An today emerged as HSBC’s second-largest shareholder. A regulatory filing revealed Ping An had snapped up a chunk of shares taking it over a regulatory threshold. The insurer increased its interest in Britain’s biggest bank from 4.96 per cent to 5.01 per cent. Ping An’s £7.3bn stake makes it HSBC’s second-largest [...]
Barclays chairman John McFarlane: Moving euro clearing away from London threatens global financial services December 6, 2017 Moving euro clearing away from London could send shockwaves across the global financial community, forcing up transaction costs and causing capital requirements headaches, one of world banking’s most influential voices has warned. Speaking at TheCityUK annual dinner at London’s Plaisterers’ Hall, chairman John McFarlane said Brexit in March 2019 is a reality that needs to [...]
Bitcoin faces tighter UK regulation under money laundering plans December 4, 2017 The UK is looking to crack down on bitcoin by expanding European Union anti-money-laundering rules that force traders to disclose their identities and report suspicious activity to include cryptocurrencies. Bitcoin prices have rocketed more than 1,000 per cent this year, but despite digital currencies becoming more mainstream they are often still associated with cybercrime. The [...]
JP Morgan Cazenove widens its lead as top FTSE 100 stockbroker, but Numis retains overall crown December 4, 2017 The brokers at JP Morgan Cazenove will be entering the festive season safe in the knowledge that their firm is still the FTSE 100 favourite, according to data out this morning from Adviser Rankings. JP Morgan widened the lead ahead of its main competitor, Bank of America Merrill Lynch (BoAML), which saw its FTSE 100 [...]
Carillion share price hits fresh lows: Banks were left on the sidelines while shares plummeted December 4, 2017 Carillion’s stock market valuation hit fresh lows last week, with the stricken contractor now worth little more than £70m. The firm’s travails have been well documented; massive contract write-downs and mind-boggling losses have been pounced upon by short sellers convinced the worst is yet to come. With Carillion’s shares starting the year at 236p each, [...]
Shares in this FTSE-listed business Torotrak have just plummeted 48 per cent on failing to secure a refinancing December 1, 2017 London-listed engineering business Torotrak has certainly taken a wrong turn somewhere, as its market cap was halved today upon the announcement that it had failed to secure a refinancing. Torotrak, which focuses on emissions reduction and fuel efficiency technology, said it had been “trying to secure a refinancing of the company to address its financial [...]
14 years of investment returns: history’s lesson for investors November 30, 2017 The stockmarket has provided the best returns among the major asset classes over the last 14 years. But the total profits belie wild fluctuations year by year. Such volatility can cause problems for those who need to draw down money from their investments at certain points of their lives. A sudden drop in the stock [...]
A stroke of genius: How to get a loan by securing against art November 30, 2017 The world was stunned earlier this month when a 500-year-old Leonardo da Vinci painting smashed the world record by fetching $450m at auction. This figure might sound absurd, but understanding the multitude of factors that determine the value of art will remain a mystery to many of us. “Art is very personal,” says Freya [...]