Pension or property: Which is the better option for your retirement? August 31, 2016 The Bank of England’s chief economist Andy Haldane drew ire from the pensions industry for the second time this year, when he claimed that property was a better investment option for retirement than a pension in an interview with The Sunday Times this weekend. “It ought to be pensions but it’s almost certainly property,” Haldane said. [...]
Brexit Britain could be new sweetheart after EU-US relations soured by Apple tax ruling August 30, 2016 Souring relations between the US and Europe in the wake of the EU competition watchdog ordering Apple to pay a record multi-billion pound tax bill could hand the UK a post-Brexit boost. Britain could be the big winner from the tax feud between Europe and the US after the EU competition commission ruled Apple should [...]
Nestle misses expectations on China, deflation and foreign exchange but expects strong full year August 18, 2016 Nestle marginally missed expectations on a cocktail of deflation in developed markets, foreign exchange and competition in China. The figures Nestle reported sales of SFr43.2bn (£34.43bn) in the six months to June 30, a 3.5 per cent increase. Net profit was SFr4.1bn for the first half, down SFr400m a year earlier. Reported earnings per share came [...]
Labour leader Jeremy Corbyn has again failed to explain the maths behind his plans for a huge national spending splurge August 17, 2016 Labour leader Jeremy Corbyn has again failed to lay out the maths behind a huge spending splurge that will include a million new homes and £500bn in infrastructure investment. Speaking on the BBC as part of the leadership debate alongside Owen Smith, Corbyn said that a combination of tax increases and growth would support the [...]
In praise of hedge funds: Why short-term activists create long-term value August 16, 2016 Activist hedge funds are often seen as the epitome of all that’s wrong with capitalism. They cut investment, fire employees, and break contracts to boost the short-term stock price, and cash out before the long-term value destruction comes to light. It’s certainly possible to find examples of this. And such stories make for good journalism [...]
Banning diesel cars is the wrong way to tackle pollution in London August 12, 2016 Everyone reading today’s copy of City A.M. wants clean air. But reducing pollution in our great city is a complex problem deserving of careful consideration and the adoption of a range of solutions. There is no magic bullet. Reducing emissions from all sources – whether planes, trains, cars or buses, or the polluting systems that [...]
This might be the reason HSBC’s shares are up despite profits going down August 3, 2016 HSBC did not perform particularly well financially during the first half of 2016, revealing this morning that pre-tax profits dropped 29 per cent. The picture was even bleaker on a quarterly basis, where profits plunged 45 per cent, failing to meet analysts' already glib expectations of a 40 per cent drop. However, there was some [...]
Here’s why Barclays’ share price is up while its profits are down July 29, 2016 Barclays' share price right now is a little bit confusing. Despite reporting a 21 per cent slump in its pre-tax profits for the first half of 2016, the banking giant's shares are up 6.9 per cent – outpacing the rest of the FTSE 100 by a long shot. Digging deeper into the figure, it's easy [...]
Nearly 40 per cent of non-doms are considering leaving UK, according to top accountancy firm July 25, 2016 Nearly 40 per cent of non-doms are thinking of permanently leaving the UK, according to a top accountancy firm. Top ten accountancy firm Moore Stephens has found that 37 per cent of non-doms are considering leaving, with 64 per cent citing changes to their tax status as a reason for considering such a move. Moore [...]
Get the corkscrew: Now is the time to flex your alternative investment muscle and buy up fine wine July 22, 2016 It's hard to believe it's only been a month since the EU referendum. Around £2 trillion was wiped off the value of global markets within a fortnight, the pound has fallen to its lowest point in three decades and British politics has descended into a virtual musical chairs, transforming in the process. The investors who [...]