As Jerry Hall and Rupert Murdoch walk down the aisle, we sum up weddings in numbers: from venue costs and gift lists to tax tips for married couples and engagement ring costs March 4, 2016 Love is in the air, especially if you're in London. Media mogul Rupert Murdoch and supermodel Jerry Hall have, according to various reports, tied the knot today at Spencer House. The two seem like a financially-savvy pair so we're sure they'd appreciate knowing these numbers behind weddings: 1. Friends and family thinking about their budget for [...]
As the collapse of Powa shows, fintech can be a dangerous game because the UK’s capital structure is prohibitive to growth March 4, 2016 Another day, another failed fintech business. I don’t say this glibly as it is in my interests to be part of a thriving UK financial technology industry. I do however think that we need to analyse ‘sustainable’ fintech and concentrate on that arena. Companies like Powa Technologies, the payments group, stand out. Powa was at [...]
Battersea panic stations: Investors flee luxury scheme as up to £2m is knocked off some asking prices March 4, 2016 More than 50 luxury flats on sale at London’s iconic Battersea Power Station have had their prices slashed since January, with some seeing discounts as large as 38 per cent in a sign that wealthy foreign investors are scrambling to desert the scheme. The news adds to fears that demand for prime homes in the capital is [...]
Fresnillo share price falls despite it making cost cuts amid commodity price rout March 1, 2016 Fresnillo shares slumped 3.8 per cent to 962p per share this afternoon, after making gains in recent weeks. The figures Fresnillo's revenue rose 2.2 per cent to $1.44bn (£1bn) in the year ended December 31st, from $1.41bn a year earlier. This came as Fresnillo ramped up production and made productivity improvements, which helped offset some of the damage from tumbling precious [...]
EU membership: The true cost to Britain’s economy – and the unrealistic assumptions you need to make the numbers net positive February 25, 2016 Many people are surprised to find that, back in the early 1970s, all the studies undertaken before we joined the then EEC pointed to a negative economic impact. This was due to direct payments to Brussels, alongside the effect of the customs union (common external tariff), which raised prices above world levels, most notably in [...]
London mayoral election 2016: Labour mayoral candidate Sadiq Khan publishes his own tax returns after Conservative rival Zac Goldsmith revealed his earlier this week February 24, 2016 Labour mayoral candidate Sadiq Khan has published his personal tax returns, after his Conservative rival Zac Goldsmith revealed his own tax records earlier this week. According to figures provided by Khan's campaign today, the MP for Tooting earned £61,401 as a member of parliament last year, and banked another £1,500 in media appearance fees. He [...]
Investing in junior Isas: Why kids can be risk-takers February 23, 2016 I'm getting into stocks. Or perhaps more accurately, I’m getting into stocks via a tax-free savings and investment account designed specifically for my daughter, who’s barely a month old. While none of this will technically be my money, there’s an underlying lesson here for the broader investment environment: time. If you are a short-term trader [...]
London mayoral election 2016: Conservative candidate Zac Goldsmith earned more than £10m in the last five years, paid almost £700k in taxes last year alone February 22, 2016 Conservative mayoral candidate Zac Goldsmith has today published new details about his tax returns for the last five years, after facing tough questions on his previous "non dom" status. According to a letter released by Goldsmith's campaign from PwC (see below), Goldsmith paid £692,870 in income and capital gains taxes last year, and another £4,573.32 in National Insurance [...]
Stamp of approval: Has the Chinese economic slowdown licked the value of philatelic investments? February 18, 2016 When share prices are volatile, fine wine, art and other tangible assets offer the bittersweet assurance that your investment will only turn to dust if exposed to excessive sunlight or extremes in temperature. Interest in philatelic investment, or stamp collecting, peaked after the financial crisis as investors turned to alternative asset classes to diversify their [...]
Oil prices: UK oil baron Algy Cluff warns chancellor George Osborne that the North Sea industry is on the brink of destruction February 17, 2016 One of Britain’s best known oil tycoons has warned that low prices could destroy the UK oil industry if the government fails to slash taxes and encourage exploration in the sector. Speaking exclusively to City A.M., Algy Cluff, who pioneered exploration in the North Sea in the 1970s, has added his voice to a growing [...]