Housebuilders in £150m boon March 21, 2012 HOUSEBUILDERS were among the biggest risers in the FTSE yesterday after the chancellor said the Get Britain Building fund, which provides upfront finance to construction companies, would be expanded. Shares in Barratt Development jumped 4.42 per cent while Bovis Homes’ shares closed 3.84 per cent higher as the government announced it will increase the fund [...]
FTSE posts slim gain after Budget March 21, 2012 London’s blue chip index posted a marginal gain on closing after a volatile session as strength in market heavyweight Vodafone countered weaker commodity stocks hit by below par US data which revived concerns over demand for metals. The UK blue chip index closed up 0.54 points, or 0.01 per cent, at 5,891.95, surrendering a 0.3 [...]
Non doms flee UK tax attack March 19, 2012 THE NUMBER of individuals registered as non-domiciled with HM revenue and customs (HMRC) has fallen dramatically in the two years since a new levy was imposed on them, figures revealed yesterday. Labour chancellor Alistair Darling imposed in 2008 a £30,000 annual charge on “non-doms” who have worked in the UK for more than a few [...]
Dim view of banks puts the brakes on FTSE 100’s rally March 19, 2012 BRITAIN’S top shares eased back from last week’s 2012 highs yesterday, as weakness in banks after recent strong gains overshadowed a late-session recovery from miners, with investors awaiting the next catalyst to drive the market. The benchmark FTSE 100 index closed down 4.47 points, or 0.1 per cent, at 5,961.11. Banks, which spearheaded the FTSE [...]
Crowdfunding is a fresh new way to back business March 19, 2012 THE emergence of crowdfunding, a new method of raising capital over the internet, is set to test how adept the coalition is at adorning London’s financial services crown with new jewels, particularly as attitudes to regulation turn from light touch to intensive interference. Crowdfunding is a web-driven means of raising money from the mass market. [...]
UTILISE WHAT GOVERNMENT ALREADY GIVES March 18, 2012 EVEN the staunchest opponent of George Osborne would have to concede that there is no silver bullet to reduce the deficit and boost growth that can come out of Wednesday’s Budget. So, what do we expect? Clearly some quick, high level cost-cutting measures. The personal allowance is already pledged to increase to at least £8,105. [...]
SVG chairman Ferguson leaves after 28 years March 12, 2012 SVG Capital chairman Nicholas Ferguson is leaving the private equity group at the end of the year, after 28 years with the firm. Ferguson became a director at the company’s previous incarnation, Schroder Ventures, in 1984 and was chairman when it was spun out into SVG in 1996. A prominent figure in the private equity [...]
Twin products for the skilled trader March 12, 2012 MARKET volatility is often a problem for investors. But some, with the talent and bravery to turn turbulence into a boon for their portfolios, make good use of a pair of derivative products – contracts for difference (CFD) and spread betting. How should you choose which to use? Functionally, they are more similar than different. [...]
RWE to scale back its asset sell-off plans March 6, 2012 RWE, Germany’s second-biggest utility, plans to sell fewer assets after finding another €1bn (£834m) of cost cuts and raising its capital as it positions itself for a future without nuclear power in its home market. The company, which owns British utility NPower, reported a 45 per cent drop in 2011 net profit yesterday. It now [...]
At home and abroad, we all need to be reminded of the moral virtues of capitalism March 5, 2012 I LOVE free market capitalism. The reason is simple: I hate famine, disease, misery, and oppression. I’m on a tour around the world to promote the liberating power of free-market capitalism. I’ve edited a book on the subject, The Morality of Capitalism, which is coming out in at least 16 languages. Last week I was [...]