Insurers power ahead to keep London on top September 21, 2014 INSURANCE COMPANY of the year Insurance is the one of the great success stories of the British financial services industry. Our insurers are powering ahead helping London to maintain its place as the centre of world finance. And the sector is contending with the government’s shake-up of pension rules by ending compulsory annuities. Almost all [...]
You may feel rested, but what about your skin? September 16, 2014 As you return from your summer holidays relaxed and refreshed, give a thought to your skin. After a long flight that “healthy glow” may not be so resplendent after all. While many symptoms caused by travelling can be solved by simple over the counter remedies, there will be some that are more serious. Stephanie Munn, [...]
The financial A to Z of Scottish independence – CNBC Comment September 15, 2014 A new, independent Scotland might flummox a foreign visitor. So it’s lucky this financial A to Z has turned up – even if some say it’s a parody of the Better Together campaign. A: Alex – Scotland’s official unit of currency, though largely superseded by an informal bartering system, where one barrel of oil [...]
Europe’s biggest banks are still facing dozens more giant fines September 11, 2014 EUROPE’S biggest banks could face as many as 63 more giant fines between them over the coming years as regulators continue to comb through their misdeeds, analysts at Berenberg warned yesterday. There are 15 major issues still outstanding which could lead to fines of more than €100m (£80m) each, per bank. Those investigations include Libor [...]
Scottish independence: How a Yes vote would “markedly lower” GDP growth September 10, 2014 With the polls tightening and the possibility of a break-up of the United Kingdom looking ever more credible, politicians and investors are weighing up the possible consequences of a Yes vote. Axa Investment Managers has released a research note examining the economic aftermath for the remaining part of the UK in the event of a [...]
How do Islamic bonds work without interest? By generating profit September 9, 2014 Goldman Sachs announced last week that it is planning to issue its first Islamic bond, and has already set the ball rolling by meeting potential backers in Qatar and the United Arab Emirates. With a wealth of potential investors to tap into in the Middle East, it is no surprise that Goldman has taken [...]
Standard Life share price rockets on £2.2bn deal with Manulife September 4, 2014 Standard Life received a bullish response yesterday from markets and analysts to the sale of its Canadian business for C$4bn (£2.2bn), as shares sky-rocketed and analysts upgraded forecasts after the mega deal. Shares in the huge FTSE 100 listed insurance and investment firm surged by nearly 11 per cent in early trading, before finishing [...]
PPI claims to be reassessed by banks: 2.5 million cases may not have been handled fairly August 29, 2014 PPI has reared its ugly head again as the financial conduct authority ordered more than 2.5 million claims to be re-examined to ensure compensation was "fairly made". The financial regulator said banks, credit card providers and personal loan companies have agreed to reassess complaints about mis-sold payment protection insurance made in 2012 and 2013. An [...]
Asset price distortion: Central banks’ new philosophy comes with old risks August 26, 2014 PRIOR to the financial crisis, life was relatively straightforward for central bankers. They favoured opacity over their future actions, using the theoretical argument that transparency was a threat to credibility. And they refused to control asset prices for a number of reasons – the most compelling of which was the threat of moral hazard. Yet [...]
Phoenix rises and sets sights on £100bn of UK acquisition opportunities August 21, 2014 Insurer Phoenix is understood to be looking at £100bn worth of potential acquisition opportunities in the UK, following a promising set of half-year results announced yesterday. The group is also seeking an investment-grade credit rating that it expects will reduce the cost of its debt by around 50 basis points and give it access [...]