Proposed government plans on steel pensions could see oldest pensioners losing out on thousands, warns former minister June 4, 2016 Proposals to rule changes for the British Steel Pension Scheme could strike the oldest and most vulnerable pensioners the hardest, a former pensions minister warned today. Steve Webb, who is now director of policy at Royal London, said his firm's calculations suggested that an 80-year-old currently receiving an income from the scheme could be as much as £10,000 [...]
Supermarket sweep: Sainsbury’s boss Mike Coupe on for 86 per cent payrise June 3, 2016 J Sainsbury has proved that it is undeterred by the general shareholder sentiment this AGM season, awarding chief executive Mike Coupe an 86 per cent payrise. As revealed in the supermarket's annual report, which was published today, Coupe will receive £2.8m for his efforts for the 2015-16 financial year, up from £1.5m the year before. However, the paypacket for Coupe, [...]
New homes on sale in London: from a Hackney reservoir opened by Sir David Attenborough to Shared Ownership homes in Greenwich and Penge June 2, 2016 Woodberry Down, Stoke Newington From £475,000 Live in an apartment overlooking a protected nature reserve in north east London that hasn’t been accessible to the public for 200 years. Sir David Attenborough re-opened the Stoke Newington Reservoir in April and now the first homes next to it, The Nature Collection, are on sale. Set across [...]
CBRE group expands into luxury end of the UK property market with acquisition of London retail property adviser June 2, 2016 Property giant CBRE has acquired the London-based property advisory Michael Horwitz & Company specialising in luxury goods retail sector, boosting its presence in the high end of the property market. The acquisition follows CBRE's move to buy the luxury property retail adviser Michael Peddar & Co in 2011. Michael Horwitz & Company, founded in 1996, has a [...]
New regulation might be seriously ill-conceived, but there is still hope for equity crowdfunding in the US June 2, 2016 Ordinary American investors finally got permission to invest in startups and other private businesses last month. Equity crowdfunding, as this form of investment has come to be known, has been a reality in Britain for almost four years. Seedrs, the London-based platform I co-founded, became the first regulated equity crowdfunding platform in 2012. Since then, [...]
Before the bell: What you need to know before the US market open June 1, 2016 The Organisation for Economic Co-operation and Development (OECD) has warned that Brexit would play havoc with the global economy and Japan's Prime Minister Shinzo Abe says the country will get fresh new stimulus in the Autumn. Here's what you need to know before the market open at 14:30 London time. US indices are pointing the wrong way in the pre-market. [...]
City Moves for 1 June 2016 | Who’s switching jobs June 1, 2016 Together Helga Wright has joined specialist lender Together, taking on the role of commercial finance director, as the business continues with its growth strategy. Helga joins from the Co-operative Bank, where she was financial director of the retail, commercial and business banking businesses, and brings a wealth of financial services experience, spanning nearly 20 years. [...]
Chinese steel and iron ore futures post worst monthly performance on record May 31, 2016 Chinese steel and iron ore futures clocked their worst monthly slump on record, amid a deepening crisis in the global steel industry. Rebar, or reinforcing steel, clocked a 23 per cent monthly decline, its worst on record since launching in 2009. The most-traded rebar on the Shanghai futures exchange closed down 0.8 per cent at 1,978 yuan [...]
Darty’s board has recommended that shareholders approve Fnac’s 170p per share offer May 31, 2016 The board of London-listed electricals group Darty has recommended that its shareholders approve a 170p per share offer from French retailer Fnac. Darty had been subject to a bidding war between Fnac and rival French homewares retailer Conforama, which is owned by South Africa's Steinhoff. Fnac had originally tabled a 101p per share offer last September, [...]
The anatomy of a FTSE 100 chief executive: From education to where you should live May 31, 2016 Reaching the corner office may take a certain amount blood, sweat and tears – but new research has suggested that it may help if you have certain qualities. Whether it's your education, background or just where you live, the FTSE 100 CEO Tracker, by recruiter Robert Half, suggests bosses of the UK's biggest businesses all tick similar [...]