What will happen to UK equities if we leave the European Union? June 21, 2016 The pound and the FTSE soared yesterday, as the Remain camp wrestled back its lead in the polls. But the outcome of Thursday’s EU referendum is far from clear, with pundits saying that voter turnout will be pivotal in determining whether the UK stays or leaves. If Article 50 is triggered and sterling dives, what should [...]
What will central banks do next? Prepare for more unconventional monetary policy, experts warn June 14, 2016 Eight years since the global financial crisis, and central banks are still experimenting with ever-more unusual ways to fire up their economies. “We have had QE money printing, QE involving corporate bonds, very cheap loans to banks, and in the US they have been buying up troubled assets,” explains Jim Leaviss of M&G Investments. But despite [...]
Bilderberg meets today: Here’s the full guestlist June 9, 2016 It may not be quite the shady organisation of conspiracy theorists' fevered imaginations – but the traditionally secretive Bilderberg conference nevertheless courts a certain amount of intrigue. This year, presumably in an effort to increase transparency, the conference's organisers have published a list of everyone attending (lizard people notwithstanding). The list, according to Bilderberg, is about [...]
Axa to sell Sun Life to Phoenix on €400m loss May 27, 2016 UK insurer Phoenix is to buy Axa Wealth's pension and protection business Sun Life in a deal worth £375m – less than the £500m figure that had been touted previously. Axa said the deal, which is expected to complete in the second half of this year, would generate a loss of €400m. It is part of [...]
Axa unveils shake up of top team ahead of chief exec’s start May 27, 2016 Axa has revealed a major shake up of its senior team – including a new chief executive of its UK business – ahead of the arrival of incoming boss Thomas Buberl later this year. From 1 July the group will boast a new management committee that will "reinforce the role of large countries and global [...]
HSBC to appoint new boardroom pay chief as current chair Sam Laidlaw set to quit May 25, 2016 HSBC is set to appoint a new boss for its boardroom pay committee as current chair Sam Laidlaw is set to step down from the bank's board as early as next year. Laidlaw, the former boss of Centrica, took over as chair of the bank's remuneration committee from former Rolls Royce chairman Sir Simon Robertson last [...]
An uncomfortable truth? Tobacco shares are performing surprisingly well May 25, 2016 Earlier this week, Axa announced it will stop investing in tobacco shares on ethical grounds because of the "tragic" human cost of the cigarette industry. The world's largest insurer said it will sell its tobacco portfolio, valued at around €1.8bn (£1.4bn), in a move it also hopes will generate savings by resulting in fewer claims [...]
Why long-term investors shouldn’t fear Brexit: Alarming projections have emerged about the impact of Britain leaving the EU on sterling, stocks and bonds. But there are reasons not to expect the worst May 25, 2016 You’d be forgiven for thinking the investment industry is united against Brexit. Accompanied by alarming forecasts about the impact of a Leave vote on sterling or the risk to various sectors of the UK economy, repeated reports have painted the referendum as a choice between emotion and reason, with Remain the only sensible option for [...]
Will Axa’s decision to quit investing in tobacco have a negative impact on the industry? May 24, 2016 Jasper Lawler, a markets analyst at CMC Markets, says Yes. Axa stubbing out its £1.3bn in tobacco investments could have both short and long-term negative consequences for the industry – a physical overhang of shares, and setting a precedent among insurers. In the short term, pouring its holdings onto the market will create a supply of [...]
Axa has said it will sell its tobacco portfolio because of its “tragic” human cost May 23, 2016 Axa, the world's largest insurer, has announced it will stop investing in tobacco on ethical grounds, citing the "tragic" human cost of the industry. The group intends to sell its tobacco portfolio, valued at around €1.8bn (£1.4bn). Axa will also sell all of its equity holdings — worth about almost €200m — in the sector immediately. Incoming chief executive Thomas Buberl acknowledged [...]