Wrong state pension forecasts sent to 360,000 savers after Whitehall blunder June 4, 2019 The government has admitted “significant” problems with state pension forecasts, after revealing hundreds of thousands of people have received erroneous information. Read more: Amber Rudd gives pensions dashboard project green light Three per cent of pensioners may have made financial decisions based on false information sent by the government since 2016. This amounts to about [...]
Will the Federal Reserve cut rates in 2019? June 4, 2019 Ahead of a key speech by Federal Reserve chair Jerome Powell, markets are widely expecting the US central banker to offer a clear hint that the next move will be to lower interest rates, perhaps as early as this summer. 97.2 per cent chance of a cut The latest market indicators suggest a greater than [...]
Law firm DWF announces revenue bump in first results since listing June 3, 2019 Law firm DWF said today it grew revenue 15 per cent in 2019 in its first trading update since it went public in March. DWF became the first law firm to float on the main market of the London Stock Exchange, raising £95m in a listing that valued the business at £366m. The firm said [...]
As a global trading hub, the City is ready to face the challenges of a new digital era June 3, 2019 With changes afoot both domestically and when it comes to our relationship with Europe, it is a challenging and frustrating time for many parts of the City. What we must not lose sight of is that London – and specifically the City – has been at the centre of global trade for centuries, and has [...]
Rise in customers with multiple current accounts as fintech boom hits high street banks June 3, 2019 An increasing number of Britons now have products from a range of different financial providers, as the rise in fintech has shifted the focus away from traditional high street banks. Research by peer-to-peer lending firm Zopa revealed one in three Brits holds two or more current accounts, an increase of 36 per cent on the [...]
Only on in five businesses has insurance against terrorism June 3, 2019 Only one in five UK businesses has a terrorism insurance policy in place, according to a survey published today. Research by Comres, commissioned by terrorism reinsurer Pool Re, showed 81 per cent of businesses either do not have a policy in place or are unaware if they do or not. Read more: Law to help [...]
RBS GRG scandal: The baggage that could drag down Andrew Bailey’s quest to lead the Bank of England June 2, 2019 This summer, the Bank of England is expected to announce a successor to Mark Carney as governor. Among the runners in the contested race is Andrew Bailey, the financial watchdog chief who stands a solid chance of taking Carney's crown. While the boss of the Financial Conduct Authority (FCA) certainly has the credentials for the [...]
Graduate given £60,000 in settlement over ‘Mickey Mouse’ degree June 2, 2019 A former university student who blasted her qualification as a “Mickey Mouse” degree has been given more than £60,000 in an out-of-court settlement. Pok Wong, who graduated in business studies in 2013, claimed victory in a Facebook post, the BBC reported, as she settled with the Anglia Ruskin University’s insurer. However, the university hit back [...]
One in five digital transformation projects fails as tech knowledge falls short June 2, 2019 One in five businesses has launched an unsuccessful digital transformation project, new research has revealed, as companies fail to get to grips with new technology. Figures published by digital services firm Econocom showed a sharp increase in the number of businesses undergoing digital transformation, but revealed 20 per cent are doomed to fail. Read more: [...]
Tory leadership hopeful Sajid Javid vows to renegotiate the backstop with ‘grand offer’ to Ireland June 2, 2019 Home secretary Sajid Javid has set out a "grand offer" to avoid the need for the backstop by paying all the costs necessary to create a digitised border on the island of Ireland. The Tory leadership hopeful said it was still possible to renegotiate the Irish backstop – the insurance policy designed to prevent a hard border [...]