Legal Q&A: How can a group of 10 leaseholders contribute fairly towards the purchase of the freehold of their building? July 23, 2018 There are a few issues to consider here. If all of your leases are on similar terms and have the same amount of years left to run, there is scope to agree that you all contribute equally towards the purchase price. However, there are also reasons why the leaseholders should not contribute equally. For [...]
Last Week in the City: August rate rise now less likely July 20, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (16 to 20 July 2018). The chances of an interest rate rise at the Bank of England’s August meeting appeared to recede this week after inflation data was more subdued than expected and retail sales data [...]
Insurance giant Aviva sells Friends Provident for £340m to International Financial Group subsidiary July 19, 2018 Insurance giant Aviva will sell its loss-making Friends Provident arm to International Financial Group for £340m, the firm announced this morning. The sale follows a strategic review of Friends Provident International Limited (FPIL), which made a post-tax loss of £2m last year and remitted no cash back to the parent company, Aviva said. The sale [...]
Your financial wellbeing is more than just the money in your bank account and the number on your paycheque July 18, 2018 How healthy are you? The answer might make you cringe, but chances are you’ve probably got an answer. “Relatively fit” or “could do with losing a few pounds” will probably sound familiar. But what if you were asked how financially well you are instead? You might be earning a good salary, but still find yourself [...]
City A.M.’s Crypto Insider Interviews Aldo Lo Castro of AliasLab UK July 17, 2018 AliasLab has been a leader in electronic identity IT for more than 30 years, and is now majority owned by TeamSystem Group, Italy’s leading ERP & management software and training services company employing more than 2,000 with €315m of revenue. AliasLab designs, implements and manages complete software and hardware integrations, primarily in the fields of [...]
Fintech company Revolut contacted police and regulator over money laundering worries July 17, 2018 Digital banking fintech Revolut called in police and regulators in the last few months after finding suspected money laundering on its system. Revolut contacted the National Crime Agency and City watchdog the Financial Conduct Authority after finding the suspected payments. Read more: Revolut launches Connect, its open banking enterprise marketplace The digital challenger bank was [...]
Sainsbury’s bats away criticism of new chairman Martin Scicluna July 11, 2018 Sainsbury’s yesterday defended its new chairman after he received criticsm from an investor concerned with his involvement in a botched merger when he worked for Lloyds bank. The supermarket yesterday said insurer RSA’s chairman Martin Scicluna would become non-executive chair in March 2019. Scicluna worked for Lloyds Banking Group when it bought struggling HBOS in [...]
New Financial Conduct Authority (FCA) chair Charles Randell warns of danger of big data ‘algogracy’ July 11, 2018 The new chair of the Financial Conduct Authority (FCA) Charles Randell today warned of the danger of a new “algocracy” as new technology threatens to harm consumers of financial services. Randell suggested that the concurrent rise of “big data”, artificial intelligence and machine learning, along with behavioural science insights, could require a new regulatory framework. [...]
Pensioners in the UK shelling out over £24bn in income tax July 9, 2018 The amount pensioners in the UK pay in income tax has ballooned to over £24bn, figures out today have shown. Insurer Royal London obtained the information through freedom of information (FOI) requests to find out how much people over the state pension age were paying to the tax man in different parts of the [...]
Businesses should be celebrating Pride all year round July 7, 2018 It’s no secret that people perform better when they are accepted without exception. Companies have a responsibility – both in terms of ethics and for the sake of business success – to create a culture that allows every employee to be themselves and reach their full potential. However, as we mark Pride today, it is [...]