From Ed Miliband to Martin Winterkorn: These are 2015’s biggest people moves December 18, 2015 From politicos to business nerds, it's been a busy year for people-watchers of all ilks, as the mighty fell. Whether you were more interested in the surprise departure of Barclays chief executive Antony Jenkins, or the many u-turns of Ukip leader Nigel Farage, here are the biggest people moves this year. 1. Mack the Knife's reign [...]
No. 4: La Caixa Foundation December 17, 2015 SPAIN – £350m The 110 year old La Caixa Foundation stems directly from the Spanish bank set up in 1904 by Catalan lawyer Francesc Moragas. Moragas had a deep sense of public responsibility and the bank was the first in Spain to provide social insurance. From 1918 La Caixa began to allocate part of its [...]
The Help to Buy mortgage guarantee scheme is boosting high loan-to-value lending December 17, 2015 The government's Help to Buy mortgage guarantee scheme, which offers greater protection for lenders, is boosting high loan-to-value (LTV) lending, according to new figures released today. The number of mortgage deals offering loans equal to 95 per cent of the value of a property climbed to 260 in November, the data from mortgage insurer Genworth [...]
UK pensions: Industry experts react to the Treasury’s secondary annuity market plans announcement, cautioning that people should seek advice and not rush decisions December 15, 2015 That’s not festive spirit in the air you’re sensing – people are getting pretty excited about the Treasury’s announcement this morning of plans to create the long-awaited secondary annuity market. However, pensions industry figures are urging the five million people currently receiving income from an annuity not to get too carried away. The changes are [...]
UK pensions: What the secondary annuities market means for the five million people currently receiving income from an annuity December 15, 2015 People have much greater freedom and flexibility over their pension since new rules were introduced in April. These new rules allow people over age 55 to take lump sums or income from their pension, although any amounts over and above the tax-free cash sum – which is usually 25 per cent of their pot – are subject [...]
Blue-chip index falls for eighth straight session – London Report December 15, 2015 OIL AND commodity price concerns have continued to drag on the FTSE 100, with the index touching 10-week lows at its close last night. It finished down 1.3 per cent at 5,874, its eighth straight session of losses, and down around 10 per cent so far this year. The price of key metals, including copper [...]
Forget a fintech bubble: 2016 will be the year this booming market finally gets serious December 14, 2015 In 2015, global fintech investment will top $20bn, up from $12bn in 2014. There are wide-ranging estimates of the number of fintech players around the world today, but some say it’s surpassed 10,000. In China, there are over 2,000 marketplace platforms alone. The big banks are clambering over one another to invest in (or play [...]
The new National Living Wage will set employers back £804m in direct costs alone December 14, 2015 The National Living Wage will set private sector employers back £804m in direct costs alone, according to findings released today by the Regulatory Policy Committee. The independent verification body discovered that National Living Wage, which will be introduced in April 2016 at an initial rate of £7.20 an hour for those aged 25 and over, [...]
City Moves for 14 December 2015 | Who’s switching jobs December 13, 2015 MARKETFORM Robert Brown has joined specialist underwriting firm Marketform as global practice leader of its M&A Insurance operations, heading up a team specialist underwriters and lawyers who are responsible underwriting complex transactions to provide bespoke warranty and indemnity and tax insurance products. Robert has more than 20 years’ worth of underwriting experience and has previously [...]
Which City firm has the best stash? Gracechurch ranks the Square Mile’s corporate umbrellas December 13, 2015 AS THE gale-force winds around EC3’s obnoxiously tall skyscrapers have started to resemble something of a sadistic financial round of “Gladiator”, insurers at Gracechurch have started asking some important questions. Which City institution has the sturdiest branded umbrella? Which has the most stylish? More importantly, which is the most coveted? According to the firm’s annual [...]