Inflation data set to fuel debate over Bank rate increase – London Report August 16, 2015 SEVERAL data releases over the coming week will add more fuel to debates about interest rates hikes in the UK, with inflation figures being published. Tomorrow sees UK producer, retail and consumer prices index (PPI, RPI and CPI) inflation. Britain’s CPI inflation fell back to zero per cent annual and monthly growth in June, while [...]
Londoners pay £3,000 more in tax than they receive back: However you slice it, everybody’s getting a raw deal from Britain’s tax code August 14, 2015 “Those with the broadest shoulders must bear the biggest burden”… “We’re doing our utmost to lift the poorest out of tax altogether.” The phrases slip off politicians’ tongues with the regularity of clockwork, as much a part of our political environment as Prime Minister’s Questions. Yet it’s clear from even the most cursory look [...]
Research reveals poorest pay biggest share of income in tax August 13, 2015 THE POOREST face the biggest tax burden in the UK, a lobby group said today. Families on the lowest incomes pay 45 per cent of their gross income in tax – more than any other income group, according to analysis from the TaxPayers’ Alliance. Most of this was down to VAT, council tax, fuel duties and [...]
How businesses are using crowdfunding in their CSR strategy: The evolving relationship between platforms and corporates August 13, 2015 Crowdfunding has democratised investing and made it more efficient. But the landscape has evolved significantly. Once dominated by platforms simply enabling people to make donations to causes, debt-based crowdfunding is now by far the largest subsector, and fashionable equity gets a lot of airtime. But despite less exposure these days, the original donation-based crowdfunding is [...]
Old Mutual restructures division to give Buxton chief exec role August 13, 2015 INSURER Old Mutual overhauled its UK wealth division yesterday, creating a new investment unit and promoting top fund manager Richard Buxton to head its retail business. The FTSE 100 listed firm has been forced into the rejig following its £585m takeover of UK wealth manager Quilter Cheviot earlier this year. Quilter boss Martin Baines has [...]
City Moves for 13 August 2015 | Who’s switching jobs August 12, 2015 Weightmans The law firm has appointed Seva Singh as partner in its large loss and technical claims insurance division. He joins from DAC Beachcroft, and specialises in high value personal injury litigation handling. Octopus Investments Pete Daffern has been appointed venture partner at the venture capital firm. He joins Octopus with 25 years’ experience, and [...]
Zut alors: Britons are the second-worst tippers (but we’re still better than the French) August 12, 2015 Britons have woken up to an uncomfortable truth this morning: we're the second-stingiest tippers in the world, it turns out. Or that's according to findings by Direct Line, whose tipping index showed (unsurprisingly) thank Yanks are the best, with 27 per cent of establishments suggesting they're the most generous, while Germans came second, with 21 [...]
Best of the Brokers for 12 August 2015 August 12, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com DAIRY CREST The Competition and Markets Authority’s welcome announcement this week indicating that it plans to accept remedies offered by Muller, the suitor of Dairy Crest’s liquid milk operations, has prompted Shore Capital to reaffirm its “buy” rating and target price of 603p [...]
City Moves for 12 August 2015 | Who’s switching jobs August 11, 2015 BlackRock Jan Bratteberg has been appointed head of the investment management firm’s iShares business in the Nordics. He joins from BlackRock’s scientific active equity team, where he was co-head of strategy. Bratteberg has also held roles with Barclays Global Investors. Bank of Cyprus UK Nick Fahy has been appointed chief executive of the bank. He [...]
Uber offices raided in Hong Kong after driver arrests in illegal taxi crackdown August 11, 2015 Uber's offices in Hong Kong have been raided by police following the arrest of five drivers in the country. An operation cracking down on illegal taxis lead to the arrests, AP reports citing a police statement. The drivers are being held on suspicion of illegally carrying passengers and driving without insurance, it said. It's just [...]