Budget 2015: We need a second wave of the consumer revolution to restore faith in capitalism March 17, 2015 Today, the chancellor presents his last Budget before the General Election. With limited room for tax giveaways, and a need to show that the Tories are on the side of the “little guy”, it’s time for the second wave of the British competition revolution – to arm consumers to take on big business. Ed Miliband’s [...]
Why Tory plans to reform Inheritance Tax will make a bad system even worse March 17, 2015 WHENEVER we approach a General Election or Budget, the competition for the daftest tax policy idea is always intense. The current front-runner is probably the proposal to largely exempt houses from Inheritance Tax. Some Conservatives are currently pushing plans to increase the amount of an estate which will be exempt from Inheritance Tax by the [...]
Nigel Farage: Those who can afford it should opt for private healthcare to relieve burden on the NHS March 17, 2015 Those who can afford to buy private healthcare should do so because they would help to relieve the burden on the NHS, according to Ukip leader Nigel Farage. Appearing on Tuesday's edition of the Daily Politics, Farage answered a host of questions on Ukip's policy platform, including healthcare. Farage emphasised that Ukip supported a National [...]
Investors get break from Quindell woes as board recommends offer March 16, 2015 SHARES in the embattled insurance outsourcer Quindell surged yesterday, closing up 22 per cent on the news its board was due to recommend a £640m takeover offer. The offer from law firm Slater & Gordon marks a reversal of fortunes for investors who have seen their shares pummelled since a report by short-seller Gotham City, [...]
Pension Insurance Corporation sees benefits of bond issue as profits rise March 16, 2015 Pension Insurance Corporation (PIC) has posted pre-tax profit of £170m for the year to 31 December 2014, up from £114m in 2013. The specialist insurer also reported new pension business premiums of £2.6bn across 19 transactions, with clients, including French oil group Total and management consultancy firm Aon Hewitt. PIC raised £300m through a bond issuance [...]
Aldermore Group chairman Glyn Jones steps down from Direct Line board March 16, 2015 Aldermore Group chairman Glyn Jones is stepping down from the board of Direct Line, after the challenger bank's IPO last week. Jones, who is currently a senior independent director at the insurance group, is also chairman of Aspen Insurance Holdings, which is listed in New York. As he is now chairman of two listed [...]
Quindell share price jumps 30 per cent after it confirms details of Slater & Gordon deal including possible £640m figure March 16, 2015 Shares in embattled insurance outsourcer Quindell shot up today, following a report its board was on the cusp of recommending a £640m offer from law firm Slater & Gordon for its legal arm. Quindell's share price jumped as much as 27 per cent to trade at around 127 pence per share this morning. This means the [...]
Willis Tower: Blackstone makes iconic Chicago skyscraper most expensive US office building outside of New York March 16, 2015 Private equity group Blackstone will buy Chicago’s iconic Willis Tower for $1.3bn, the most ever paid for a US office building outside New York. The tower, which at 1,450ft is the 12th-tallest building in the world, is a lucrative tourist attraction thanks to its Skydeck observation floor. Blackstone, normally known for buying distressed [...]
Bankers to face new fitness test under FCA rules March 16, 2015 Financial services firms will be forced to vet thousands of staff each year and make sure they are “fit and proper” to perform their roles under a new framework being finalised by City regulators. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) will today publish the final proposals for a new regime [...]
Atom Bank’s chief Mark Mullen on using the Post Office to launch challengers March 16, 2015 Digital banking sounds super-cool. You can manage your money entirely on a smartphone and, if you choose a new challenger, stick it to the big banks at the same time. There is one big problem – where do you pay in cash? Atom Bank’s boss thinks shared hubs like the Post Office could be the [...]