Axiom founder sentenced to 14 years in prison over £100m ‘no win, no fee’ investment fraud August 11, 2022 The founder of a Cayman Islands headquartered fund, that bankrolled ‘no win, no fee’ lawsuits, has been jailed for 14 years for using millions in investors cash to finance his own extravagant spending habits. Axiom Legal Financing Fund founder Timothy Schools was today sentenced to 14 years in prison at a hearing at Southwark Crown [...]
Cayman Islands fund manager convicted over role in £100m ‘no win, no fee’ investment fraud August 10, 2022 The founder of a Cayman Islands investment fund, that bankrolled ‘no win, no fee’ lawsuits, has been convicted of using a complex network of overseas trust to defraud investors of millions. Timothy Schools, investment manager at the Cayman Islands headquartered Axiom Legal Financing Fund, used investors cash to fund his luxury lifestyle, that saw [...]
The best electric cars to buy in 2022 July 19, 2022 We name the best electric cars you can buy this year, including the Ford Mustang Mach-e, Hyundai Ioniq 5 and Tesla Model 3.
Week ahead: More inflation woe to pile pressure on Bank of England to act July 17, 2022 Inflation bumped higher last month, reinforcing pressure on the Bank of England to motor through rate hikes, according to City analysts. London’s premier FTSE 100 index notched a poor performance last week, losing a shade over 0.5 per cent to finish at 7,159.01 points. The domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
OBR warns MPs against loose fiscal policy July 14, 2022 As the Tory leadership contest saw contenders set out their plans for taxes and government spending, officials from the UK’s fiscal watchdog yesterday repeated warnings about the trajectory of the UK’s public finances. In a Treasury Select Committee hearing yesterday, Chair of the Office for Budget Responsibility Richard Hughes said that the UK’s debt is [...]
New prime minister has to grapple with ‘unsustainable’ UK indebtedness, fiscal watchdog warns July 7, 2022 Britain is on “an unsustainable path” to high indebtedness unless action is taken to strengthen the public finances, the country’s fiscal watchdog warned today. A combination of higher health spending to deal with an ageing society, the loss of motoring taxes due to the transition to net zero and greater geo-political risks could swell the [...]
Bank of England will sign off steeper rate hike if inflation persists, chief economist warns July 6, 2022 The Bank of England will ramp up the pace of its tightening cycle if inflation continues to motor ahead, its chief wonk said today. Speaking at the London and Qatar centre for global banking and finance conference at Kings College, Huw Pill, chief economist at the Bank, said its latest forward guidance reflects “my willingness [...]
doceo Watch List July 5, 2022 Discount Watch: 9 That’s the number of trusts whose discounts hit 52-week highs over the last seven days – an improvement on last week’s 14. Of the nine, three make an appearance for the second consecutive week: UK investor Diverse Income Trust (DIVI); Baillie Gifford European Growth (BGEU); and European big box investor Tritax EuroBox (EBOX). Sector-wise, property and private equity [...]
Labour pledges to create 30,000 EV jobs as UK lags behind competitors July 3, 2022 The Labour Party has pledged to create 30,000 electric vehicle (EV) new jobs – both in factories and across the supply chain – within the next three years. The move is part of Labour’s plan to partly fund three additional gigafactories by 2025, as it warned the UK’s investment in EV and battery production was [...]
Brits put off buying EV due to record inflation June 23, 2022 Brits are becoming increasingly put off buying electric vehicles (EV) due to rocketing inflation rates. According to a research published today by Close Brothers Motor Finance (CBMF), 41 per cent of Britons have decided against going electric as a result of the cost-of-living crisis. Figures reported that 84 per cent of people are taking at [...]