Banks have shunned the Bank of England’s second £10bn money auction. This is the second time that the Bank of England has run an auction in an attempt to ensure that lenders do not follow in the footsteps of Northern Rock’s funding crisis.
The FSA has reinforced its message that the proposals in the Retail Distribution Review are industry led initiatives, at the IFP conference in Manchester today.Retail intermediaries sector manager Sharon Campbell repeated the FSA’s mantra that it was members of the industry not the FSA who had constructed the paper.She said: “There’s no point in us […]
The article last week headlined, Misleading claims won big payouts, was not the big story since every IFA in my experience has been only too painfully aware of it for years. On the other hand, what was gut-wrenching was the sentence by Lord David Lipsey, who said that, in his experience, some of those compensated […]
More people are saving for their next holiday than for retirement and over a third are not saving for retirement at all according to a new report from Defaqto.The Retirement Income and Savings report, published today, highlights the complacency that many people have about how they are going to fund their retirement.It found 70 per […]
By Rob Burnett, head of European equities, Neptune After nine years of underperformance versus quality growth, Rob Burnett, manager of the Neptune European Opportunities Fund, believes that value strategies have reached an inflection point. Watch Rob discuss why he believes value is well positioned to resume its historical trend of outperformance. Click here to watch […]
Expectations for a UK interest rate rise in August hardened after the services sector reported its fastest growth since last October on Wednesday, and were further buoyed by comments made by Bank of England governor Mark Carney in a speech given to the Northern Powerhouse Summit in early July. The IHS Markit CIPS Services Purchasing Managers Index, […]
BlackRock and Schroders are frontrunners to manage £109bn for Lloyds Banking Group’s Scottish Widows Investment Partnership funds, Bloomberg reports. The London-based bank is set to make its decision in the third quarter of this year, after it invited bids for its contract at the start of this year after ending the agreement it had with […]