Equitabe Life has filed a reduced claim against former auditor Ernst & Young of £500m after its original £2.6bn claim was thrown out by the High Court in February. Equitable claims the auditor did not make it fully aware of the extent of its liabilities. Equitable says it will also appeal against the decision on its original £2.6bn claim.
What an interesting letters section last week.First, concerning the letter headlined, Call banks to account, I totally agree with Julian Stevens' comments but why stop at banks? Building societies, national and local, are only concerned in “selling” financial products and no regulator, going back to Nasdim (remember?) days has had the balls to address the […]
”It's like being on a shoot without many birds.” – Artemis product and communications director Nick Wells on the climax to the Isa season”Of course it's a lodge – have you ever seen an air-conditioned shed before?” – Syndaxi Financial Planning's Robert Reid on his back-garden office.”One IFA told me I don't look nearly as […]
Allianz Dresdner Asset Management has established the high income bond, an Oeic that will be managed by its sister company, Pimco. The fund has an estimated target yield of 5 per cent a year and will invest in a mixture of high-yield and investment-grade corporate bonds, mainly in the UK. However, up to 30 per […]
Investment house economists have been left unimpressed by Brown's budget and are continuing to watch the news on Iraq to determine future changes in the world's stockmarkets. Pundits believe the budget will have little impact on share prices as all significant changes were flagged up in the pre budget review or leaked. Framlington head of […]
The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.
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National advice firm Sandringham has made two new board appointments as it seals the hire of former James Hay director John Watson. Watson served as finance director for the platform and its parent IFG Group’s advice business Saunderson House until 2015, before taking over as chief operating officer for financial technology company Equiniti. Sandringham, a […]
Positive sales data has excited the industry but the challenge now is to carry the momentum into 2018
It is that time again where clairvoyants in the investment industry fall over themselves to file their predictions for markets in the year ahead. Analysts will pontificate on everything from the global economy and political stability to interest rates. They will aim to convince us equity valuations are stretched and the only way to avoid […]