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Phil Wickenden: Irrational behaviour

Often, when we think we are behaving rationally we really are not. At a wedding last weekend we were forced to park somewhere with a four hour maximum stay, necessitating two additional top-up trips to punctuate the matrimonial merriment (although I did mercifully miss an en-mass “oops up side your head” effort). On the second […]

Billy Burrows: The invisible force

According to a business associate of mine (and someone considering his own retirement options) “the sands have shifted since the pensions freedoms were announced”. Now they are here, he believes most rational people will work out the cash option is not that attractive considering the tax implications and the problem of where to reinvest it. […]

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Gross lending forecasts set to be revised down as market falters

The Council of Mortgage Lenders’ gross mortgage lending target looks set to be missed this year as the market becomes more subdued, say industry experts. In December the CML forecast gross lending of £222bn in 2015, up by 8.8 per cent from £204bn last year, and rising to £240bn in 2016. But in a “state […]

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Tesco posts record loss of £6.4bn

Tesco has posted a record loss of £6.4bn, one of the biggest losses outside of banking in British corporate history. In its annual results, published today, the supermarket group revealed it made a pre-tax loss of £6.38bn in the year to the end of February, compared with a pre-tax profit of £2.3bn the previous year. […]

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David Cameron appoints former adviser to Tony Blair as new pensions minister

Following a cabinet reshuffle in light of last week’s general election, David Cameron has announced that Ros Altmann will be replacing Steve Webb as pensions minister. As the industry works with one of the largest reforms to the sector in almost a century, the former adviser to Tony Blair has been tasked with ensuring that the pensions revolution does not stray off track.

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