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Bank of England votes to keep base rate at 0.5%

The Bank of England’s monetary policy committee has again voted to keep base rate at 0.5 per cent. The decision makes it 81 months since the BoE last changed base rate. The committee voted eight to one in favour of holding rates and was unanimous in wanting to hold the current programme of quantitative easing […]

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Jim Sykes appointed Zurich UK interim chief exec

Zurich UK Life has appointed Jim Sykes as interim chief executive following Gary Shaughnessy’s promotion to Zurich Global Life chief. Sykes joined the UK Life executive team in September 2012 and is also managing director of the company’s In Force business and is responsible for the UK life operations. He joined Zurich in 1988.

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Tyrie: Osborne’s property IHT reforms ‘a mess’

Treasury committee chairman Andrew Tyrie has branded Chancellor George Osborne’s property inheritance tax reforms “a mess”. Under proposals set out in the Budget, the main residence nil-rate band will increase from £325,000 per person to £500,000. The combined threshold for married couples will rise to £1m for married couples by 2020. However, Tyrie has written […]

Woodford backs £150m tech investment firm IPO

Star fund manager Neil Woodford is backing the £150m flotation of a technology investment company. Venture capital firm Draper Esprit was reported in November to be going public on the London AIM market, aiming to raise £120m to £150m. However, details on the size of Woodford’s investment in the firm were not immediately available. Draper Esprit expects […]

Harris Associates' view on the UK’s vote to leave the EU

By David Herro, Partner, Deputy Chairman, Portfolio Manager and Chief Investment Officer of International Equity at Harris Associates Britain’s vote to exit the European Union has led to significant uncertainty across global markets. We believe market impact of this uncertainty, though severe, is more of a shorter-term phenomenon which will provide an opportunity for long-term […]

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