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Correspondent's Week
“Ethiopia. I'm going to Ethiopia. Why?” This was my initial reaction when I was pre sented with a trip to this African paradise. But what could this former war-torn, famine-plagued corner of East Africa have to do with the financial services industry in the UK? Let's get this straight from the start. Ethiopia has nothing […]
Executive stress
I am a 60-year-old director of a company. My executive pension plan has just matured. I noticed a performance comparison in the financial press where my insurance company shows what returns it would have given on a policy similar to mine. The returns it quotes are much more than I got. In fact, I paid […]
Yorkshire taking the 'moral high ground' to gain edge on rivals
Yorkshire Building Society's customer promise to its one million members marks an escalation in the competition between lenders. Last week's move raises the stakes from a war on price to one covering principles and service. Communications manager David Holmes says: “This is the next stage of proving what a mutual can do. “For the last […]
Berry Birch profits slump as Moores Marr takeover fails
A failed attempt to buy rival IFA firm Moores Marr Bradley contributed to sharply reduced six-month profits at Berry Birch & Noble. Profits plunged to £177,000 for the half-year to July 31 compared with £355,000 for the same period last year, a drop of more than 50 per cent. Berry Birch & Noble paid £141,000 […]
Bonds in 2017: Stick or twist?
Royal London Asset Management Bond Fund Managers Paola Binns and Craig Inches look at why short duration could be a key tactic for fixed income investors during 2017. Read the full article here The value of investments and the income from them is not guaranteed and may go down as well as up and investors […]
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Competition watchdog slams insurers for ‘loyalty penalties’
The Competition and Markets Authority has criticised insurers over “stealth price rises” and costly exit fees for loyal customers. The watchdog looked into areas including cash savings, mortgages and home insurance after charity Citizens Advice raised a so-called “super complaint” over how longstanding customers are treated by financial services organisations. The CMA has recognised that […]
Warning high taxes could quicken post-Brexit bank departures
Banking lobbyists have warned that UK banks currently face higher tax rates than international counterparts, and that these could hasten banks’ departures if they remain after Brexit. Reuters reports that research commissioned by UK Finance and carried out by consultancy PwC shows London banks face an effective tax rate on profits of 50.6 percent, above […]
Barclays fined $15m over whistleblowing breach
Barclays has been fined $15m (£11.9m) by US regulators after attempts were made to unmask a whistleblower by chief executive Jes Staley. In 2016, a Barclays employee sent two letters regarding concerns over the chief executive’s decision to hire a former colleague to work at the bank. The whistleblower posed questions both over the experience […]
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