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UK GDP revised down to 0.6 per cent

The UK economy shrank by 0.6 per cent in the fourth quarter of last year, revised down from the previously estimated fall of 0.5 per cent.

Although the UK’s fourth quarter GDP is still 1.5 per cent higher than over the same time last year, the data heightens concerns over the economic health and raises questions about the effectiveness of the massive government stimulus.

Interest rates may have to stay on hold for longer, even though the a third member of Monetary Policy Committee this week called for an interest rate rise.

The Office for National Statistics revised output of the production industries from 0.9 per cent to 0.7 per cent growth. Output in the service industries was also revised down to a fall of 0.7 per cent from a fall of 0.5 per cent reported in the preliminary estimate.

Construction output, on the hand, was revised up. It fell by 2.5 per cent not by 3.3 per cent as previously estimated.


Fidelity China special sits trust C-share offer brings in £166m

Fidelity International’s China special situations investment trust, managed by Anthony Bol-ton, has raised a maximum £166.25m through a C-share offer. The trust has now become the biggest listed investment company on the London Stock Exchange that provides specific exposure to China. It is also now the second-biggest listed investment company in the UK market providing […]

Track and yield

High yield has enjoyed a great run in the last two years and it feels like the right time to take some profits


Transact tops latest Platforum survey

Transact has been rated highest in the latest survey of adviser wrap sentiment based on users of The Platforum website. IFAs used The Platforum website to assess ten platform providers, scoring them out of five in ten different categories. Standard Life came second and Axa Elevate third in the latest survey. The latest table is […]


FSA fines DB Mortgages £840,000

The FSA has fined DB Mortgages, part of the Deutsche Bank Group, £840,000 for irresponsible lending practices and unfair treatment of customers in arrears. The regulator also secured redress of approximately £1.5m for customers of DB Mortgages. This is the first time the FSA has taken enforcement action against a firm for irresponsible mortgage lending. […]

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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