March 2012 Archive

Halifax unveils Income Generator 2

Halifax has launched a new investment product linked to the FTSE 100

The Halifax has launched its Income Generator 2 investment product that offers a potential return of 7.2 per cent annually for five years dependent on the performance of the FTSE 100.

Spain launches €27bn austerity cuts as Europe raises bailout funds

Spain has announced new austerity measures

Spain has announced record austerity measures as it attempts to reduce its debts whilst the Eurozone agrees to raise the funds available for its bailout facilities to €700 billion.

Lloyd’s reveals £516m loss after year of natural disasters

2011 was year of earthquakes and tornadoes

The Lloyd’s of London insurance market has reported a loss of £516 million following the largest catastrophe claims year on record.

RBS stake could be sold to Abu Dhabi at a loss to taxpayer

Part of taxpayer owned bank RBS could be sold at a loss

The government has been in talks with Abu Dhabi sovereign wealth funds about selling a stake of up to a third of the Royal Bank of Scotland at a loss to the UK taxpayer.

Multi-manager fund performance not consistent, warns Defaqto

Consistency 'hard to achieve' suggests report

Very few multi-manager funds have managed to perform consistently since 2008, according to the latest research by Defaqto.

FT: Government looking to privatise Royal Mail by next autumn

Royal Mail could be sold off by next year

The Government is considering selling off or floating Royal Mail in 2013 if the postal organisation’s finances keep improving, according to the Financial Times.

Bank of England member warns over new financial crisis risk

Bank regulator 'must have enforceable powers'

A senior member of the Bank of England’s financial policy committee has warned that the culture within banks needs to change to prevent another fiscal disaster.

Sir Mervyn King says new FPC policy tools are an "experiment"

Sir Mervyn King says the Financial Policy Committee is an "experiment"

The Governor of the Bank of England, Sir Mervyn King, says at a Washington conference that the bank's new watchdog the Financial Policy Committee (FPC) is an "experiment".

Apple to start paying dividend to shareholders

Apple to give shareholders an extra bite

After years of resisting the idea, technology giant Apple has announced that it will finally start paying a dividend to shareholders.

London remains the top global financial centre

London has retained its position as the leading global financial centre, according to a new survey

A new survey reveals that London is still top of the financial centre league table despite regulatory changes, a weak domestic economy and the euro debt crisis.

Hector Sants resignation could damage UK financial regulation

Hector Sants has announced he will step down as head of the FSA at the end of June 2012

Hector Sants has announced he will leave his position as head of the Financial Services Authority after overseeing the creation of a new twin-peaks structure.

Gold remains a good investment in 2012

Gold is likely to increase in value during turbulent economic periods

Gold is a finite resource that is likely to continue to increase in value whether as a hedge against current economic conditions or as a longer-term investment.

Goldman Sachs executive director quits ‘toxic’ bank

Goldman Sachs blasted in resignation letter

A senior executive at Goldman Sachs has written an open resignation letter blasting the global investment bank’s ‘destructive’ and ‘toxic’ culture.

Cash takes a back seat for ISA investors in 2012

Investors 'disillusioned' with cash returns

One in three investment ISA holders has moved from cash to equities as the base rate remains at a record low, a new study suggests.

RBS and Lloyds to cut another 1,900 jobs

Part state owned banks RBS and Lloyds have announced they are to shed a total of 1,900 jobs. Trade union Unite has called on the Government to intervene.

Halifax offers 80% discount on annual charges

The current annual investment ISA limit is £10,680

Halifax Share Dealing has launched an exclusive fund discount aimed at investors looking to maximise their ISA allowance before the end of the tax year.

Legal & General launches two investment products

Legal & General has unveiled a brace of structured products, offering investors the opportunity to use two years' ISA allowances in the same investment.

RBS shareholders start £2.4bn legal claim against Fred Goodwin

Fred Goodwin, former chief executive of RBS

Private shareholders and institutional investors have begun a £2.4 billion legal claim against former chief executive Fred Goodwin and other former senior executives.

OECD CLI's point to UK economic growth in 2012

The OECD latest analysis points to tentative signs of economic recovery in the UK

The Organisation for Economic Co-operation & Development (OECD) says its indicators suggest a global recovery is being driven by the United States and Japan.

Investing in wine in 2012: The Vin-X verdict

The 2009 wine vintage has just been scored by Robert Parker

Earlier this month influential wine critic Robert Parker delivered his verdict on the 2009 vintage. Myfinances.co.uk talks to Shakeshaft of Vin-X, Fine Wine Investment Brokers, to find out more about this year’s market.

BCC urges Chancellor to scrap business rate hike plans

Chancellor urged to ditch business rate rise

The British Chambers of Commerce is calling on the Chancellor, George Osborne, to cancel his planned business rate rise in next week’s Budget.

HBOS: The bank that kept on giving when it should have stopped

The policies followed by HBOS in the run up to the financial crisis have been attacked by the FSA

The FSA has accused HBOS of "serious misconduct" and ignoring risk as it continued a policy of "aggressive lending" even as rival banks changed to more prudent lending policies.

Greek bailout agreed after bond holders agree debt swap

Greece has agreed a debt swap deal with bond holders that will mean it avoids a default

Greece is likely to receive its next bailout of €130 billion and avoid defaulting on its debt after holders of Greek debt agreed to losses of over 50 per cent.

John Lewis profits dip but all staff receive 14% bonus

John Lewis announced a slight small in profits but staff still received a 14% bonus

The John Lewis Partnership announced a slight fall in profits as it invests in new stores and its online business but all staff will receive a bonus worth 14 per cent of their annual salary.