RSS Financial

MPs want limited competition role for watchdog
LONDON (Reuters) - Britain’s new financial services watchdog should have a clear role to promote consumer choice but no power to intervene under competition law, MPs said in a report on Friday.

Employers cut temp staff for first time in two years
LONDON (Reuters) - Employers cut spending on temporary staff last month for the first time in more than two years, a survey by an industry body showed on Wednesday, adding to concerns that unemployment will continue to rise.

Shop price inflation at 16-month low
LONDON (Reuters) - Shop prices grew at their slowest pace in 16 months in December as retailers slashed prices for electrical goods, clothes and footwear in the run-up to Christmas, a survey showed on Wednesday.

Battle looms over BA pensions
British Airways signalled the start of a protracted battle with the Pensions Regulator over the price tag on its retirement obligations, the outcome of which will be crucial to its tie-up with Spain’s Iberia

Top bankers destroy value, study claims
Bankers should count themselves lucky they are being hit by a mere 50 per cent additional tax on bonuses, a report argues, because their benefit to society is negative

British Gas and SSE to cut power bills
LONDON (Reuters) - Two of Britain’s biggest utilities, Centrica and SSE, said on Thursday they would cut energy prices, a day after EDF Energy became the first of the UK’s ‘big six’ energy suppliers to bring down tariffs.

Investors urged to sell before next tax rise
Seven out of ten wealth advisers warn that capital gains tax will almost certainly be raised in a pre- or post-election Budget

Top bankers destroy value, study claims
Bankers should count themselves lucky they are being hit by a mere 50 per cent additional tax on bonuses, a report argues, because their benefit to society is negative

It’s not just bankers seeking a way round bonus tax
Fund managers, stockbrokers, and even some financial advisers will be hit by the new 50 per cent levy on “bankers’” bonuses

Battle looms over BA pensions
British Airways signalled the start of a protracted battle with the Pensions Regulator over the price tag on its retirement obligations, the outcome of which will be crucial to its tie-up with Spain’s Iberia

Banks restrict lending to existing customers
More people are applying for loans but fewer are securing one, and those banks that are lending are only doing so to their existing customers

Finance sector to step up job cuts - survey
LONDON (Reuters) - British financial firms plan to shed jobs at a faster pace after the escalating euro zone sovereign debt crisis dented their confidence during the final three months of 2011, according to a survey published on Monday.

Battle looms over BA pensions
British Airways signalled the start of a protracted battle with the Pensions Regulator over the price tag on its retirement obligations, the outcome of which will be crucial to its tie-up with Spain’s Iberia

Top bankers destroy value, study claims
Bankers should count themselves lucky they are being hit by a mere 50 per cent additional tax on bonuses, a report argues, because their benefit to society is negative

Britons’ love affair with housing on rocks
LONDON (Reuters) - Young Britons are being forced to ditch the aspiration of home ownership that has reigned in the UK for several decades, as new government measures will fail to give many the chance of buying their first home in 2012 and beyond.

New regulations to lay ETF fears to rest - Lyxor
LONDON (Reuters) - New guidelines that could be adopted next year on how exchange-traded-funds (ETFs) are sold would be a shot in the arm for the industry, laying to rest concerns about uninformed small investors buying unsuitable products, a leading provider said.

UK pension fund returns see first dip since 2008
LONDON (Reuters) - The average UK pension fund booked a negative annual return for the first time since 2008 last year, nudged into the red by a marked rise in stock market volatility caused by the euro zone crisis, an early survey of the industry showed on Thursday.

Banks restrict lending to existing customers
More people are applying for loans but fewer are securing one, and those banks that are lending are only doing so to their existing customers

Investors urged to sell before next tax rise
Seven out of ten wealth advisers warn that capital gains tax will almost certainly be raised in a pre- or post-election Budget

Top bankers destroy value, study claims
Bankers should count themselves lucky they are being hit by a mere 50 per cent additional tax on bonuses, a report argues, because their benefit to society is negative

Better third-quarter growth masks recession risks
LONDON (Reuters) - Britain’s economy unexpectedly grew faster than first thought between July and September, official figures showed, but they also revealed that growth was on shaky foundations and analysts said the economy may be about to slide into recession.

Shops target bankers on home turf for Christmas
LONDON (Reuters) - Shop tills in London’s financial districts are not ringing with their usual intensity this Christmas, prompting high-end retailers to find more creative ways to snag financiers’ cash.