Lower private investment levels may indicate the Chinese economy lacks “self-sustaining growth momentum” and is relying on stimulative debt to pursue growth, according to Fitch.A slowdown in Chinese growth would cause concerns in markets around the world. However, the extent of investor concern will depend to a certain extent on how well China’s government manages a slowing growth rate.At a recent annual meeting of China’s economic leaders policymakers started addressing a possible slowdown, according to Ed Smith, an economist at Rathbones. “There was quite a clear shift in tone to emphasising reducing financial risk and accelerating structural reform,” he said.This echoes warnings from prominent economists of the risks China’s debt levels pose to the world economy. In November Bank of England governor Mark Carney highlighted Chinese over-indebtedness as one of the biggest risks to the UK’s financial system. Read more: Can we rule out a trade war between China and the US?The warnings come at the start of a new era in the relationship between China and the rest of the world, with US President Donald Trump threatening to start a trade war with the nation.The ratings agency reaffirmed China’s sovereign rating at A+ in November, with an outlook suggesting there would be no change in the coming year. However, fears of an economic slowdown could put that stable outlook at risk.Ratings, which try to take default risk into account, can have an important effect on what debt major institutional investors such as pension funds can hold. The agency predicts growth will slow to 6.4 per cent in 2017 and 5.7 per cent next year, both well below growth of 6.7 per cent for 2016.Read more: China reports slowest year of economic growth since 1990While 2016 growth was squarely within the growth target of 6.5 to seven per cent set by the Chinese government, it was also the lowest annual rate since 1990. Monday 23 January 2017 4:20 pm Jasper Jolly China’s growth boom could be threatened by debt levels says Fitch Ratings whatsapp China’s massive levels of debt will cause an economic slowdown over the next two years, according to an influential ratings agency.The pursuit of “policy settings that prioritise short-term growth targets” could leave the world’s second-largest economy vulnerable to a slowdown next year, according to Fitch. Fitch’s analysis highlights the divergence between low investment levels from private enterprises compared to state-owned enterprises, which saw investment growth boom to 19.1 per cent over the last year, up from 10.7 per cent in 2015. Share whatsapp
“She wants Britain to be a bridge between the EU and the USA. How to begin this worthy undertaking? To get out of Europe thus leaving us with no locus on the terrain where this bridge must be constructed. “We are told that it is high time our capitalism became fairer. And how do we start laying the foundation for such a noble cause? By threatening Europe with a move to a low tax, light regulation economy, the antithesis of that cause. “This jumble of contradictions shows that the PM and the Government are not masters of this situation. “They’re not driving this bus. They’re being driven. And as we pass each milestone so the landscape, in which we are operating, changes not because we have willed the change, but because this is the direction in which the bus is travelling. We will trigger Article 50 not because we now know our destination, but because the politics of not doing so, would alienate those driving the bus. “The surreal nature of the exercise is enhanced by the curious absence of a big argument as to why this continues to be a good idea. “Many of the main themes of the Brexit campaign barely survived the first weekend after the vote. Remember the £350m a week extra for the NHS? Virtually the only practical arguments still advanced – under the general rubric of ‘taking back control’ – are immigration and the European Court of Justice. “On the ECJ, I would defy anyone to be able to recall any decisions which they might have heard of; as opposed to the decisions of the European Court of Human Rights, a non-EU body. “I can honestly say that during all my time as PM there was no major domestic law that I wanted to pass which Europe told me I couldn’t. “It is true ECJ rulings are important on technical issues. “Some business likes; some not. “But no one would seriously argue that the ECJ alone provides a reason for leaving Europe. “Immigration is the issue. “Net immigration into the UK was roughly 335,000 in the year to June 2016. “But just over half was from outside the EU. “I know, in some parts of the country, there is a real concern about numbers from Europe and the pressures placed on services and wages. “However of the EU immigrants, the PM has recently admitted we would want to keep the majority, including those with a confirmed job offer and students. This leaves around 80,000 who come looking for work without a job. “Of these 80,000, a third comes to London, mostly ending up working in the food processing and hospitality sectors. It is highly unlikely that they’re ‘taking’ the jobs of British born people in other parts of the country. “The practical impact of Brexit on immigration is on analysis less than 12% of the immigration total. “And for many people, the core immigration question – and one which I fully accept is a substantial issue -is immigration from non-European countries, especially when from different cultures in which assimilation and potential security threats can be an issue. “Yet this impacted the Brexit decision. “It was Donald Trump who said without the refugees from Syria, ‘you probably wouldn’t have a Brexit.’ It is no coincidence that the infamous immigration poster of Leave was a picture of Mr Farage in front of a line of Syrian people. “Thus, we have moved, in few months, from a debate about what sort of Brexit, involving a balanced consideration of all the different possibilities; to the primacy of one consideration – namely controlling immigration – without any real discussion as to why and when Brexit doesn’t affect the immigration people most care about. “Now we’re told we have to stop debating Brexit and just do it. “Frankly, I would question whether the referendum really provides a mandate for Brexit At Any Cost. “But suppose that it does. “The argument is then that the British people have spoken; we must deliver their will; and we should just ‘get on with it’. “I agree ‘getting on with it’ is a very powerful sentiment, at present the predominant sentiment. “But were we to be true to the concept of Government through British Parliamentary democracy, rather than Government by one-off plebiscite, we would also feel obliged to point out that it isn’t a question of just ‘getting on with it’. This is not a decision that once made is then a mere matter of mechanics to implement. “It is a decision which then begets many other decisions. Every part of this negotiation from money to access to post Brexit arrangements is itself an immense decision with consequence. “If we were in a rational world, we would all the time, as we approach those decisions, be asking: why are we doing this and as we know more of the costs, is the pain worth the gain? “Let us examine the pain. “We will withdraw from the Single Market which is around half of our trade in goods and services. We will also leave the Customs Union, covering trade with countries like Turkey. Then we need to replace over 50 Preferential Trade Agreements we have via our membership of the EU; for instance with Switzerland. So, EU-related trade is actually two thirds of the UK total. This impacts everything from airline travel, to financial services to manufacturing industry, sector by sector. “We will pay for previous EU obligations but not benefit from future opportunities, with figures as high as £60bn as the cost. “We will lose influence in the world’s most significant political union; and have to negotiate on our own on issues like the environment where we presently benefit from Europe’s collective strength. “There is alarm across sectors as diverse as scientific research and culture as European funding is withdrawn. “And all this then to do an intricate re-negotiation of the trading arrangements we have just abandoned. “That negotiation is without precedent in complexity. It is even possible that it fails and we end up trading on WTO rules. “This is in itself another mine field: we would need to negotiate the removal not just of tariff barriers; but the prevention of non-tariff barriers which today are often the biggest impediments to trade and pile costs on business. “This could take years. “Our currency is down around 12% against the Euro and 20% against the dollar, which is the international financial market’s assessment of our future prosperity i.e. we are going to be poorer. The price of imported goods in the supermarkets is up and thus the cost of living. “Of course Britain can and would survive out of the EU. This is a great country, with resilient and creative people. And yes, no one is going to write us off, nor should they. But making the best of a bad job doesn’t alter the fact that it isn’t smart to put yourself in that position unless you have to. “Most extraordinary of all, the two great achievements of British diplomacy of the last decades in Europe, supported by Governments both Labour and Conservative, – namely the Single Market and European Enlargement – are now apparently the two things we most regret and want to rid ourselves of! “The Single Market has been of enormous benefit to the UK bringing billions of pounds of wealth, hundreds of thousands of jobs, and major investment opportunities; our trade with an enlarged European Union has meant for example that trade with Poland has gone from £3bn in 2004 to £13.5bn in 2016. Nations that came out of the Soviet bloc have seen themselves safely within the EU and NATO, so enhancing our own security. “In addition to all this, the possibility of the break-up of the UK – narrowly avoided by the result of the Scottish referendum – is now back on the table, but this time with a context much more credible for the independence case. “We are already seeing the de-stabilising impact of negotiation over border arrangements on the Northern Ireland peace process. “None of this ignores the challenges the country faces which stoked the anger fuelling Brexit: those left behind by globalisation; the aftermath of the financial crisis; stagnant incomes for some families; and for sure the pressures posed by big increases in migration which make perfectly reasonable people anxious and feeling unheard in their anxiety. “I always believe that if the centre ground does not deal with the problems, the extremes can exploit them. “But our duty is to give answers, not ride the anger. “Here is the paradox. “As we go through this unique experiment in diplomatic and economic complexity, the entire focus of the Government is on one issue: Brexit. “This is a Government for Brexit, of Brexit and dominated by Brexit. It is a mono-purpose political entity. “Nothing else truly matters: not the NHS, now in its most severe crisis since its creation; not the real challenge of the modern economy, the new technological revolutions of AI and Big Data; not the upgrade of our education system to prepare people for this new world; not investment in communities left behind by globalisation; not the rising burden of serious crime; or bulging prison populations; or social care; not even, irony of ironies, a genuine policy to control immigration. “Governments’ priorities are not really defined by white papers or words; but by the intensity of focus. “This Government has bandwidth only for one thing: Brexit. It is the waking thought, the daily grind, the meditation before sleep and the stuff of its dreams; or nightmares. “It is obsessed with Brexit because it has to be. “Future historians will be scurrying to investigate the antecedents of these migrants from Europe for whose restraint, we were willing to sacrifice so much. “What will they find – that they were a terrible group of people who threatened the country’s stability? They will find that on the whole they were well behaved, worked hard, paid their taxes and were a net economic benefit. “So what do we do? “The Leave campaign was a coalition, some against Europe for economic reasons; some for cultural reasons. Some were ideological in their opposition; some had done a cost/benefit analysis and concluded better out than in. “We must expose the agenda of the ideologues; and persuade those interested in the cost/benefit ratio. “For the latter, we must – day in day out – articulate the reality: the pain is large and the gain largely illusory. “But the ideologues are the ones driving this bus. “The economic future which could work outside of Europe is exactly the low tax, light regulation, offshore free market hub, with which Mrs May threatens our European neighbours, but which to the Brexit ideologues is a promise of things to come. “Indeed, this is what many in business say they’re being told by Government Ministers, but of course behind the hand, because this is the exact opposite of what the mass of voters are being told when promised a fairer capitalism with a better deal for the workers. “This free market vision would require major re-structuring of the British economy and its tax and welfare system. “It will not mean more money for the NHS but less; actually it probably means a wholesale rebalancing of our healthcare towards one based on private as much as public provision. “It will not mean more protection for workers, but less. “And if that were what we wanted to do as a country, we could do it now. “Europe wouldn’t stop us. “But as of now the British people would, because they wouldn’t vote for it. “So the ideologues know they have to get Brexit first; then tell us this is the only future which works; and by that time they will be right. “In defeating them, we have two major challenges. “There is an effective cartel of media on the right, which built the ramp for pro-Brexit propaganda during the campaign; is now equally savage in its efforts to say it is all going to be ‘great’ and anyone who says otherwise is a traitor or moaner; and who make it very clear to the PM that she has their adulation for exactly as long as she delivers Brexit. “It hugely skews the broadcast coverage. For example, a week ago there was the annual survey of top business bosses of the leading UK companies. Over half said Brexit was already having an adverse effect on their business. And half did not have confidence in the Government negotiating a good deal. “It led the FT. It was barely covered elsewhere. The BBC had it as an item of business news. “Suppose the survey had come to the opposite conclusion. It would have had at least 4 papers headlining it and would therefore have featured prominently on the broadcasts. “The second challenge is the absence of an Opposition which looks capable on the polls of beating the Government. The debilitation of the Labour Party is the facilitator of Brexit. I hate to say that, but it is true. “What this means is that we have to build a movement which stretches across Party lines; and devise new ways of communication. “There are lots of different groups doing great work, Open Britain naturally being one. “These groups must find ways of concerting strategy and tactics effectively. We should begin to create informal links immediately and then build them into a movement with weight and reach. “We need to strengthen the hand of the MPs who are with us and let those against know they have serious opposition to Brexit At Any Cost. “The Institute which I am setting up will play our part. We are creating a policy platform wider than the Europe question. There is an urgent need to re-position the whole debate around globalisation and how we make it work for people. In this sense, the Brexit debate is part of something much bigger. “But developing the arguments around Brexit will be an important element of the Institute’s work. “We need strong links with the rest of Europe. “If our Government were conducting a negotiation which genuinely sought to advance our country’s interests, that negotiation would include the possibility of Britain staying in a reformed Europe. “It is clear the sentiment which led to Brexit is not confined to the UK. There is a widespread yearning for reform across Europe. “Part of our work should be to help build Europe wide alliances to give voice and effect to such an impulse. “So this movement must have many dimensions to it. “It requires arguments of detail; and arguments of grandeur. “The case for Europe remains rooted not in understanding the past but the future. “All over the globe, countries are coming together in regional alliances for a very simple reason. As China rises, as India and other large population countries follow and with the USA already so powerful; so to maintain strength and influence, to defend our interests adequately, nations of our size will cooperate based on proximity. “This is true of the nations of Europe. “But for Europe there is a more profound reason. “The Transatlantic Alliance is needed more than ever; but how much stronger it is with Britain in Europe and Europe an equal partner with America. “Forget the short term electoral politics there or here. “In the long term, this is essentially an alliance of values: liberty, democracy, the rule of law. “As the world changes and opens up across boundaries of nation and culture, which values will govern the 21stC? “Today, for the first time in my adult life, it is not clear that the resolution of this question will be benign. “Britain, because of its history, alliances and character, has a unique role to play in ensuring it is. “How, therefore, can it be wise for us, during this epic period of global evolution, to be focused not on how we build partnerships, but how we dissolve the one to which we are bound by ties of geography, trade, shared values and common interest? “The one incontrovertible characteristic of politics today is its propensity for revolt. “The Brexiteers were the beneficiaries of this wave; now they want to freeze it to a day in June 2016. “They will say the will of the people can’t alter. It can. “They will say Leaving is inevitable. It isn’t. “They will say we don’t represent the people. We do, many millions of them and with determination many millions more. “They will claim we’re dividing the country by making the case. It is they who divide our country – generation from generation, North from South, Scotland from England, those born here from those who came to our country precisely because of what they thought it stood for and what they admired. “This is not the time for retreat, indifference or despair; but the time to rise up in defence of what we believe – calmly, patiently, winning the argument by the force of argument; but without fear and with the conviction we act in the true interests of Britain.” whatsapp Share “I want to be explicit. Yes, the British people voted to leave Europe. And I agree the will of the people should prevail. I accept right now there is no widespread appetite to re-think. “But the people voted without knowledge of the true terms of Brexit. As these terms become clear, it is their right to change their mind. Our mission is to persuade them to do so. Not sure what you think? Here’s the speech in full:Read more: Tony Blair just said he’s not returning to the front line of politics “What was unfortunately only dim in our sight before the referendum is now in plain sight. The road we’re going down is not simply Hard Brexit. It is Brexit At Any Cost. “Our challenge is to expose relentlessly what this cost is, to show how the decision was based on imperfect knowledge which will now become informed knowledge, to calculate in ‘easy to understand’ ways how proceeding will cause real damage to our country; and to build support for finding a way out from the present rush over the cliff’s edge. “I don’t know if we can succeed. But I do know we will suffer a rancorous verdict from future generations if we do not try. “How hideously, in this debate, is the mantle of patriotism abused. We do not argue for Britain in Europe because we are citizens of nowhere. We argue for it precisely because we are proud citizens of our country – Britain – who believe that in the 21st Century, we should maintain our partnership with the biggest political union and largest commercial market on our doorstep; not in diminution of our national interest, but in satisfaction of it. Tony Blair has been absent from British politics for years, now – but today he returned in spectacular style, urging the UK’s population to “rise up” against Brexit.Although some (including former deputy PM Nick Clegg) liked it, the majority of reaction has been that he missed the mark. Emma Haslett whatsapp “Rise up”: The full text of Tony Blair’s Open Britain speech on Brexit Friday 17 February 2017 10:14 am “Consider for a moment the surreal situation in which our nation finds itself. I make no personal criticism of the PM or the Government. I know the PM is someone who cares about our country, who is trying to do the right thing as she sees it, and I know how demanding the job of leadership is. “But just consider: nine months ago both she and the Chancellor, were telling us that leaving would be bad for the country, its economy, its security and its place in the world. Today it is apparently a ‘once in a generation opportunity’ for greatness. “Seven months ago, after the referendum result, the Chancellor was telling us that leaving the Single Market would be – and I quote – ‘catastrophic’. Now it appears we will leave the Single Market and the Customs Union and he is very optimistic. “Two years ago the Foreign Secretary was emphatically in favour of the Single Market. Now ditching it is ‘brilliant’. “The PM says she wants Britain to be a great open trading nation. Our first step in this endeavour? To leave the largest free trading bloc in the world. More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comPuffer fish snaps a selfie with lucky divernypost.com
August Graham Thursday 4 October 2018 1:56 pm Tags: Trading Archive by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailBetterBe20 Stunning Female AthletesBetterBeCleverstTattoo Fails : No One Makes It Past No. 6 Without LaughingCleverstRest Wow68 Hollywood Stars Who Look Unrecognizable NowRest Wowmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldCrowdy FanCouple Who Waits 9 Years To Open Their Wedding Present Gets A Rude AwakeningCrowdy Fan Teenagers charged with manipulating financial markets using social media Two young men have been charged with distorting the markets on social media while they were teenagers at a Swedish high school. whatsapp Share whatsapp The pair are alleged to have bought shares in companies listed on alternative exchange Aktietorget before posting positive messages on investor chatrooms to manipulate the prices.They would then quickly sell when the share price rose, according to the prosecution.They are said to have made 1m Swedish krona (£85,000) during six months in 2015 and 2016.The two teenagers allegedly contacted prosecutor Jan Leopoldson for advice while they were pupils at a Gothenburg school.They emailed him asking how to manipulate the stock market legally and whether bloggers are responsible for what they write, Leopoldson, who is now prosecuting the case, told City A.M. “Yet again we see a concrete example of social media being used to affect rates,” he said.In 2016 two medical students were found guilty of writing analyses on internet forums to increase share prices in primarily pharmaceutical companies. The pair made 2.5m krona from the crimes. They were given suspended sentences and a fine. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comWhy people are finding dryer sheets in their mailboxesnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org
Small business lending challenger Iwoca has closed a total fundraise of £150m, led by an earlier £7.5m investment from London-listed fund Augmentum Fintech.City A.M. understands the raise was made up of a £20m series D equity funding round and £130m in debt capital. Existing investor Prime Ventures also participated, alongside NIBC Bank. Business lender Iwoca rakes in £150m financing from Augmentum Fintech and NIBC Tags: FinTech Small business Startups Share Monday 18 February 2019 8:27 am Emily Nicolle “As an SME lender, Iwoca is unique for its scale in both the UK and Germany,” said Augmentum Fintech chief executive Tim Levene. “The factors that underpin Iwoca’s success are difficult to achieve in combination. We are confident that Iwoca will emerge as one of the few winners in the SME non-bank lending space.” A person familiar with the matter told this paper that the final fundraise, first reported by City A.M. in January, will be used primarily to expand Iwoca’s presence in Germany, both in terms of staff and customer base.The fintech firm, which offers credit facilities to small businesses across the UK and Europe, has now raised just under £60m in equity funding to date and £350m overall.Read more: Business lender Iwoca nabs £7.5m with a bigger funding raise on the horizonPast backers have included Etsy investor Acton Capital Partners and the venture arm of Commerzbank, neither of which chose to follow on their investments in Iwoca’s series D.Chief executive Christoph Rieche said the lender is “on track” to fund 100,000 businesses in the next five years, having funded just over 25,000 firms since it launched in 2012. whatsapp whatsapp More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndobonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndoScientific MirrorLily From The AT&T Ads Is Causing A Stir For One ReasonScientific MirrorUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerUndo
Callum Keown Share RBS has actively begun promoting the nine banks on its own website and its business clients will be able to explore their offers.Santander said it had hired 300 new people to its business banking team and set up a dedicated hotline to support firms through the transition.Managing director of Santander Business Sue Douthwaite said: “It is a really exciting opportunity to bring more competition to a market which for too long has been dominated by a few big players.”Read more: RBS raises dividend on booming profits, but warns on cost of BrexitBCR chairman Godfrey Cromwell said: “This announcement is an important, on-schedule, milestone. Banks begin tempting businesses away from RBS as £350m switching scheme goes live Tags: Trading Archive Monday 25 February 2019 1:24 pm Banks have begun tempting businesses to switch away from Royal Bank of Scotland as part of a scheme to boost competition in the sector.As a condition of RBS’ £45bn government bailout during the financial crisis – £350m of a state aid package has been provided to eleven other banks to help them attract firms. whatsapp Read more: Three challenger banks win £280m from RBS competition fundThe money has been used to develop business banking offers better than those currently on the market.In December the Banking Competition Remedies body (BCR) announced eleven banks had been successful, including Metro, Starling, Santander, Co-operative, CYBG and TSB.Those six, along with Arbuthnot Latham, Hampden and Handelsbanken have all gone live with new offers this morning.Monzo and Nationwide, who were chosen despite not having a business account offering, will join the scheme once they have developed business banking. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndobonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver HealthUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndoPost FunRare Photos Show Us Who Meghan Markle Really IsPost FunUndoScientific MirrorLily From The AT&T Ads Is Causing A Stir For One ReasonScientific MirrorUndo whatsapp More From Our Partners ‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comPuffer fish snaps a selfie with lucky divernypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comConnecticut man dies after crashing Harley into live bearnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com “SME decision-maker customers will be able to access a diverse range of offers from a broad selection of organisations.”Last week £280m was awarded to Metro, Starling and ClearBank, in another pot of the RBS competition fund designed to allow banks to grow their services.
6. Day off on your birthday 85.60 whatsapp Tags: Trading Archive 1. Extracurricular club 97.57 Ranking Perk Popularity (%) Read more: No more ties in the office? Suit yourselfTaking the top spot is extracurricular clubs, with 98 per cent of respondents saying after-hours activities such as arts and crafts and book clubs are a priority.Following close behind is a pool table, which was chosen by 92 per cent of people. Overall, sports-based perks proved to be a hit among employees, with ping pong tables and office sports teams also scoring highly.Games consoles and in-office video games went down well with workers, the survey revealed, while discounts on holidays, supermarkets and restaurants completed the top 10.The full list Thursday 21 March 2019 10:05 am 10. Discounts on restaurants and takeaways 83.24 Read more: Workplaces should be designed with mothers in mind 8. Discounts at supermarkets 85.52 Which workplace perks are the most popular among employees? James Warrington 5. Video games 87.83 Share 9. Free coffee and hot drinks 84.63 7. Discounts on holidays, flights and hotels 85.55 As workplace perks and office wellbeing become increasingly important to employees, businesses are starting to take note.But now a study by employee experience platform Perkbox has revealed which benefits are most popular among workers looking for a little bit more from their job. 3. Ping pong table 89.38 More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPuffer fish snaps a selfie with lucky divernypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com 4. Office sports team 88.59 2. Pool table 92.03 by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OraclePost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemPets DetectiveAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongPets Detective Perkbox co-founder Chieu Cao said: “This list highlights that there is no one-size-fits-all solution when deciding which benefits make the most sense for your company. “In fact, deciding which benefits to implement can often depend on the type of culture and industry the business operates in.” whatsapp
Share Jonny Goldstone Opinion Monday 8 April 2019 7:59 am In fact, the entire plan from the mayor’s office and Transport for London (TfL) is ill-conceived and premature in its implementation.Don’t get me wrong, we are supportive of the mayor’s stated aim to reduce pollution and congestion in order to improve public health in London. As a business, we use the latest vehicle technology to ensure that our fleet emits the least possible pollution.However, the mayor is rushing towards his goal of an emission-free London without there being adequate infrastructure for, nor supply of, zero-emission vehicles. Neither London’s charging network, nor the world’s car manufacturers, are currently able to support the mayor in his ambitions.While a lot of progress has been made, the private hire industry simply cannot keep up, and there are serious questions about whether some operators will be able to remain afloat commercially with the new rule in place.There are tens of thousands of private hire vehicles operating on the streets of London, and we have the largest fleet of zero-emission cars in the UK. If it were possible to have a fleet made up solely of zero-emission vehicles, we would be the first to do so. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likebonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comBleacherBreaker4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!BleacherBreakerFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionPost FunA Coast Guard Spotted Movement On A Remote Island, Then Looked CloserPost FunZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemMisterStoryWoman files for divorce after seeing this photoMisterStoryDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily Funny However, neither London nor our industry is ready yet. The pure electric models on the market are either too expensive, too small, or don’t have sufficient range. And for drivers whose earnings are dependent on minimising time between fares, these vehicles take too long to charge. There also aren’t enough fast charging points at the right locations across London.Added to this, from January 2020, all new private-hire vehicles will have to be zero-emission capable. This means that from January 2020, Toyota Prius and other popular private hire vehicles, which are low-emission but not zero-emission capable, will no longer be accepted for private hire licences by TfL.As such, all TfL-licensed operators and owner drivers will have to replace their current fleet with zero-emission vehicles that are more expensive and less fit for purpose.We feel that companies like ours are being punished without being given the opportunity to avoid the consequences. And the irony is that black taxis, which emit 26 per cent of London’s deadly particulate matter, and whose fares are often twice the cost of private hire vehicles, are exempt from this new charge.The proposed “electric vehicle revolution” is a great vision, but the current plan is without the necessary foundations. In reality, Khan’s new policy is unsustainable, and actually harms the broader “green” cause. whatsapp Tags: Tax Transport for London City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. Sadiq Khan’s ill-conceived pollution plan only threatens London’s push to go green Customers will be left to bemoan the green initiative; they will doubtless equate the added costs and reduction in affordable transport options to the environmental agenda, rather than TfL’s back-to-front implementation.If the infrastructure and vehicles were in place, we’d be the first to support this initiative. But imposing a new charge on an industry without the possibility of meaningful compliance, is nothing more than a tax.As the pioneers of environmentally-friendly transport in London, that is a particularly bitter pill to swallow. whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comConnecticut man dies after crashing Harley into live bearnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com From today, all private hire drivers in London will have to pay the daily £11.50 congestion charge when driving in central London.This is an enormous financial burden for some of the city’s lower paid workers – costing nearly £3,000 a year for a driver earning around £25,000. It’s also hugely unfair for operators, many of which are being forced to increase fares so that their drivers don’t have to meet the added cost.
Monday 13 May 2019 9:54 am whatsapp Share Callum Keown Norway all but hands victory to Euronext in battle with Nasdaq over Oslo Bors Euronext has won clearance from the Norwegian government to buy stock exchange Oslo Bors, handing it almost certain victory over rival bidders Nasdaq.The pan-European exchange said it now expected to complete the transaction by the end of next month. Tags: Trading Archive Nasdaq said the Norwegian finance ministry’s ruling was “disappointing” and it would assess its options.Nasdaq Nordic president Lauri Rosendahl said: “There are no exchanges in Europe where a majority shareholder owns more than 50 but less than two-thirds of the shares.“We were hopeful the Norwegian authorities would make a decision consistent with this widespread European practice.”The company said from conversations with investment firms, industry bodies and the public, it felt that a large majority preferred Nasdaq to be the new owner of Oslo Bors.”This takeover is an unintended, yet unavoidable consequence of the competition landscape post Mifid I, which have been accentuated by Mifid II,” Lars Wilberg, from global trading systems provider Itiviti said. Read more: Euronext gives Oslo Bors shareholders more time to back its offerThe US giant, which has support from 37 per cent of Oslo Bors shareholders, had hoped the Norwegian finance ministry would rule that a two thirds majority of shares was needed to secure a deal.The ministry confirmed there were no restrictions, handing the advantage to Euronext, which has support from 53.2 per cent of Oslo Bors shares.The pair have been locked in an intense battle over the Norwegian stock exchange since the end of last year.Both offers of 158 Norwegian kroner per share, value the business at roughly 6.8bn Norwegian kroner (£600m). “The pressure on transaction costs have reached a level where you need to scale your business or simply perish.”Read more: Nasdaq increases Oslo Bors stake as battle with Euronext comes to a headThe decision was welcomed by Euronext, however, who hoped to complete the deal next month.Chief executive Stephane Boujnah said: “Euronext welcomes the ministry’s clearance to acquire up to 100 per cent of Oslo Bors’ capital and look forward to completing the next steps to close the transaction by the end of June 2019.“As part of the Euronext family, Oslo Bors will continue to be a strong and leading Nordic exchange and CSD, and a hub for Euronext’s ambitions in the region.” whatsapp
City minister John Glen has warned that the UK must think carefully about its regulation options post-Brexit, arguing that EU rules had been the “hallmark of our credibility”. Speaking at a Conservative Home fringe event at the Tory party conference, Glen said: “I think people sometimes characterise the opportunities of Brexit as, well, we can throw up all of those EU regulations and all will be well. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryMisterStoryWoman files for divorce after seeing this photoMisterStoryzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLamabonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comJournalistateTeacher Wears Dress Everyday, Mom Sets Up CamJournalistatePost Fun25 Worst Movies Ever, According To Rotten TomatoesPost Fun Alexandra Rogers City minister John Glen warns against turning away from EU rules post-Brexit Britain’s regulatory relationship with the EU hangs in the balance while its exit from the bloc – with or without a deal – remains unknown. The economic secretary to the Treasury struck a cautious tone while discussing regulation for financial services sector, saying that while it was important that the UK “maximised” its advantages, it should not deviate from global standards. He said, however, that there were global financial partnerships to be made with similarly mature financial services environments such as Switzerland, Hong Kong, Singapore, Japan and the US. whatsapp Monday 30 September 2019 9:25 pm If the UK leaves the EU with a deal on the Brexit deadline of 31 October, it would continue to have access to the bloc’s financial services market until the transition period ends in 2020. However, if it left without a deal, the UK is relying on the understanding that its rules are closely enough aligned to the EU’s to avoid any barriers. “There are opportunities, government to government, regulator to regulator, to actually create a better and smoother environment for more economic activity.” “We need, I think, some sort of department that provides regulatory certainty to emerging unknown products and services, rather than leaving them in the twilight zone until we slotted them into a particular feature. I think that would assist innovation greatly.” “Well, the bottom line is that actually, for systematic stability reasons, the EU framework that we will need to relate to in some form, has been a hallmark of our credibility. US investment banks don’t locate in London just for the sake of it. They do it because they can access a massive market in Europe.” Share whatsapp Mark Littlewood, the director general of the Institute for Economic Affairs, suggested that the Department for Exiting the European Union should not be scrapped after Brexit, and should instead be tasked with deregulation or for “regulatory optimisation”.
whatsapp The uniting feature of these three companies is that they are all in the FTSE 350 – at the larger end of the scale in terms of small-cap companies – and have a proven track record. Opinion “Its share price has been in a falling trend since the start of 2017, suggesting that the market doesn’t have a strong appetite for the stock. Now only worth £37m, the company has recently been borrowing money to relieve working capital pressures.” Perhaps if Woodford had stuck to his original strategy of buying small but established household names, rather than veering into startup territory, he wouldn’t be in the trouble he is in today. whatsapp The third worst performer for the year is Tissue Regenix Group, dropping 64.7 per cent. It has also fallen by a staggering 43.4 per cent since June. Woodford owns more than a fifth in the company. During three decades as a fund manager, Woodford was renowned for making controversial investment decisions – for choosing stocks that were unloved and undervalued by the markets, but which had potential to grow. The business, which develops vaccines for viruses like flu, has also been the sixth worst performer since the fund was suspended back in June. Cost-cutting efforts and efficiencies might have improved its outlook since 2018, but it still reported a loss of £3.8m for the first half of this year. Woodford currently has a 18.8 per cent stake. Dan Coatsworth, stock market analyst at AJ Bell, says that this medical devices group could be particularly difficult to offload. Regardless of the outcome of that case, the dispute looks unlikely to end any time soon, and the share price hasn’t recovered since. This leaves the liquidators with a difficult task on their hands when it comes to getting a good price for the stock – of which Woodford owns 9.4 per cent. For all of the companies mentioned, Woodford has more than a five per cent stake. Katherine Denham Of all the small-cap stocks in the Equity Income fund, biotech firm Hvivo has been by far the worst performer in terms of share price in the past 12 months, plummeting by 67.7 per cent. The good, the bad, and the ugly Woodford’s allocation to biotech companies has really done him no favours, with three stocks in this sector topping the bad performance list over the past year. In August, the haulage company – of which Woodford has a 22.89 per cent stake – was mired in an accounting scandal, which led to the resignation of its chief executive and the temporary suspension of its shares. One particularly worrying aspect about Purplebricks is that Woodford holds this company in another of his funds, the £300m Income Focus vehicle, which is also set to be wound up. But things didn’t work out that well for King Midas in the end, and the same can be said for the former star manager, whose reputation is in tatters and whose investment empire now set to close. Other biotech names like Synairgen (sixth place), Sensyne Health (eighth), and Arix Bioscience (tenth) also appear in the list. Another poor performing company that Woodford is exposed to across two of his beleaguered funds is Eddie Stobart Logistics. It’s the seventh worst performing stock, having fallen 45.5 per cent in a year. It has also dropped by 13.4 per cent since the Equity Income fund suspended. Wednesday 23 October 2019 6:55 am “Generalist fund managers often shun that sector because they feel you need a science degree to make any sense of a company, and model its future earnings potential,” he explains. “That greatly narrows the pool of potential buyers, which means it could take longer to offload any biotech holdings.” The analyst also warns that this leaves the ball in the potential buyer’s court, as third-party investors know that there is limited competition for the stock and can demand a discounted price. But it’s not just the biotech sector where you find poor performing shares held by Woodford. Purplebricks has also suffered over the past 12 months, falling by 53 per cent. Here, with help from AJ Bell, we look at some of the small companies that raise a red flag – whether in terms of performance, liquidity, sector, profitability of the underlying business, or overlap with Woodford’s other funds. Coatsworth says that Purplebricks will be easier to sell compared to biotech firms, pointing out that the 15.5 per cent stake might be of interest to German media group Axel Springer, which already owns 26.6 per cent of the business. “Buying Woodford’s full stake would trigger a mandatory takeover offer, as Axel Springer would go over the 29.9 per cent threshold,” he adds. Biotech bets Think Logistically Individual companies aside, Woodford’s decision to allocate so extensively to this sector was worrying. Indeed, Coatsworth says biotech is such a specialist area that it can be difficult to find buyers. The Muddy Waters dispute The online estate agent has had a bad run, having cut its revenue forecasts and made a loss in the 2018-19 tax year. It also decided to withdraw from the US market. However, since the start of June, its share price has climbed by 6.4 per cent. Another biotech company, Midatech Pharma, is the second worst performer over the past year, with its share price falling by 65 per cent. While the firm reduced its loss compared to the previous year, it was still down £4.42m for the six months to 30 June 2019. Burford Capital has been the worst performing stock since the fund suspended, with the share price sinking by 50.2 per cent since June. The litigation financer has also done poorly for the year, falling by 52.4 per cent. In August, Burford came under attack by US short-seller Muddy Waters, which sent the share price of the company into a tailspin. But the problems don’t end there, as a profit warning for the company was issued last month, saying earnings for this year will be below expectations. Muddy Waters said that Burford was a “poor business masquerading as a great one” and criticised its accounting practices. Burford has now gone to the High Court to ask the London Stock Exchange to disclose the identities of those involved, after claiming it was the subject of market manipulation. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. A string of other names, including Redde, Allied Minds, and Provident Financial have also caused the performance of Woodford’s fund to deteriorate. All these stocks are held across at least two of Woodford’s funds. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily Funnybonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyPost Fun25 Worst Movies Ever, According To Rotten TomatoesPost FunPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryBetterBe20 Stunning Female AthletesBetterBezenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comMisterStoryWoman files for divorce after seeing this photoMisterStory The man with the Midas touch. That was how people saw Neil Woodford only a few short years ago. However, it’s not all bad, as a few investments have paid off over the past 12 months. For example, Crest Nicholson is the best performer, having jumped 41.6 per cent, Countryside Properties is up by 21.9 per cent, and PayPoint has increased by 6.1 per cent. Hitting a Purplebrick wall While it’s impossible for stockpickers to make the right calls all the time, Woodford increasingly moved into riskier stocks, and very few of these recent bets paid off. His flagship fund, which held £3.1bn assets on 31 August, has underperformed since 2017, and he put investors’ money on the line by having an excessive allocation to early-stage companies. With the fund’s wind-up, BlackRock and Park Hill have been given the difficult task of selling off these assets. Let’s take a closer look at Neil Woodford’s dubious investment decisions