Goldman Sachs backs digital wealth manager Nutmeg January 22, 2019 Goldman Sachs has taken a stake in digital wealth manager Nutmeg as part of a £45m funding round. The round was co-led by Goldman Sach’s Principal Strategic Investments Group, which invests in “fast-growing technology companies”. Read more: Goldman Sachs launches UK consumer bank Hong Kong financial advisory firm Convoy, which is an existing investor, also upped [...]
Spreadbetter IG’s share price drops as profit and revenue fall following new regulations January 22, 2019 Online trading company IG reported an 18 per cent drop in profits today following a European-wide crackdown on spreadbetting last year. The figures Operating profit fell to £112.5m in the six months to the end of November last year, the spreadbetter said today, down from £136.5m for the same period of 2017. Read more: Trading platform [...]
Ex-Janus Henderson boss Andrew Formica to replace Jupiter Fund Management chief executive Maarten Slendebroek January 22, 2019 The chief executive of Jupiter Fund Management Maarten Slendebroek is to step down earlier than expected to be replaced by former Janus Henderson boss Andrew Formica. Jupiter’s board had already decided to replace Slendebroek within the next two years, however they brought the date forward to March this year due to Formica’s availability. Read more: Jupiter [...]
Scammers cost savers £202m in blow to pension pots January 21, 2019 More than 3,000 savers have lost a combined £202m to pension scammers in recent years, whose companies were later shut down by the government. The Insolvency Service warned investors today to guard their pension savings from investment scammers and negligent trustees, after it applied to the courts to wind up 24 companies that have carried out a [...]
Fears mount over potential mis-selling of ESG products January 21, 2019 Fears are growing over the potential mis-selling of environmental, social and governance (ESG) products, a new report has shown. Almost all – 97 per cent – of the independent and restricted financial advisors surveyed said they are either “very concerned” or “fairly concerned” about ESG mis-selling, as the popularity of the products increases among investors. Read [...]
29 reasons not to invest in the stock market January 21, 2019 | City Talk Wars, disasters, economic strife and political instability have been persistent themes over the last three decades and they can affect people’s attitude towards investing. In many cases they make an already tough decision to part with your money and invest even harder, leading some to not invest at all. Behavioural scientists have a name for [...]
UK dividends hit record-breaking high in 2018 January 21, 2019 UK dividend payments rose to a record £99.8bn last year driven by rising profits and better than expected special dividends. British American Tobacco accounted for almost one fifth of the increase in UK dividends as it paid out an additional £900m over the course of 2018, entering the UK top five for the first time, according [...]
Lloyds Bank suffers IT outage as customers struggle to send and receive money January 18, 2019 Thousands of Lloyds Bank customers were unable to make payments this afternoon after the bank experienced an IT outage. Customers complained of difficulties transferring money from their accounts due to issues related to the lender's Faster Payments system, which allows customers to send and receive payments by internet or phone. "We are aware that some customers [...]
The stock markets that look ‘cheap’ at the start of 2019 January 18, 2019 | City Talk 2018 was a rumbustious year for stock markets, with things really coming to the fore in harrowing fashion in the latter stages. With investors having grown accustomed to an unusual oasis of calm over recent years, volatility was back with a bang. However, as the dust settles, there is a silver lining. Even before the [...]
Vanguard founder and ‘father of indexing’ John Bogle dies aged 89 January 17, 2019 Vanguard Group founder and the “father of indexing” John Bogle has died at the age of 89, the company confirmed today. A pioneer of low-cost investing, Bogle formed Vanguard – which he described as the “Vanguard Experiment” – in 1975 and launched its first index mutual fund a year later, despite backlash from the rest [...]
