Meggitt shares waver after as it expects more savings in 2016 December 7, 2015 Shares in Meggitt rose this morning, after the aerospace and defence group said that although headwinds it experienced this year will continue into 2016, they will be largely mitigated by cost cutting. Meggitt, which manufactures parts for aerospace, defence and energy companies, expects organic revenue growth to be in the low- to mid-single digits in civil aerospace, civil aftermarket and military. [...]
Australia’s investing millions to create a tech boom as mining declines December 7, 2015 Australia will invest millions in an attempt to create a new tech boom, as mining in the country declines. An AUS$1.1 billion (£534m) package of measures designed to encourage entrepreneurship and new business includes reduced capital gains tax for startups, income tax rebates for retail investors and immigration changes to hire talent. "The mining boom, [...]
UK businesses’ total borrowing against invoices reaches £16bn December 7, 2015 Businesses have borrowed £16bn against unpaid invoices, according to figures released today by the (ABFA) Asset Based Finance Association. Firms have also borrowed £4bn against property, stock, machinery and intellectual property. The total £20bn in asset backed lending is up four cent on this time last year. It is also up from £13.4bn in 2009. [...]
Investors pile on pressure over top HSBC pensions December 6, 2015 HSBC has made good the changes to executive pensions it promised in its last remuneration report, earlier this year. The bank will be cutting pension payments to its top executives from 1 January, bringing it in line with similar FTSE companies. The current arrangement means the banks chief executive, chairman, and two executive directors can [...]
Half of men over 50 will miss out on £572 a year when the new state pension system starts in April December 4, 2015 The new state pension system is not good news for everyone, with around half of men now in their 50s set to receive a lower retirement income under the new system, official analysis shows. Research from the Department of Work and Pensions (DWP) reveals those in their early 50s will lose as much as £11 a week [...]
Crowdfunding platform Funding Circle is the third biggest lender for small businesses in the UK behind only RBS and Lloyds December 3, 2015 Proving the power of crowdfunding, the third biggest lender to UK small businesses isn't a bank or building society but peer-to-peer lending platform Funding Circle. In the three months from July to September, RBS lent £290m to SMEs, Lloyds lent £275m, and Funding Circle came third, having lent £91.5m, ahead of Aldermore, Yorkshire Building Society and Shawbrook. In [...]
Street Feast owner London Union backed by Nigella Lawson and Jamie Oliver crowdfunds millions for expansion December 3, 2015 London Union, the celeb-backed company behind Street Feast, Dinerama and Hawker House co-founded by the creator of Leon restaurants has raised millions of pounds to expand across the city. With the public appetite for street food only rising, it raised £2.5m on crowdfunding site Seedrs, with 160 individuals investing between £5,000 and £200,000. It has also raising a [...]
How to overcome the SME alt fi knowledge gap December 3, 2015 There has been much talk about the dearth of traditional bank loans to SMEs since the credit crunch, with the conventional narrative increasingly detached from reality as market confidence and conditions improve. But this jaded dialogue has disguised another issue: the rapid and seemingly unrelenting decline of the small business overdraft. In fact, a [...]
UK pensions: Self-employed people now less likely to be saving for their retirement December 3, 2015 Just nine per cent of self-employed people contribute to a personal pension, despite a record 4.6m people now being registered as self-employed. According to research released today by Prudential, 34 per cent of self-employed people paid into to a pension in the tax year 2001/02. The total amount saved into pensions by those who are [...]
Less than 10 per cent of savings providers are offering the Help to Buy Isa – with just 12 on board so far December 2, 2015 The Help to Buy Isa launched without much ceremony yesterday – so no wonder the number of savings providers offering the scheme, which provides a government bonus for first-time buyers, is being seen as a bit of a let-down. Research from Savings Champion suggests just 12 lenders have so far go on board with the government scheme, [...]
