October 29, 2013
The back story of the most recent Wall Street scandal is as follows: In October 2011,Â the Federal Reserve Bank of New York hired a senior examiner, namely Carmen M. Segarra, to review the Legal and Compliance Division of Goldman Sachs.
As her audit proceeded, Segarra concluded that Goldman Sachs had failed to address conflicts of interest when advising clients. The patchwork of policies that Goldman Sachs allegedly had in place was pointless and fell short of the Fed’s requirements.
Moreover, Segarra later found that Goldman Sachs fabricated information about performing due diligence on a number of transactions. Continue Reading »
October 3, 2013
The Investec Hot 100 is turning up the heat this year. Perhaps most startling is the widening of the north-south divide, with even more of the UKâ€™s fastest-growing companies based on their average growth in profitable sales coming from the south east of England.
The top spot is taken by a social enterprise, Potensial, which supports adults with learning difficulties. It was founded in 1989 by the married couple John and Rachel Farragher, who now own 42 care homes throughout the north of England and Wales. In the last four years their profits have gone from Â£169,000 to Â£2.4 million.
Continue Reading »
September 2, 2013
RBS, HSBC, Lloyds and Barclays have announced that they will employ just over 600k people worldwide by the end of 2013, however, this is a sign of the times since this is 24% less than their peak in 2008 â€“ just 5 years ago.
Due to the European debt crisis, investors are increasing the pressure on banks to reduce fixed costs as they continue to post lower revenue rates each year. Recently the banks went through a phase of making bigger, more significant redundancies, but these new figures show that this phase has not quite finished yet.
The drive behind such redundancies is, Continue Reading »
August 14, 2013
With todayâ€™s low interest rates, putting your money in a savings account isnâ€™t the most inspiring investment. Itâ€™s safe, but with such low interest rates, you could much make better returns by building up your own investment portfolio, and with little more risk.
You have the chance to make your money work harder, creating greater returns than crawling along in low single digits with your bank. By following the advice below, you will be on the way to creating a reliable investment plan which is insulated from many of the risks associated with investing in stocks and shares.
Continue Reading »
August 7, 2013
The government appears to have paid attention to all those Donal MacIntyre undercover shows and drafted legislation to deal with pressure sellers and other sales sharks. You know the people. Door to door salesmen, timeshare hawkers and insurance men who make misleading claims and bully people into signing expensive contracts for things they donâ€™t actually want or need. Continue Reading »
July 25, 2013
Great news for home owners and Daily Mail headline writers. Not so promising for those who havenâ€™t already got their foot on the housing ladder. UK house prices are expected to rise over the summer, with the highest consumer confidence in a decade and a half.
Over the next year it is expected that house prices will rise on average 1.5 per cent. On this trajectory, a house worth Â£400,000 will be valued at Â£406,000 this time next year. Â This is all according to consumer confidence studies by the Royal Institute of Chartered Surveyors, viewed as one of the most reliable predictors of future trends in the housing market.
Continue Reading »
July 1, 2013
The Archbishop of Canterburyâ€™s announcement that he plans to start a credit union contradicts the Bible, which condemns â€˜money lenders in the templeâ€™. But as a means of curbing the power of payday lenders, the Church of Englandâ€™s decision to cross over into the financial services industry may be a fine display of pragmatism from a church increasingly accused of being out of touch with a society blighted by financial woe. Continue Reading »
June 27, 2013
Not having to deal with banks ever again is certainly something weâ€™d all like to achieve. So if youâ€™re considering alternative forms of credit, peer-to-peer lending schemes certainly look appealing. But firms such as Zopa, which match peopleâ€™s savings with those looking to borrow, arenâ€™t for everyone.
By far the biggest drawback â€“ although some would call it a strength â€“ is that the majority of people who apply for a P2P loan are turned down. This is to minimise the number of bad loans and defaults on their books, which is no bad thing, but it also means only people with a tip-top credit score are eligible. Continue Reading »
June 17, 2013
When French president Francois Hollande declared the Eurozone debt crisis over this weekend, did he know what he was talking about?
Speaking to Japanese business leaders, Hollande tried to allay the fears of his audience by stating that the eurozone is now stronger after the crisis. He pointed to increased stability and solidarity among European states, despite riots in Greece and Spain, and climbing unemployment elsewhere. In his own backyard, President Hollande is presiding over the highest French unemployment in 15 years. Continue Reading »
June 10, 2013
The current economical climate is struggling and itâ€™s not the residents who have to tighten their purse strings, the countries themselves are struggling to cope with their increasing levels of debt.
Within the Euro zone, there have been multiple stories flying around about different countries bailing out others at the cost of the common taxpayer; however this is not always the case. Northern Euro zone taxpayers wonâ€™t have actually contributed to any bailout. Countries such as Germany and Finland have managed to save billions of Euros by reviewing how they manage their money in the financial markets. Continue Reading »