Buying spree by landlords 'traps tenants'

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Buying spree by landlords ‘traps tenants’

Buying spree by landlords ‘traps tenants’
According to a forecast by Britain’s biggest property website, buy-to-let landlords will embark on a home buying spree in 2013 while young adults and families remain trapped in rental properties, according to a forecast by Britain’s biggest property website.
The Guardian, p. 17

‘Black hole’ of public sector pensions
Experts from the Centre for Policy Studies have warned that the cost of public sector pensions could rise up to £1,600 per year per household within the next decade because the Government has underestimated the expense of its reforms.
The Daily Telegraph, p. 1

US pension funds sue BlackRock
News analysis on how BlackRock, the world’s largest asset manager, has systematically “looted” securities lending revenues from investors, according to a lawsuit filed by two US pension funds.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 1

10 London boroughs worth more than all the property in Wales, Scotland and Northern Ireland
Research shows that the net value of properties in just 10 London boroughs – Westminster, Kensington & Chelsea, Wandsworth, Barnet, Camden, Richmond, Ealing, Bromley, Hammersmith & Fulham and Lambeth – now outstrips the worth of all the properties in Wales, Northern Ireland and Scotland combined.
The Independent, p. 2-3
Also appeared in : Independent i, p.9

Bonuses and Libor scandal won’t go away as banks face the music again
Bank bosses face a grilling from parliamentarians on the banking standards commission this week as the industry braces for another reputational hit from the Libor-rigging scandal and amid further management upheaval at Barclays. António Horta-Osório, chief executive of bailed-out Lloyds Banking Group, is expected to be questioned today about whether he should pocket a potential £2.5m bonus after Friday’s news that Barclays boss Antony Jenkins has waived his mooted £1m bonus.
The Guardian, p. 17

Barclays finance boss goes
Barclays bank has confirmed that its finance director Chris Lucas will retire, as will Mark Harding, the lender’s general counsel. The provider is currently under investigation by the Financial Services Authority over a £7bn capital-raising in 2008 that saw Qatari investors support the bank.
The Daily Telegraph Business, p. 1-3
Also appeared in : Financial Times, p.1, The Independent, p.47, The Times, p.29, Financial Times, p.1, Independent i, p.40

RBS to cut bonuses after US Libor fine
The Royal Bank of Scotland is to recover the cost of its forecast £300m US fine over the Libor scandal – from staff bonuses, after the Chancellor George Osborne intervened.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 2

RBS head Hester to remain in post
Royal Bank of Scotland has moved to calm investor fears over the future of its chief executive Stephen Hester, as chairman Sir Philip Hampton promised shareholders Mr Hester will stay well into next year.
Independent i, p. 42

Banks prepare to flick switch on special offers that attract customers
New rules making it easier to switch current account providers will unleash a wave of new products and offers from banks this September, according to the man charged with bringing in the new regime.
The Times, p. 35
Also appeared in : The Independent, p.1-3, Independent i, p.4

Osborne’s volte-face gives break-up powers to the Bank of England
It has emerged that the Chancellor has made a surprise U-turn over banking reform and will hand powers to the Bank of England that allow it to break up banks that flout rules over ring-fencing. In a speech today at JP Morgan’s offices in Bournemouth, George Osborne is expected to accept the recommendations of the Parliamentary Banking Commission, chaired by Andrew Tyrie, to “electrify” the barrier between banks’ high street operations and more risky investment activities.
The Times, p. 29
Also appeared in : Financial Times, p.1, Financial Times, p.2, Independent i, p.42, The Daily Telegraph Business, p.1, The Guardian, p.1, Financial Times, p.2

Item Club predicts modest rise in lending this year
The Ernst & Young Item Club forecasts a challenging year for the insurance sector, with the slowdown in car ownership likely to hold back growth in premiums.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 4

Europe’s bankers face 20% bonus cut
European investment banks are set to cut their bonus pools in the coming weeks by 20 per cent in a move that will exacerbate the pay gap with their US rivals.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 17
Also appeared in : Independent i, p.42

‘Tobin tax’ push causes dismay
The European Commission appears determined to press ahead with a Europe-wide financial transaction tax despite warnings that it threatens the existence of Europe’s €1tn money market funds industry.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 2

The eurozone crisis is not finished – far from it
Wolfgang Münchau comments on France and Germany proposing measures to ring-fence banks’ proprietary trading activities.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 11
Also appeared in : Financial Times, p.10

Institutions warn India it needs urgent reforms
In separate interviews for the Financial Times, Jin-Yong Cai of the International Finance Corporation and Haruhiko Kuroda of the Asian Development Bank have criticised India’s banking system.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 6

Big themes for this year’s new crop of funds
Analysis looking at how although 2012 was a good year for asset management, pressure on profitability will inevitably increase as the raft of planned EU regulations take effect.
This abstract from the Financial Times was produced by Kantar Media
Financial Times FT fm, p. 6

More power for E.C.B. spells danger
When governments in the euro zone agreed last year to give the European Central Bank the power to supervise their banks, that looked like another victory for Mario Draghi, president of the central bank.
International Herald Tribune, p. 20

Watchdog has left door open on interest-rate swap cases
Comment on the announcement by the Financial Services Authority that tens of thousands of small businesses have been mis-sold interest-rate swaps by the banks.
The Independent, p. 50

You can invest, save tax, profit and still be part of the Big Society
Under plans being developed by Big Society Capital, small investors could get the opportunity to invest in tax-free Isas directed towards social causes by the end of the year. The government-sponsored fund, established in April to finance charitable and community enterprises, believes that it could double its seed capital of £600 million by offering taxfree investment products to the public.
The Times, p. 35

The above articles appeared on 04/02/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

Charterbridge Private Financial Planning, Independent Financial Advice, Thornbury, Bristol.