Lib Dems plan tax raids on property and pension pots

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Lib Dems plan tax raids on property and pension pots

Pensions & Life Assurance

Lib Dems plan tax raids on property and pension pots
The Liberal Democrats are planning a double election tax raid on the rich with commitments to introduce new levies on property and pension pots in their 2015 manifesto.
Independent i, p. 4

‘Going Dutch’ could increase pensions by 30pc
Workers will be able to increase their pension by up to a third, but may have fewer guarantees about their retirement income under a planned shake-up of the industry. Critics say the collective schemes are riskier and do not offer an income for life.
The Daily Telegraph, p. 4
Also appeared in : City AM London, p.2, The Times, p.28, The Daily Telegraph, p.21, The Times, p.8

Unit & Investment Trusts and OEICS

Canadians make first move in potential F&C bidding war
Managers and staff at F&C Asset Management are set to share up to £47 million after the 145-year-old investment group agreed in principle to a surprise £700 million bid. Its shares soared by 25 per cent to 116½p, with some analysts suggesting that the stock could go higher if the approach sparked a bidding war.
The Times, p. 41
Also appeared in : The Guardian, p.20, The Independent, p.51, Financial Times, p.1, Independent i, p.43, Financial Times Companies and Markets, p.18

Share Dealing Services

Emerging fears
A financial maelstrom has swirled through emerging markets, sending shares and currencies hurtling south and pulling London’s FTSE 100 down in sympathy.
The Times, p. 41
Also appeared in : The Daily Telegraph Business, p.4, The Daily Telegraph Business, p.9, The Times, p.45, Financial Times Companies and Markets, p.32, Financial Times, p.8, Financial Times Companies and Markets, p.17, Financial Times Companies and Markets, p.31, International New York Times, p.14-17, The Guardian, p.19

ICAP deprived of key dollar role in derivatives benchmark
The International Swaps and Derivatives Association has deprived ICAP of its influential role in the setting of the Isdafix interest rate benchmark.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 30

HK regulator suspends bank from advising on share sales
Hong Kong’s regulator has banned a boutique investment bank from advising companies on share sales, following a deluge of problematic listings of Chinese groups.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 20

Retail Banking

Lloyds probes its cashpoint and IT failings
Lloyds Banking Group yesterday launched an investigation into the IT failings that led to thousands of customers losing access to their cash on Sunday.
City AM London, p. 4
Also appeared in : Financial Times, p.2

HSBC apologises for restricting clients’ access to cash
The British bank HSBC has apologised following reports that some customers were prevented from withdrawing large sums of cash from their accounts.
International New York Times, p. 16

Bank account complaints jump 155pc
The Financial Ombudsman Service reveals today a 155% increase in customer complaints over paid-for banks accounts in the last nine months to 3,107.
The Daily Telegraph Business, p. 5

Round Up

RBS considers doubling bonuses despite £8bn loss
The Royal Bank of Scotland is considering asking ministers for permission to double bonus payouts for its staff despite revealing that it is facing losses of almost £8 billion. The bank’s losses include £1.9 billion to cover the sale of toxic financial instruments in the US and an extra £465 million for customers mis-sold PPI – payment protection insurance.
The Times, p. 16
Also appeared in : City AM London, p.1, The Times, p.1, The Times, p.37, The Guardian, p.20, The Guardian, p.19, Financial Times, p.1, The Guardian, p.19, The Independent, p.5, International New York Times, p.17, The Daily Telegraph Business, p.1, The Independent, p.49, The Daily Telegraph Business, p.6, Independent i, p.40, Financial Times Companies and Markets, p.18, The Times, p.41

Banks’ high costs ‘discriminate against small firms’
Lord Young of Graffham, the Prime Minister’s adviser on enterprise, has thrown into question claims by the country’s biggest banks that they are ready and willing to lend money to small and medium-sized businesses. His view contrasts with the British Bankers’ Association and the big banks, who last week launched a campaign to persuade businesses that finance was easier to obtain than they might believe.
The Times, p. 38

Bank ties to shady lenders under review
Federal prosecutors are trying to thwart the easy access that predatory lenders and dubious online merchants have to Americans’ bank accounts by going after banks that fail to meet their obligations as gatekeepers to the United States financial system.
International New York Times, p. 16

Small and medium-sized businesses can […]
Small and medium-sized businesses can choose when to release funds and how much interest they want to pay after the launch of a pioneering savings product from a new bank, Aldermore.
The Times, p. 38

Life sentence for banker over theft
A former banker at a state-owned Vietnamese bank was sentenced to life imprisonment yesterday for masterminding a scam that swindled customers of $190m (£115m) in the country’s highest-value bank fraud case.
Independent i, p. 26

Banco Popolare cash call hits peers
Banco Popolare has announced a rights issue of at least €1.5bn in an effort to boost its capital ahead of European stress tests.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 21

Brussels presses US on bank rules
The EU is trying to include financial regulation in a trade pact with the US, arguing that leaving it out would represent a threat to global financial stability.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 6

UK opposes Draghi role at watchdog
The UK Treasury is reportedly pushing for Mario Draghi to be stripped of his automatic right to head Europe’s top financial risk watchdog.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 8

Frankfurt prefers tax on wealth to a bailout
The German central bank has proposed that Eurozone governments facing bankruptcy should impose a one-off wealth tax on their citizens.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 8

Banks back charity to help recruit disadvantaged
Under a new scheme, thousands of teenagers from low-income backgrounds will be encouraged to consider a career in banking.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 4

ECB policy ‘risks leaving the economy struggling’, says Caterpillar
Machinery maker Caterpillar has attacked the ECB for cautious policies that could hamper the Eurozone’s potential recovery.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 21

A good shepherd for Europe’s revival
Comment on how the ECB should do more to stave off the risk of deflation.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 12

The above articles appeared on 28.01.2014. Reproduced with the kind permission of Kantar Media UK. All rights reserved.

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