Pensions poverty for 45-54 age group


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Pensions poverty for 45-54 age group

Pensions poverty for 45-54 age group
A new report warns that Britain’s nine million 45 to 54-year-olds are most at risk of poverty in retirement. This generation is the most financially squeezed in the land, burdened by bills and saving the least out of all other age groups. Nearly half have dependent children. More than four out of 10 – 43 per cent – claim they cannot afford to save anything, according to the Investor Pulse survey by investment managers BlackRock.
Daily Express, p. 8
Also appeared in : City AM London, p.2

Pension lifeboat fund at £14.8bn
The Pension Protection Fund, which takes on final salary schemes from companies that collapse, had surplus assets of £1.8bn over its liabilities at the end of March, com¬ pared to £1.07bn in 2012.
The Independent, p. 52
Also appeared in : Financial Times, p.4

London can be a great capital of Islamic finance, says Cameron
David Cameron is to today announce Treasury plans to create a £200m Islamic bond by early next year, which will coincide with a planned LSE Islamic Market Index. “I want London to stand alongside Dubai as one of the great capitals of Islamic finance anywhere in the world”, the Prime Minister will tell the World Islamic Economic Forum, which is being held in a non-Muslim country for the first time.
The Guardian, p. 8
Also appeared in : Financial Times, p.1, City AM London, p.21, City AM London, p.20-21, The Daily Telegraph Business, p.1, The Independent, p.5

Small property leads growth in house prices
House prices jumped again in September, Land Registry figures showed yesterday, with London leading the way. And by category of property, flats were far and away the biggest riser in the month. The UK as a whole saw prices rise 1.5 per cent in the month and 3.4 per cent on the year to an average of £167,063.
City AM London, p. 5
Also appeared in : Evening Standard London, p.8, The Guardian, p.23, Daily Express, p.9

Lloyds earmarks another £700m for PPI payouts
The state-backed bank, Lloyds Banking Group, faces further embarrassment today as it sets aside hundreds of millions of pounds more for customers who were mis-sold payment protection insurance (PPI).
The Times, p. 11
Also appeared in : City AM London, p.2, The Daily Telegraph Business, p.1

Troubled loans at Europe’s banks double in value
A report by PwC has found that European banks’ non-performing loans have doubled in just four years to reach close to €1.2tn and are expected to keep rising.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 6
Also appeared in : Daily Mail, p.63, The Times, p.35, City AM London, p.4

ECB official says Eurozone is out of danger zone
The Euro area is out of the danger zone, but to prosper it must restructure its financial sector, foster growth with new business models and avoid protectionism, a top European Central Bank (ECB) policymaker said yesterday. In a speech to the Asia Europe Economic Forum in Beijing, which was entitled Lessons from East Asia for the euro area, Benoit Coeure said the European bloc was at a crossroads.
City AM London, p. 9
Also appeared in : Evening Standard London, p.41

IMF bailout looms for Slovenia
The International Monetary Fund has urged Slovenia to recapitalise its banks amid fears that it was close to becoming the fifth eurozone country to require a multi-billion-euro bailout.
The Times, p. 40
Also appeared in : The Guardian, p.29

Denmark’s central bank declares financial crisis over
Denmark’s central bank has announced that it can now afford to cut staffing levels by 10 per cent as it no longer needs to be on such high alert.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 6

Eurozone budget leniency criticised
Eurozone countries should only be allowed more time to bring wayward budgets into line if they agree to EU-recommended reforms, the Dutch finance minister, Jeroen Dijsselbloem, has warned
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 6

Moody’s warns on US bank lending
US based regional banks have sharply increased their corporate lending at the expense of underwriting standards and loan pricing, Moody’s has warned.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 32

Sell off makes emerging nation bonds attractive
The reaction of emerging market assets to the prospect of quantitative easing tapering has brought back memories of the Asian crisis in 1997, writes Andreas Utermann, co-head and global chief investment officer, at Allianz Global Investors.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 32

Pay plea for banking regulators
Jean-Claude Trichet, the former president of the European Central Bank, has called on regulators and bank boards to develop a closer, more trusting relationship to stave off the risk of another financial crisis.
The Guardian, p. 25

Dutch bank set to learn fate for involvement in Libor scandal
Rabobank is expected to be told yesterday that it faces fines of more than £600m as a consequence of attempting to rig Libor.
The Guardian, p. 23

Hacking gang focused on British banks
One of the world’s most sophisticated gangs of financial cybercriminals is focusing nearly all its energy on British banks and their customers, a leading cybercrime consultancy has warned.
The Times, p. 37

Mizuho boss quits over loans to Japan’s crime gangs
Takashi Tsukamoto, the chairman of Mizuho has announced that he will resign from Japan’s second-biggest bank after admitting that he and other board members knew of hundreds of loans made to organised crime gangs.
The Times, p. 41

Banks too scared to be honest with regulators
Banks are wary of being honest with the authorities for fear of immediate reprisals, Barclays’ chairman said yesterday, warning that relationships between lenders and supervisors have broken down dangerously.
City AM London, p. 3

No G4S break-up as £1.6bn bid for cash arm rejected
G4S has rejected a £1.55 billion bid for its cash handling and management division from private equity group Charterhouse. G4S today said the Charterhouse offer was “highly opportunistic”, and that its board “believes the conditional offer fundamentally undervalues the business and its prospects”.
Evening Standard London, p. 37
Also appeared in : Daily Express, p.58, The Guardian, p.25, The Times, p.40, The Independent, p.49

The above articles appeared on 29/10/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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