Savings sector to seek more flexibility

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Savings sector to seek more flexibility

Savings sector to seek more flexibility
It is reported that Britain’s savings industry is likely to press for a much looser regulatory regime if the government proceeds with ideas that lead to the creation of large, low-cost pension savings providers that also offer incomes in retirement.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 2

The pensioners losing out on thousands as savings rates fall
More than 800,000 pensioners have seen the income from their savings drop by an average £2,400 in the past year because of falling rates on investments.
The Daily Telegraph, p. 12

Pensions industry in line for shake-up
Proposals to radically reshape the private pensions industry are being drawn up which could see big companies come together to create a pooled fund that could ensure a more generous retirement income.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 2

Bondholders share the pain of ‘bail-in’ at Co-op Bank
The Co-operative Bank is preparing to announce further losses within weeks after regulators approved the first ever “bail-in” deal, under which investors rather than taxpayers meet the cost of rescuing the bank.
The Times, p. 35
Also appeared in : The Guardian, p.24, Evening Standard London, p.42-43, The Times, p.36, The Guardian, p.24-25

ECB fears renewed euro crisis as governments slow down reform
The Eurozone crisis could return with a vengeance if governments keep stalling and putting off vital economic reforms, European Central Bank (ECB) official Jorg Asmussen warned yesterday.
City AM London, p. 5

Banks fear rise of cyber criminals
The Bank of England’s twice-yearly systemic risk poll has found a growing number of respondents, mostly risk managers in financial businesses, viewed cyber crime as the key threat to their bank.
This abstract from the Financial Times was produced by Kantar Media
Financial Times, p. 2

€10bn Axa loan push for big projects
Axa is planning to lend €10bn to infrastructure projects in the next five years, signalling that insurance companies are moving to fill the funding gap created by banks.
This abstract from the Financial Times was produced by Kantar Media
Financial Times Companies and Markets, p. 18

City sees lowest risk of fresh turmoil since 2008, says Bank
A Bank of England survey found that risk managers at British banks, insurers and investment firms believe the chance of a fresh financial crisis over the next three years has fallen to its lowest level since 2008.
The Daily Telegraph Business, p. 4

Co-op Bank may be nationalised if investors reject rescue plan
The Co-op Bank could be nationalised if investors do not sign up to a £1.5bn aimed at closing a capital shortfall.
The Daily Telegraph Business, p. 1

Call to block the ‘culpable’ chief who moved to M&S
Questions have been raised about the suitability of Neville Richardson, the Co-op Bank’s former chief executive, to be a main board director of Marks & Spencer Bank.
The Times, p. 35

Co-op Bank set for share listing to plug £1.5bn black hole
The Co-operative Bank is going public, listing shares on the stock market to plug a £1.5bn black hole in its balance sheet.
The Independent, p. 50

The above articles appeared on 18/06/13 reproduced with the kind permission of Kantar Media UK. All rights reserved.

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