Grimsby-born inventor Shaun Pulfrey may have failed to impress BBC Dragons’ Den with his tangle-taming hair invention, but that did not prevent him from succeeding. This inspired him to research and develop a detangling hair tool, the Tangle Teezer. What did Pulfrey learn from his Dragon’s Den experience?
It is widely expected the US central bank – the Federal Reserve will raise interest rates. What impact will the Fed’s decision have for the UK? On March 10th, the US Labor Department said the unemployment rate fell 4.7%, and wages grew 2.8% from February 2016. The 235,000 increase followed a 238,000 rise in January that was more than previously estimated, in fact it was the best back-to-back rise since July.
The first minister of Scotland Nicola Sturgeon has called for another Scottish referendum which could see trade worsen and further uncertainty in the oil price and sterling. As if the UK doesn’t have enough on its plate already negotiating a good Brexit deal. Sturgeon believes she is making a move to protect Scotland’s own interests. Analysts warn there are a number of important factors for Sturgeon to consider, before holding a second referendum which could backfire considering Scotland is at the mercy of the oil price.
The UK biotech and healthcare industry is to experience a pick-up in a post-Brexit environment, say analysts. Adrian Lowcock investment director at Architas believes the sector is considered attractive for long term investors. Lowcock says: “This is cheaper than doing the R&D themselves as they only have to buy those companies which have potential.
Martin Gilbert, the co-founder and chief executive of Aberdeen Asset Management has the confidence Prime Minister Theresa May will negotiate a good [Brexit] departure deal for the UK. Speaking at the Association on Investment Companies (AIC) conference in London [on March 9th] Gilbert says he has met the Prime Minister on three occasions and is confident that she will “negotiate well” on Brexit. May has been busy meeting with key players in the asset management industry such as Martin Gilbert, Schroders chief executive Peter Harrison and Barclays chief executive Jes Staley.
“I have three children, a fantastic husband who is based at home working for a technology company and that works particularly well as I live in Derbyshire,” Field explains. It is also important to “ground yourself”, Field says, and every now and then she takes time out of the City heading to Derbyshire to breath in the country air. The WMA holds a regular Women in Wealth Networking Reception which is designed for women to be inspired and included in on discussions, giving women access to the UK’s top wealth management professionals.
SCM Direct the investment management group founded by Alan Miller and Brexit challenger Gina Miller are accusing the UK fund management industry of price fixing. The UK fund management industry has £5.7 trillion assets under management (AUM) at the end of 2015 according to the Investment Association. What is the evidence of price fixing? SCM Direct researched 683 funds with a combined assets under management of £320.5 billion and found there to be no price competition. Findings show around 73% of actively managed equity funds charge an identical annual management charge of 0. ...
Chancellor Philip Hammond has announced £270 million will be spent to help fund sectors such as STEM education, driverless cars, PhDs and greater digitalisation. The fund, known as the Industrial Strategy Challenge Fund, will intend to foster partnerships between business and the UK’s science sector. In its Budget document, the government said it has ambitions to support Britain continue its position “at the forefront of the global technology revolution” by investing in “cutting-edge technology and innovation”.
What is a dividend allowance? Les Cameron, head of technical at Prudential, says: “The previous dividend allowance of £5,000 allowed investors to hold around £150,000 of equity-based portfolios tax free.
Chancellor of the Exchequer Philip Hammond delivered his first Spring Budget on March 8th. The Chancellor announced the Office for Budget Responsibility (OBR) upgraded growth expectations to 2% for 2017 from a previous forecast of 1.4%. According to the OBR, borrowing for 2016-17 will be at £51.7 billion down by £16.4 billion from its November forecast. By 2021-22 the deficit is forecast to fall to £16.8 billion.
The Office for National Statistics (ONS) quarterly M&A report findings show that foreign takeovers of UK companies reached record levels last year. In 2016 the ONS tracked 227 foreign takeovers which is the highest annual number since 2011, worth £187.4 billion, the highest total value since records began in 1969. M&A advisory firm, Livingstone has also released its 2014-2016 Global M&A deals Tracker which breaks down the volume of international M&A deals.
This ISA season the most popular funds have been Fundsmith and Woodford, according to AJ Bell Youinvest data. The fund attracting the most interest is the £9.8 billion Fundsmith Equity fund managed by Terry Smith. Top holdings in the Fundsmith Equity include the US giant Microsoft, Stryker, IDEXX, Paypal, Pepsico, Philip Morris, Unilever, Waters and Johnson & Johnson. AJ Bell reports the second most popular fund is the Woodford Equity Income managed by star fund manager Neil Woodford. ...
Over the years, we have seen the rapid rise in passive management with money flowing out of actively managed funds and into passive funds. Will this trigger more M&A activity in the active asset management industry? The passive versus active management discussion has been ongoing.
President Donald Trump has signed a new executive order replacing his previous travel ban which now excludes Iraq. The first travel ban which was implemented in January 2017 and was introduced with little notice and met with protests and outrage. The updated version states citizens from six countries will be prevented from entering the United States, unless they have previously been granted a visa. Countries include Syria, Sudan, Libya, Somalia, Yemen and Iran. The new ban will take effect from from March 16 and will not apply to green card holders.
The Chancellor of the Exchequer, Philip Hammond will address parliament and make his Spring Budget speech on Wednesday 8th March. The Spring Budget will set out the UK government’s plans for the economy using forecasts from the Office for Budget Responsibility (OBR). It is expected that the Prime Minister Theresa May will trigger Article 50 later this month.
India’s Taj Mahal is one of the wonders of the world but for those who want a more affordable substitute for their one true love, how about a collectors’ lego version? In recent years certain rare Lego sets have also been appreciated greatly in value. The Taj Mahal Lego edition was priced at £199.99 and is now selling for over £1,000.
Most of us will know somebody at some point in our life who has been diagnosed with cancer. Macmillan Cancer Support research has shown that four out of five people with cancer are, on average, £570 a month worse off because of their diagnosis. A cancer diagnosis is typically sudden and unexpected, and people often don’t realise the extent to which their finances are likely to be affected.
Millennial investors are gaining confidence in their ability to invest, and making the most the tax free benefits of an Individual Savings Accounts (ISAs), according to research. Findings show millennials are becoming more savvier and showing more of a willingness to invest. The Share Centre reports there is a 39% increase in the amount of trades made by those aged 18-36 in their ISAs compared to the same period last year.
Neil Woodford has unveiled further details of the new Woodford Income Focus fund to be launched on 20 March. Commenting on the new fund launch Laith Khalaf, senior analyst at Hargreaves Lansdown says: “Woodford Income Focus will tick a lot of boxes for investors seeking an income from their savings in a world where cash and bonds just don’t cut the mustard any more. The fund will reside in the specialist sector in order to afford the manager the flexibility to invest more than 20% in overseas shares if he sees fit (20% being the maximum permitted by the rules of the UK Equity Income sector).
“Markets are expecting a fiscal boost from the new President, which will drive an increase in corporate profitability and earnings – a positive for equity markets, all other things being equal. Burgess explains the consequent rise in bond yields would normally act as some sort of brake on the economy, but because of global quantitative easing it is likely there will be an international bid for yield that will keep a lid on the Treasury market.
For those unfamiliar with Bitcoin, it’s a form of digital currency invented by an unidentified programmer, which is held electronically. Earlier this week the currency experienced a high soaring above $1,100 per coin. Commentators say the currency peaked as investors speculated the US Securities and Exchange Commission will approve a bitcoin-focused exchange-traded funds (ETF) which is being launched by Cameron Winklevoss and Tyler Winklevoss. Bitcoin is still in its early stages and in a volatile state. The currency does not have a accepted index and shares the properties that make it similar to gold.
The annual ISA allowance is £15,240 and runs from April to April the following year. Ben Yearsley, investment director at Wealth Club says: “With the end of the tax year fast approaching, there isn’t much time to organise your financial affairs. Yearsley adds: “£15,240 is a generous allowance that can give tax free growth and income free from any further tax – the ISA could even be IHT free too if invested in an AIM portfolio.
The number of people seeking a pre-nuptial agreement has increased over the years. Recently, Hollywood’s golden couple Angelina Jolie and Brad Pitt split proving more than ever that an iron-clad pre-nuptial agreement is a must, no matter how perfect your relationship may seem at the time of marriage. For those unfamiliar with the term, a pre-nuptial agreement is a contract entered into prior to marriage, civil union or any other agreement by the people intending to marry.
Overseas buyers and British expats without correct advice are finding it increasingly difficult to purchase property in the UK, reveals DeVere Mortgages. Many overseas buyers and British expats are finding it increasingly difficult to buy a property in the UK, reveals independent financial advisory DeVere Mortgages. The observation follows the introduction of new tougher requirements for buy-to-let borrowers year by UK lenders.
British consumers need to be prepared of political events that could hit their finances this year. There are a number of potential political events coming up which consumers should be aware of: from Article 50 being triggered to the elections in France and Germany as well as the developments in the China-US relationship under Trump.