Here are five stories clients may have read in the weekend's papers…
Confidence among UK businesses is at the highest level since 1994, according to a survey conducted by Lloyds Bank. The Telegraph reports that forecasts are for higher order numbers, sales and profits over the next six months as businesses become more confident about their ability to secure necessary funding from banks. Investment intentions have also moved to a 19-year high, according to the survey.
Pensions Minister Steve Webb has said that retired workers will be able to ‘shop around' for pension schemes in order to end the ‘lottery' that lead many retirees becoming trapped in poor value schemes. According to the Mail on Sunday, Webb has accused insurance firms of being ‘murky' and insisted practices need to be transparent.
Hedge fund giant George Soros has said that he is most worried about a China slowdown this year, which would mark an end to 20 years of growth. The Guardian reports on Soros' remarks regarding the potential uncertainty China represents. He warns that worrying over the Eurozone should give way to worrying about China since euro area problems have started to plateau while a China slowdown could be fast approaching.
Here are five stories clients may have read in the weekend’s papers…
A survey by Deloitte has found that 49% of finance directors are more positive on the UK's economic outlook since Carney took office as Bank of England Governor six months ago. A poll of 122 finance directors showed that nearly 60% are prepared to take greater risks, according to the Independent.
The cost of declaring oneself bankrupt can actually outweigh the debts which led to insolvency, according to the Financial Times. The paper reports that the Government is preparing to make an announcement later this month as it is concerned that fees from companies which manage bankruptcies are too high. Hourly rates from these firms stand at £800 per hour, according to the department for Business, Innovation & Skills.
What made financial headlines over the weekend?
Q2 net sales dropped almost 50%
‘Important to have an anchor’
Lack of innovation for solutions