Source: http://feedproxy.google.com/~r/BMADailyFeed/~3/vK1mMFuyHuM/ATHN-8L8KBU
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Wednesday, 31 August 2011
Medical academics demand recognition
Universities must acknowledge clinical work when assessing their performance, BMA warns
Pas Mantab : Sabtu 27-03-2010 # 3
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Source: http://www.illhealthretirement.info/pas-mantab-sabtu-27-03-2010-3/
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No deal for Endemol at ITV's expense
Amy Childs may be a hit on Big Brother, but that doesn't mean that Endemol is worth ITV wasting a penny on
No deal. No way actually. Endemol has been a problem, since the moment banks started going bust. It's not the telly of course - and we'll be back to Darryn Lyons and those abs in a moment - but the debt. Crushed by ?2bn of borrowings, taken on a combination of Goldman Sachs, founder John de Mol and Mediaset, which is owned by Slivio Berlusconi, it hasn't got a chance of keeping its lenders happy. (Note: with this business track record, would you let Berlusconi run a country).
Endemol earned about ?140m last year on the earnings before interest, depreciation, amortisation, taxation measure used by bankers, and it'll make a bit more this year, largely due to the Big Brother, Channel 5 deal. Trouble is that if you were lending to Endemol today, you'd only let it have 3 or 4 times EBITDA, that is up to ?600m. Production companies don't have a great cashflow either, so even that might be a stretch. And it's way less than the ?2bn or so currently on the books. But that's greed for you.
The first problem, then, is to restructure the debt. No sane outside investor would want to get involved before, and even if there was some interest from the likes of ITV, you wouldn't telegraph that now. It would only make the restructuring more complex. Endemol doesn't need capital, although of course the three shareholders could inject money into the business if they wanted to up their stake in the reconstituted company. But with the trio holding about half the debt already (a mixture of dumb banks and sharp hedge funds share the debt) they are just about in control in the corporate remake.
There's also the problem of what Endemol is worth after all this is over. Optimists like to point out that Shine Television went for about 12 times EBITDA. That would make Endemol worth ?1.8bn. But that was Rupert Murdoch buying his daughter's business. Don't forget elsewhere, All3Media, has struggled to get bids in much above 10 times all in, so Endemol is more realistically worth ?1.5bn (including debt) in a takeout situation - ?500m less than the face value of its outstanding loans. It may be transfer deadline day, but with an unimpressive pound-euro exchange rate, for ITV that is a lot of money.
ITV's problem, other than the chronic lack of summer hits, is that it isn't quite as big as you think it is. Endemol, in sterling, might cost �1.3bn - which compares to ITV's market value of �2.4bn. A free to air broadcaster is not the kind of business that can support much debt when advertising turns down, because its costs (TV programmes) are relatively fixed. Try telling Simon Cowell to take a pay cut. ITV may have very little debt, a clear plus, but because of the risk factor attached to even modest borrowing, it has only just had the confidence to pay a dividend.
In theory the British broadcaster might be able to borrow �800m (twice last year's underlying profits) to support a deal and still look public shareholders in the eye. But advertising is heading south again - this Christmas TV advertising could fall 5% - which means a splashy move would be a Red or Black type of a risk. And even with �800m of debt, there's still be another �500m of equity to find. ITV rights issue to buy Endemol? Well, it's an interesting thought, but it's risky, unproven, and more to the point, somebody with real money, Disney, Warner Brothers, News Corp might get there first.
No wonder, then, that ITV hasn't put out a statement confirming recent speculation that it might be looking at Endemol. Amy Childs or no Amy Childs, Endemol hasn't spruced itself up yet, and even once it recovers from its bombed out state, it is already too big for ITV. Come to think of it, on some nights, the ratings on Channel 5 are outperforming ITV...
guardian.co.uk © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds
Source: http://www.guardian.co.uk/media/2011/aug/31/itv-endemol
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The Weirdest Hotels On Earth
For all you people out there that like something, just that little bit different for your hotel stays, this is the place to be! Have a look at some of these weird and wacky hotels, before you book your hotel … Continue reading
Source: http://www.pensionsuk.info/the-weirdest-hotels-on-earth/
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Junior ISAs
The Government has now published the draft regulations for its Junior ISAs. A brief summary is: Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/ghMjknI7MKs/ ill health retirement the pension service pension release annuity inheritance tax Source: http://www.retirementcalculatoruk.info/junior-isas-3/ stakeholder pensions uk retirement drawdown state pension forecast uk … Continue reading
Source: http://www.pension-release-uk.info/junior-isas/
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A New World check-up
So it’s off to the New World for 2 ½ weeks with a visit to friends and family in Toronto and then on to Arizona and Utah to soak up some of nature’s majesty. Seen through the prism of the Old World’s media, times are just as bad over there as they seem to be over here.
Fundamentally, both worlds are grappling with the same problem – societies that have been living well beyond their means for a generation. Rapidly ageing populations coupled with below-replacement birth rates are leading Europe and the Americas down a trail first blazed by Japan some 20 years ago. The debts for the good times are now due and the coffers are empty.
Even as this process ground on relentlessly, governments everywhere hobbled productivity with unrealistic minimum wages, working-time directives, market-distorting subsidies & taxes, pie-in-the-sky environmental objectives and regulation upon regulation.
An optimistic view would be that a general consensus in most countries of the nature of the problem has taken hold but each country’s response has been different. The first casualty, Iceland, immediately admitted the errors of its ways and just bit the bullet. The EU’s Mediterranean members seemed to be in denial for the longest time in hopes that something will turn up – mostly German money. The EU’s masters – Germany and France – are putting their faith in yet another grand master plan for the European project.
Here in the UK, the consensus on deficit reduction is largely holding with the argument being mostly about speed and depth. The test will come as the modest cuts now in the works actually come into effect over the coming years.
Over in the U.S., the hangover from fighting two wars while spending at home like there’s no tomorrow hasn’t been cured yet. They haven’t even agreed on a course of treatment. In time-honoured American fashion, it’s taken the grass-roots Tea Party movement to grab the politicians by the scruff of the neck to force recognition of the real problem. America usually gets it right in the end but time is running out.
That leaves Canada. From afar, it seems like an oasis of sanity in a tempestuous world. The country went through its fiscal crisis back in the early 1990s and, amazingly, seems to have learned its lesson. The banks are solid and government debt mostly manageable. However, it’s extremely dependent on exports of commodities to America and Asia and, ultimately, its economic fate will be determined in Washington and Beijing.
It’s been a good year for pessimists in the Old World. Let’s see if the New World offers any relief.
Source: http://feedproxy.google.com/~r/TheAdamSmithInstituteBlog/~3/aI7HaNJlxOw/
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Transferring your Pension? 7 key questions
The Financial Services Authority (FSA) are keen to ensure that Pension transfers are wholly justified in terms of being beneficial to the transferor.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/v2wlmc/
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My favourite album: Tunnel of Love by Bruce Springsteen
Guardian and Observer writers are picking their favourite albums ? with a view that you might do the same. Here, Sarfraz Manzoor shares his love for a Bruce Springsteen masterpiece
It was in the autumn of 1987, after a summer soundtracked by Rick Astley and Los Lobos, that I first heard Bruce Springsteen's Tunnel of Love. I was 16 years old and had started sixth-form college and met an avid Springsteen fan whose evangelical zeal persuaded me to give this Bruce character a chance. I quickly become a disciple but Tunnel of Love was not then my favourite Springsteen album. As a teenager thirsting to escape his hometown and fantasising about meeting the girl of my dreams I much preferred the desperate, urgent optimism of Born to Run and the grainy, gritty realism of Darkness on the Edge of Town. What a difference 24 years make: today it's Tunnel of Love that I consider my favourite Springsteen album, and by natural extension, my all-time favourite album.
Tunnel of Love is not Bruce Springsteen's most successful album. It does not throb with youthful passion like Born to Run; it does not attempt to record the state of the nation like Nebraska, The Ghost of Tom Joad and The Rising and it sold a fraction of its predecessor Born in the USA. It is a quiet, often acoustic country-tinged album that has become more important to me the older I have become. Before Tunnel of Love Bruce Springsteen had mostly eschewed writing love songs; his songs were more likely to deal with losing your job than losing your heart. Love, when it appeared, was largely infatuation and painted in the primary colours of youthful yearning. "We'll live with the sadness and I'll love you with all madness in my soul," he sings on the title track of Born to Run. In his early records Springsteen implied that happiness was a girl, a guy and a car; on Tunnel of Love he began to wonder what if the car was heading in the wrong direction. His musical musings appeared to be inspired from personal experience. Springsteen had married actress/model Julianne Phillips in May 1985 after having met her seven months earlier. In the sleeve notes to the record Springsteen writes "Thanks Julie", but listening to the songs it seemed evident all was not well with their marriage; the couple filed for divorce less than a year after the release of the album.
Listening to Tunnel of Love reminds me of what Bob Dylan said about his 1975 record Blood on the Tracks. "A lot of people tell me they enjoy that album," Dylan said. "It's hard for me to relate to that. You know, people enjoying that type of pain." There is a fair amount of pain in Tunnel of Love ? the dull gnawing pain of seeing life stray from the hoped for script. I love how Springsteen's song-writing refuses to trade in certainties; in Cautious Man he sings about a man who "on his right hand (had) tattooed the word love and on his left hand was the word fear/and in which hand he held his fate was never clear". When I first heard the album I was a chronically inexperienced teenager who knew of love only what I gleaned from�the songs of Lionel Richie and Foreigner; it was through listening to Tunnel of Love that I first learned that boy meets girl was the beginning and not the end of the story.
Rock music can sound hopelessly na�ve as one enters adulthood; songs become vehicles for nostalgic time travel. The genius of Tunnel of Love is that its themes have become more pertinent with time; adulthood is after all a process of accepting the absence of absolute certainty and Tunnel of Love is a record riddled with doubt and the impossibility of truly knowing oneself or those to whom we entrust our love: in the words of Brilliant Disguise:�"God have mercy on the man who doubts what he's sure of." I know of no other album that has better captured the messy three dimensional reality of relationships.
In one of the album's finest songs Walk Like a Man Springsteen describes a man preparing to get married. "Would they ever look so happy again the handsome groom and his bride?" he sings "as they stepped into that long black limousine for their mystery ride." It was listening to that song and those lines that last year persuaded my younger sister to change her mind at the last minute and attend my wedding. I have written in the past about the difficulties my wife and I faced when we announced to my family that we were going to get married. My family were opposed to the wedding and were set on not attending. I credit Tunnel of Love for ensuring that my sister and mother attended my wedding and on the day it was Walk like a Man that was playing in the chamber hall of Islington Town Hall as I waited for my future wife to make her entrance. It was fitting that Tunnel of Love found its way into my wedding day: there are not many things from when I was 16 that remain essential and relevant to me today at 40 but that album is both a reminder of my past and a companion for my future. The road to adulthood can be lonely and frightening but I feel less alone and less fearful whenever I hear Tunnel of Love playing in the inky darkness.
? You can write your own review of this record: once you're signed into the Guardian website, visit the album's dedicated page.
Or you could simply star rate it, or add it to one of your album lists. There are more than 3m new pages for you to explore as well as 600,000-plus artists' pages.
Maybe it's a different Boss album that you think is, well, boss. Or perhaps you prefer a more modern take on all things Bruce. Either way, it's time to find those albums and get to work!
guardian.co.uk © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds
Source: http://www.guardian.co.uk/music/musicblog/2011/aug/31/tunnel-love-bruce-springsteen
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Ireland will be 'Celtic Tiger' again - Wilbur Ross
The world's best-known turnaround financier Wilbur Ross says Ireland will be the first of the bailed-out economies to recover
Billionaire investor Wilbur Ross reckons Ireland will the first European nation to recover from the sovereign debt crisis and "will once again become the Celtic Tiger".
His buyout firm, WL Ross and Co, has already staked a claim on Ireland's future fortunes by taking equity in Bank of Ireland along with four other investors, helping it avert full nationalisation.
But his use of the phrase Celtic Tiger may rankle with many who think the moniker symbolises an economy out of control.
Still, he's pretty confident.
"We like Ireland very much because, unlike the Club Med countries, it doesn't need structural reform of the economy," Ross said in an interview with CNBC.
"All it really needs is to get through the financial crisis that was caused when its banks went berserk. But Ireland's fundamentals are still there."
Ireland will once again become the Celtic Tiger."
Ross, 73, said his firm has "great confidence that Ireland's economy; while it's moribund right now, will be the first in Europe to recover because they really hit the bullet".
The "fundamentals" Ross refers to are, he said, its solid communications infrastructure, the low corporate tax and a young, educated workforce.
As an investor in Bank of Ireland, it would be a surprise if Ross thought otherwise ? after all he needs to recoup his investment and more. But he is one of the world's most successful turnaround financiers ? his involvement in the turnaround of over $200bn of distressed assets worldwide has earned him the nickname 'king of bankruptcy'. So his words will be a boost to Ireland's international standing.
In the past few weeks of financial turmoil, Ireland has seen some faith in the international money markets restored, with 10-year bond yields down from 14% in mid-July to around 9%.
Ross also put some clear water between Ireland and the other bailed out countries saying "it may be a little bit too early" to invest in other distressed economies.
"We're actually a good deal more worried about Europe's economy than the US, because it's unclear how the relationship between the European Union, Greece and the other Club Med countries will eventually work out ... There's a lot of turmoil there, and any one of those pieces could produce a severe problem."
Let's hope he is right about Ireland, where the number one public conversation is still personal debt and a growing mortgage arrears crisis.
guardian.co.uk © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds
Source: http://www.guardian.co.uk/business/ireland-business-blog-with-lisa-ocarroll/2011/aug/31/ireland
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A little more conversation
Much has been made in recent weeks of public sector strikes in response to government statements on pensions. I was very surprised to be quoted on the front page of The Times last week and to be criticised by Simon … Continue reading
Source: http://www.retirementcalculatoruk.info/a-little-more-conversation-6/
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New Adviser food for thought
My company has just taken on its first new Independent Financial Adviser (IFA)…hurrah! Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/acxe84/ iht annuity rates stakeholder pensions uk retirement drawdown
Source: http://www.pension-release-uk.info/new-adviser-food-for-thought-6/
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Tuesday, 30 August 2011
The stagnating labour market
I have a post at Left Foot Forward, [...]
Source: http://touchstoneblog.org.uk/2011/08/the-stagnating-labour-market/
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My new blog on tax and pension advice for healthcare professionals
Last Wednesday, I attended the ICAEW accountancy institute Healthcare Seminar of which I am the chairman.
The seminar was even more passionate than usual due to the recent and forthcoming changes to financial legislation for both healthcare professionals and citizens alike.
Over the next few weeks, I will advise on some of the relevant topics covered during the seminar.
These areas will include:
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?Freeheld? documentary ? Oscar winner!
The documentary film “Freeheld,” chronicling Laurel Hester, an Ocean County Detective’s struggle to transfer her pension to her domestic partner, Stacie Andree, has been nominated for an Oscar. The 38-minute film, is nominated in the documentary short subject category. In … Continue reading
Source: http://www.pension-release-uk.info/freeheld-documentary-oscar-winner/
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Counterparty Credit Risk Guidance From Bank Regulators
On June 29, 2011, the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System and the Office of Thrift Supervision issued its latest thinking on derivatives trading by banks. "Interagency Supervisory Guidance on Counterparty Credit Risk Management" considers the role of senior management, methods to measure risk, ways to manage risk and model validation.
Given the increasing number of institutional investors that deploy derivatives - directly or indirectly via third party organizations - for return enhancement or risk minimization purposes, this twenty-six page document is worth a read. Anything that impacts the costs of major derivatives dealers is likely to have a trickle down impact on pensions, endowments, foundations and family offices.
The list below offers a preview of takeaways from the regulators' perspective.
- Assessment of counterparty credit risk models should reflect their "conceptual soundness," along with "an ongoing monitoring process that includes verification of processes and benchmarking; and an outcomes-analysis process that includes backtesting."
- Develop a comprehensive process surrounding bank monitoring of collateral.
- Discuss how to control "wrong-way risk" which occurs "when the exposure to a particular counterparty is positively correlated with the probability of default of the counterparty itself."
- Banks need to regularly measure the "largest counterparty-level impacts across portfolios, material concentrations within segments of a portfolio (such as industries or regions), and relevant portfolio-and counterparty-specific trends."
Pension fund investment committee members can use the guide to draft or add to an existing questionnaire for interviews they conduct with their asset managers, banks and consultants.
Source: http://feeds.lexblog.com/~r/PensionRiskMatters/~3/zH-0vy3DU5o/
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VP Talks Iraq Drawdown
Even as humanitarian relief efforts continue in Haiti, Vice President Joe Biden says preparations are still underway for drawing down combat troops in Iraq. See more DoD videos at dodvclips.milVideo Rating: 5 / 5 Source: http://www.nhspension.info/vp-talks-iraq-drawdown/ stamp duty on shares … Continue reading
Source: http://www.statepensionforecast.info/vp-talks-iraq-drawdown-2/
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The growing financial advice divide
This time last week, I was conscious of an evening appointment to come, having already visited a gentleman in the morning. Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/q7f01q/ state pension forecast uk state pension pension lump sum pension transfer retirement age uk Source: http://www.pensiontransferuk.info/the-growing-financial-advice-divide-3/ stamp … Continue reading
Source: http://www.ukstatepension.info/the-growing-financial-advice-divide-4/
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My new blog on tax and pension advice for healthcare professionals
Last Wednesday, I attended the ICAEW accountancy institute Healthcare Seminar of which I am the chairman.
The seminar was even more passionate than usual due to the recent and forthcoming changes to financial legislation for both healthcare professionals and citizens alike.
Over the next few weeks, I will advise on some of the relevant topics covered during the seminar.
These areas will include:
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Risk Questionnaires are no substitute for intuition
I had an experience on Monday that re-iterated the lack of absolutes in financial planning...and possibly life in general.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/lw47cr/
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TSSA Pensions Champions network
At the beginning of the year the TSSA trained its first wave of Pension Champions. Stimulated by the report made by the Railway Pension Commission and recommendations to move to a career average scheme*, as well as disregarding TSSA recommendations … Continue reading
Source: http://www.pensionscalculator.info/tssa-pensions-champions-network-10/
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Legend of the Seeker S01E16 ? Part 4
Sorry for the delay everyone!!! Source: http://www.annuitycomparison.info/legend-of-the-seeker-s01e16-part-4/ nhs pension pension forecast pensions uk iht annuity rates Source: http://www.pensionforecast.info/legend-of-the-seeker-s01e16-part-4/ retirement calculator annuity calculator pensions advisory service can i retire pensions calculator
Source: http://www.pensionlumpsum.info/legend-of-the-seeker-s01e16-part-4/
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David Starkey is a master of the past, not the present
His views on race and the riots have drawn fierce criticism, but Starkey's books reveal a Britain remote from today's debates
I have been wondering what to do with my David Starkey books. I own three of his works on Tudor history in paperback, and one in hardback ? oh, and a catalogue of an exhibition he curated. Until I heard his remarks on race, Enoch Powell and the riots, I was happy to think of myself as a fan. The day after, I thought about taking all his books to the charity shop. Instead I have put them behind other books. At least I don't have to finish his incredibly long history of Henry VIII's wives.
A large group of academics have written to the Times Higher Academic Supplement, saying that Starkey has proved himself so well out of order that reports should not even call him a "historian" outside his specialist field of the Tudors. The word gives racist remarks a spurious legitimacy.
Is it a good idea to officially denounce him in this way? Doesn't it give a false aura of martyrdom and importance to views that are, in truth, so wide of the national consensus they seem to have spilled out of a parallel universe where Starkey remains stuck in the 1970s? So remote are his views from today's mainstream that it might be healthier ? though probably impossible ? to laugh them off as silly ramblings.
Anyway, it does not make sense to deny Starkey the title "historian". His books are immensely well-researched. He may know nothing about modern Britain but he knows an awful lot about the privy chamber in the 16th century. One of the things he has made famous is the sense of that word "privy", with the king's ministers doubling as intimate body servants. The texture of Starkey's descriptions of Tudor court life is amazingly rich and similar to what the anthropologist Clifford Geertz called "thick description". Very few living historians would be on safe ground questioning his credentials, so I hope all those letter signatories are truly brilliant at their craft.
If Starkey has suddenly turned himself into a villain in many peoples' eyes, including mine, the historian Marc Bloch was surely a hero. He fought in the French Resistance, and was captured and executed by the Nazis. But if you read his great work Feudal Society, traces of his political beliefs are impossible to find. It is an attempt to imagine the entire society of Europe in the 11th and 12th centuries and it does this without judgment, without false contemporary parallels. For the past is another country, and there is a liberation in imagining a world that is human yet utterly different from our own. As the globalised economy ravages the last pockets of truly pre-industrial culture everywhere on earth, it is increasingly in history ? in the contemplation of other times when people thought in other ways ? that we can free our minds to imagine otherness.
Starkey, in his history books, does that. He reveals a past Britain utterly remote from today's debates. It is going too far, and probably playing into the hands of those who would seek to defend his "freedom of speech", to deny that he deserves respect as a historian. His books remain as good as they were. It is just his views on the present day that should be dumped in the garderobe and dealt with by the Master of the Stools.
guardian.co.uk © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds
Source: http://www.guardian.co.uk/artanddesign/jonathanjonesblog/2011/aug/30/david-starkey-race-riots
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Inter Payroll unveil new changes
British payroll providers Inter Payroll have today announced a line-up of changes which they believe will help them maintain their position as one of the leaders in the UK for payroll services. Inter Payroll are well known for the high … Continue reading
Source: http://www.annuitycalculatoruk.info/inter-payroll-unveil-new-changes-2/
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Monday, 29 August 2011
Cheerful and bright apartment in Sao Paulo
How many times have you looked at a residence and said that it had the perfect colour palette for a comfortable and calming effect? Now take a look at the next photos and try to imagine yourself sitting down on … Continue reading
Source: http://www.annuitycomparison.info/cheerful-and-bright-apartment-in-sao-paulo/
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Good intentions?
I?m working to the assumption that the readers of this Blog will be ?clued-up?, and so enjoy an ongoing relationship with an Independent Financial Adviser (IFA).
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/idqodi/
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The time is now?
An article in the Times today (20 Jun 2011) has raised the issue of the development of a two tier occupational pension being provided by companies. Those of us well versed in the machinations of the UK pension industry would probably say ’so what else is new’ but maybe for some readers of this blog, [...]
Source: http://www.pensionlawyerblog.com/pensions-tiers
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Risk Questionnaires are no substitute for intuition
I had an experience on Monday that re-iterated the lack of absolutes in financial planning...and possibly life in general.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/lw47cr/
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A truth universally acknowledged??
Today’s big story of course is the Government green paper on the future of the basic state pension. Currently one of the lowest in the developed world it stands at a paltry �97.65 a week (assuming you have a full National Insurance record) rising to a minimum income guraranteed top up figure of �132.60 if [...]
Source: http://www.pensionlawyerblog.com/pensions-green-paper
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Barbados Property ? Weston Resort update
Weston Resort, a development of 45 apartments on the west coast of Barbados, at prices far below anything seen in this location in recent years, is still progressing well and the exterior shell of the building is coming up very … Continue reading
Source: http://www.pensionforecast.info/barbados-property-weston-resort-update/
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Manufacturing security ? TUC and CBI on same page
The CBI?s report Protecting the UK?s foundations: A [...]
Source: http://touchstoneblog.org.uk/2011/08/manufacturing-security-%e2%80%93-tuc-and-cbi-on-same-page/
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A little more conversation
Much has been made in recent weeks of public sector strikes in response to government statements on pensions. I was very surprised to be quoted on the front page of The Times last week and to be criticised by Simon Jenkins in The Guardian the following day. As the oft-repeated quote from Churchill goes, ?to [...]
Source: http://blogs.bma.org.uk/pensions/2011/06/23/a-little-more-conversation/
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Junior ISAs
The Government has now published the draft regulations for its Junior ISAs. A brief summary is: Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/ghMjknI7MKs/ stamp duty reserve tax stamp duty fees stamp duty paid when is stamp duty payable stamp duty payable
Source: http://www.pensions-advisory-service.info/junior-isas-2/
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Sunday, 28 August 2011
Computer-Driven Trading Slowing Down?
According to "Traders Exit High-Speed Lane" by Tom Lauricella (Wall Street Journal, May 5, 2011), equity trading has slowed down since last year’s market "flash crash." Citing concerns on the part of previously active algorithmic traders and longer-term investors with … Continue reading
Source: http://www.pensiontransferuk.info/computer-driven-trading-slowing-down-2/
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And the winner is?no one
Once again Europe has spoken and this time it’s the women who will pay – well sort of. The latest diktat from the ECJ has declared that it will no longer be legal for insurance companies to use sex based factors when pricing products whether that be car insurance, life insurance or (and this is [...]
Source: http://www.pensionlawyerblog.com/pensions-ec
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Savings & the effort to switch
With interest rates at a record...and seemingly immoveable...low level, what to do for the best?
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/wyzzo6/
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Are ISAs about to become more popular?
ISAs have tax concessions; you pay in out of taxed income, but the growth and output are free of tax. With the tightening of tax relief on pension contributions for people with income over �130,000, and...
Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/Aj2EAHg6JsI/
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Ron Paul's desk
Hat-tip to Peter, whose comment on my blog 'Looters' brought this picture to my attention.
Source: http://feedproxy.google.com/~r/TheAdamSmithInstituteBlog/~3/41DhUsxcuJs/
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Pension Annuities: Medical conditions/Cost of delay
I presented to 25 local business-people this morning on various financial advice topics. One was headed ?At Retirement?.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/qcwdi7/
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Calculate future value with compounded interest rate.
How to use Financial Calculator to solve for future value. You can download it from iTunes or application store here: itunes.apple.com
Source: http://www.pension-release-uk.info/calculate-future-value-with-compounded-interest-rate/
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Borrowing from your SSAS Pension fund to aid your company
In the third of my conversations with Pension Practitioner .com, who are the U. K’s leading SSAS provider. I put to them that in the current economic climate many companies may not have surplus fund to put away into pension funds for the future whilst the present is so uncertain.
This notion is out-dated. [...]
This notion is out-dated. [...]
Source: http://www.pensionpractitioner.com/blog/borrowing-from-ssas-pension-fund/37/
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Barbados Property ? Weston Resort update
Weston Resort, a development of 45 apartments on the west coast of Barbados, at prices far below anything seen in this location in recent years, is still progressing well and the exterior shell of the building is coming up very quickly. After a small set back due to an unforeseeable amount of rain in the [...]
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The sky is falling down
Well, it certainly seems that way.
Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/md5660/
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National Savings & Investments
NS&I are not currently issuing index linked or fixed rate certificates so anybody with existing certificates about to mature should think twice before giving them up.
Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/m9Z5ZnoaFGg/
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Saturday, 27 August 2011
Counterparty Credit Risk Guidance From Bank Regulators
On June 29, 2011, the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System and the Office of Thrift Supervision issued its latest thinking on derivatives trading by banks. "Interagency Supervisory Guidance on Counterparty Credit Risk Management" considers the role of senior management, methods to measure risk, ways to manage risk and model validation.
Given the increasing number of institutional investors that deploy derivatives - directly or indirectly via third party organizations - for return enhancement or risk minimization purposes, this twenty-six page document is worth a read. Anything that impacts the costs of major derivatives dealers is likely to have a trickle down impact on pensions, endowments, foundations and family offices.
The list below offers a preview of takeaways from the regulators' perspective.
- Assessment of counterparty credit risk models should reflect their "conceptual soundness," along with "an ongoing monitoring process that includes verification of processes and benchmarking; and an outcomes-analysis process that includes backtesting."
- Develop a comprehensive process surrounding bank monitoring of collateral.
- Discuss how to control "wrong-way risk" which occurs "when the exposure to a particular counterparty is positively correlated with the probability of default of the counterparty itself."
- Banks need to regularly measure the "largest counterparty-level impacts across portfolios, material concentrations within segments of a portfolio (such as industries or regions), and relevant portfolio-and counterparty-specific trends."
Pension fund investment committee members can use the guide to draft or add to an existing questionnaire for interviews they conduct with their asset managers, banks and consultants.
Source: http://feeds.lexblog.com/~r/PensionRiskMatters/~3/zH-0vy3DU5o/
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Kushin Los, the Nation state: Another 4 issues
Sat back for another four issues. 1. Inheritance Tax – all taxes are theft regardless of the reason 2. Information Highway Cops – we don’t need them 3. The Kushin Los Inquisition – dismissal is the same as voting no … Continue reading
Source: http://www.iiht.info/kushin-los-the-nation-state-another-4-issues/
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All About A2B
Find out all about A2B, Access to Benefits, and how it helps older people and those that help them calculate their benefit entitlements in Northern Ireland. A2B has a Partnership Network of organisations ranging from senior citizens forums to political … Continue reading
Favourite festival moments: Mal Peet
The children’s author takes a young friend to see a magical stage version of Oliver Jeffers’ picture book The Incredible Book-eating Boy Bootworks’ Black Box Theatre has a maximum seating capacity of two ? as long as one of you … Continue reading
Source: http://www.retirementageuk.info/favourite-festival-moments-mal-peet/
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Prime Minister?s Questions (audio) 10-10-07 Part 1/4
Among discussion is: Part1: Environment, royal mail dispute, snap election, inheritance tax, EU treaty Part2: Basic rate of income tax, Liverpool-city of culture Part3: Non domiciles, minimum wage, Burma Part4: Underage drinking, Darfur, flood defences, housing
Source: http://www.pension-calculator.info/prime-ministers-questions-audio-10-10-07-part-14/
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Prime Minister?s Questions (audio) 10-10-07 Part 1/4
Among discussion is: Part1: Environment, royal mail dispute, snap election, inheritance tax, EU treaty Part2: Basic rate of income tax, Liverpool-city of culture Part3: Non domiciles, minimum wage, Burma Part4: Underage drinking, Darfur, flood defences, housing
Source: http://www.pension-calculator.info/prime-ministers-questions-audio-10-10-07-part-14/
The Untouchables?
In an earlier life I was the Legal Director of the Occupational Pensions Regulatory Authority, the predecessor body to the current Pension Regulator. One of the issues which took up a considerable amount of management and investigatory time concerned a … Continue reading
Source: http://www.pensionsuk.info/the-untouchables-4/
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Pension Annuities: Medical conditions/Cost of delay
I presented to 25 local business-people this morning on various financial advice topics. One was headed ?At Retirement?. Source: http://www.lse.co.uk/blogs/expert/resident-ifa-blog/qcwdi7/ stamp duty rates uk uk stamp duty rates stamp duty uk rates what is stamp duty on houses stamp duty … Continue reading
Source: http://www.pensionlumpsum.info/pension-annuities-medical-conditionscost-of-delay-3/
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TSSA Pensions Champions network
At the beginning of the year the TSSA trained its first wave of Pension Champions. Stimulated by the report made by the Railway Pension Commission and recommendations to move to a career average scheme*, as well as disregarding TSSA recommendations … Continue reading
Source: http://www.pensionforecast.info/tssa-pensions-champions-network-4/
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Ken Livingstone wants your vote
There’s a good interview in Total Politics today which is a reminder of why it would be a mistake to write off Ken Livingstone; it appears there is plenty of life left in the wily newt-loving leftwinger. Asked why people … Continue reading
Source: http://www.pensionscalculator.info/ken-livingstone-wants-your-vote-2/
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Friday, 26 August 2011
New music: Clean Bandit ? Telephone Banking
A band built around a string quartet mixing classical, hip-hop and electronica? That’ll be Clean Bandit Things you need to know about Clean Bandit: there are six of them, the band was originally built around a string quartet and they … Continue reading
Source: http://www.illhealthretirement.info/new-music-clean-bandit-telephone-banking/
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Green light for pensions champions
Prospect is to set up a network of workplace pensions champions to help members handle the many retirement choices they now face. Conference backed a proposal by the national executive to give full support to the TUC's pensions champions project.
People now understood pensions issues much better than in the past, but how they actually work is less well understood, said Audrey Uppington, moving the NEC motion. The TUC project aimed to explain to members at work the options available to them, she said. It includes a pensions website and the facility for members to build up their own personal pensions profile.
Source: http://www.pensionschampions.co.uk/?q=node/59
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There's more to life than university
Newspapers at the end of last week were filled with pictures of teenagers jumping in the air. A-Level results day is the one day of the year where Britain's youth throws caution to the wind, remove the shackles of an emotionally repressed British childhood and allow photographers to convince them that such photos won't haunt them in future. This year's news reports seem dominated by images of students "scrambling" for clearing places, having narrowly missed out on the grades required for their firm and insurance offers.
Most, if not all stories heighten the drama by continually referring to the looming prospect of next years (up to) £9,000 tuition fees. Surely the last thing nervous students need is the continual insistence that this year is the last year that the "average" student can afford to go to university.
The effects of the media and student union's false representation of the Browne Review still remain, and may just be the reason why many students accept places that they are not entirely happy with or have little interest in pursuing. Rather than piling the pressure on those who narrowly missed out on places this year, we should be extolling the virtues of the large range of options available to them.
Students opting to take a year out to either re-think their options or to re-take exams are not burdening themselves with "mortage-style debts", but sensibly saving themselves from rushing into a university course that will take nearly £3,500 of their money each year whilst potentially offering them little personal value in return. It must also be remembered that university isn't the only route open to college-leavers: a range of apprenticeships, training schemes and alternative qualifications are available. And, of course, there's always the option of going straight to work.
The positive outcomes of the increase in tuition fees have been, thus far, hidden from those applying to university. Such increases give students greater powers and larger choice, forcing universities to provide courses that are better value for money. And the fact that students are now considering whether university is a good finical decision for them should be seen as positive. Fees are paid back after graduation according to the amount the student is earning. If a university degree will afford them greater earning potential then the increased tuition fees can certainly be justified. If this isn't the case then there are plenty of other options.
The media's advice to those who've missed out of university places should have been along different lines. Taking time to properly assess whether university is the best choice for your future should always be the advice given by teachers and the media. Hopefully, the increase in tuition fees will mean that next year's applicants are fully aware of their options and choose the route that best suits their goals, regardless of the perceived financial costs attached.
Source: http://feedproxy.google.com/~r/TheAdamSmithInstituteBlog/~3/sT8f4KVFzu8/
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FactCheck: London?s Met Police vs New York?s NYPD
Boris Johnson doesn't want America?s Supercop swooping down on the Met Police with his hard-line "zero tolerance" policies. But how does the NYPD with it's hard-line tactics, compare to the London's Metropolitan poilce?
Source: http://blogs.channel4.com/factcheck/factcheck-londons-met-police-vs-new-yorks-nypd/7562
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That ETV debate in full
Sometimes people's comments on blogs are more interesting than the blog itself- this is certainly the case in a blog I wrote last week on "Enhanced Transfer Values" the thrust of which is that there are better ways to de-rsik defined benefit pension plans than by giving members cash bungs to transfer out theirguaranteed rights.
Source: http://henrytapper.com/2011/08/20/that-etv-debate-in-full/
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Talking Horses: Latest news and best bets in our daily racing blog
The latest news and best bets in our daily horse racing blog, plus our weekly tipping competition Today’s best bets, by Will Hayler Everyone’s favourite target, 48-hour declarations, will no doubt cop the flak for a rush of non-runners at … Continue reading
Source: http://www.drawdown.info/talking-horses-latest-news-and-best-bets-in-our-daily-racing-blog/
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Llana Beach Hotel and Spa ? Cape Verde
Llana Beach Hotel and Spa in Cape Verde is now nearing release as Dunas Beach Resort gets closer to becoming completely sold out and Tortuga Beach Resort strives on as a top class holiday destination in Cape Verde. Llana Beach … Continue reading
Source: http://www.the-pension-service.info/llana-beach-hotel-and-spa-cape-verde/
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Welfare: Sue Kinnear 06.07.10
Thousands of war veterans’ families could be missing out on large inheritance tax savings because they’re not aware of a little used exemption.
Source: http://www.the-pension-service.info/welfare-sue-kinnear-06-07-10-3/
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Losing the default retirement age ? stuck with a normal pension age?
As is well known, employers have been able to retire employees at 65. The ability to do this is now removed for most employees under employment legislation (from 6 April 2011 or 1 October 2011 if the employee had already been given notice of imminent retirement). So many of our clients are starting to face [...]
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Back-to-school daze as parents spend �736m
Parents will spend �27m more than they did in 2010 on new school items for their kids, a survey says
Parents in the UK will spend an average of �77 a child on "back to school" basics this summer, with 56% saying they feel under pressure to spend more than they did last year.
A survey of 2,000 adults carried out by insurer LV= found that parents are set to splash out �736m on uniforms, stationary, sportswear and school books ahead of their children returning to school ? �27m more than they did in 2010.
Back to school costs are �81 for secondary school-aged children, the survey said, compared to �67 for junior school and �63 for infants. Parents in Scotland and north-west London will shell out the most ? with an average spend of �88.50 ? while parents in the east Midlands said they would spend an average of �60.
Despite the expected increase, more than half (53%) of all parents said they are planning to buy "budget" school uniforms and stationery this year. This could mean the LV= figures are a little higher than reality.
Asda's George clothing includes school shirts from �2, and trousers and skirts from �3; Sainsbury's Back TU school range has slightly more expensive shirts at �2.50, as well as school trousers and skirts from �2; while Tesco's F&F range came out the most expensive for shirts (�3.75), but the cheapest for trousers (from �1.75) and skirts (from �2.50). Even Marks & Spencer is charging just �5 for a multi-pack of three white shirts in some sizes.
Mark Jones, LV= head of protection, said: "At first glance, spending �77 to send your child back to school may not seem excessive, and preparing children for their return to school is such a small part of the expense of raising a family, but it's easy for these costs to mount up.
"This is why it is important that parents try and look beyond the short term and ensure they have suitable budgets and long-term financial plans in place."
LV= also said the cost of raising a child until their 21st birthday now totals more than �210,000, with education the second biggest expenditure behind childcare, costing parents �55,660. With those figures in mind, the price of a school uniform seems to pale by comparison.
Have you brought your children's back to school range yet, and if so did you go to a low cost supplier? Do your children themselves care where their uniform is bought from, and if so are you feeling the pressure to spend more?
guardian.co.uk © Guardian News & Media Limited 2011 | Use of this content is subject to our Terms & Conditions | More Feeds
Source: http://www.guardian.co.uk/money/blog/2011/aug/26/back-to-school-parents-school-items
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