Credit Suisse advise clients to move assets out of UK as ultra-wealthy prepare to jump ship

Credit Suisse has advised its ultra-wealthy clients to consider moving assets out of the UK due to uncertainty around Brexit. Wealth managers in London have contacted their top customers to warn that a prolonged period of “turmoil” had already caused a rush of clients wanting to “move assets offshore”, the FT has reported. They advised their ultra-wealthy clients that they might want to “accelerate” similar plans too before the rescheduled vote in parliament in early January. Theresa May delayed a vote on her...

Brexit won’t bring ‘festive cheer for Sterling this season’

Sterling fell to a new 20-month low against the Dollar on Tuesday and it looks like the on-going turmoil is not going to steady the currency for the foreseeable future. Compared to the Euro it was at a three and a half month low. Now with the PM facing a vote of no confidence, the stormy financial weather looks set to continue. Commenting on Sterling’s performance in the wake of the no-confidence announcement, Andy Scott, Associate Director at JCRA, the...

Pound hits 18 month low against dollar after May abandons Brexit vote

The pound fell to an 18 month low against the dollar after Theresa May called off a vote in Parliament on her Brexit plan. May is now seeking to reschedule the vote on the terms of the U.K.'s exit from the European Union. However, the uncertainty meant the pound fell 0.5% versus the dollar to $1.2664. Commenting on the fall in Sterling following Theresa May’s plans to delay Parliament’s meaningful vote on her Brexit deal, Andy Scott, Associate Director at JCRA,...

Brits in-line for red January as cost of Christmas plunges us into debt

Millions of Brits are worried about the cost of Christmas this year, with half revealing they plan to borrow money just to cover expense, a study found. While most will budget just £449 for the festive period – the reality is that we’ll each spend up to a whopping £1,086 on presents, food and drink, hosting friends and family, travel and accommodation. Researchers polling 2,000 individuals found that one in three have considered taking out a credit card, loan or...

The pound is shackled by Brexit

The pound is shackled by Brexit drama, is locked in a holding pattern, and nothing is currently priced in, warns the CEO of one of the world’s largest independent financial advisory organisations. The warning from Nigel Green, founder and chief executive of deVere Group, comes as sterling remains vulnerable to every twist and turn to the political saga over the UK’s exit of the European Union. Mr Green comments: “The pound has been and remains the primary market bellwether since...

Lower wages for young people is “out-and-out discrimination”

The Government has accepted the LPC's recommendations for future minimum wage rates. The rates below will apply from 1 April 2019. Responding to today’s Low Pay Commission report on wages, Young Women’s Trust chief executive Dr Carole Easton OBE said:“The Government should go further than adopting the Low Pay Commission’s recommendations and extend the ‘national living wage’ to all workers. Allowing employers to pay young people lower wages for no other reason than their age, as the Government is doing,...

Three quarters of Brits are worried about their current financial situation

Three quarters of Brits are worried about their current financial situation, a study has found. Researchers found a large percentage of the nation fear they don't have enough money to see them through a sudden crisis such as a large, unexpected bill. Others are concerned they would face almost immediate ruin if they were to lose their job or be struck down by ill health. It also emerged around one in five have no savings whatsoever to fall back on...

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