Markets
London - UK stocks closed higher on Thursday, on stronger financials, which were bolstered by government measures to support RBS, while falling energy stocks capped gains. The FTSE100 closed 66.66 points higher at 3915.64. RBS rose 25.5 percent, despite reporting a loss of £24.1bn for 2008, the biggest loss in British corporate history. Investors took comfort from the fact the Treasury will inject £13bn to help RBS pay for a new scheme that will transfer most of the risk from £325bn in toxic assets and risky loans to the taxpayer. Analysts remained sceptical about whether the recovery in equity markets is sustainable. Lloyds added 30.7 percent to top the FTSE leaderboard. Barclays and HSBC both added 7 percent, while Standard Chartered rose just 0.9 percent.

Posted: February 27th, 2009 under Asset Management.
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April 2009 sees several legal changes of which employers should take note:
Increase in Holiday Entitlement
On 1 April 2009, the statutory paid holiday entitlement will increase from 4.8 weeks to 5.6 weeks.  For a worker on a five day week this is equivalent to an increase from 24 days to 28 days.  For part-time workers, holiday [...]

Posted: February 27th, 2009 under Employment/HR.
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Markets
London - UK stocks closed higher on Wednesday after a roller coaster afternoon, with gains from oils and financials countering weak miners and sharp falls on Wall Street after home sales data. After the close the FTSE100 was 32.54 points higher at 3848.98. The Chairman of Britain’s Financial Services Authority, Adair Turner, said on Wednesday he now believed the way it regulated banks such as HBOS before its near collapse last year was wrong. Financials moved higher as Britain’s Treasury and the banks hammered out final details of a plan to limit lenders’ losses on about £500bn pounds of risky assets, which the government said, should help prevent full nationalisation. Britain has pledged to unveil the scheme this week and is expected to announce terms for part-nationalised RBS and Lloyds Banking Group when they report results today and tomorrow, respectively. RBS, Lloyds Banking Group, Barclays, HSBC and Standard Chartered all gained between 3.2 percent and 7.5 percent.

Posted: February 26th, 2009 under Asset Management.
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Markets
London - The FTSE 100 is currently 26.65 points higher at 3,843.09. Financial stocks pepper the risers’ board including Lloyds, up 8.7%, RBS up 6.8% and HSBC adding 4.6%. Hammerson rises 7.4% after JP Morgan raised its rating on the stock to “overweight” from “neutral”. Carnival also benefits from an upgrade, courtesy of Credit Suisse, to “outperform” from “neutral”. Shares in the cruise ship operator are 6.8% higher. The fallers’ board is topped by Randgold Resources and Reckitt Benckiser, who both went ex-dividend today.

Posted: February 25th, 2009 under Asset Management.
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Markets
London - The FTSE 100 is currently 12.03 points lower at 3,838.70. Insurers lose ground following the news that AIG could face bankruptcy. Aviva slips 2.5%, Legal & General loses 3.3% and Prudential drops 3.9%. RBS tops the risers’ board after updating the market on its performance, shares gain 3.3%. Defensive stocks helped limit losses, including Drax which gains 1.2%, Scottish & Southern Energy climbs 1% while Associated British Food adds 1.6%.

Posted: February 24th, 2009 under Asset Management.
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