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On-Line Estate Agents and Crowdfunding

Post Date: October 18, 2017

I was watching the BBC television news last night when a story appeared on the wonders of a 19 year old who was already alleged to be worth £10 million after developing an on-line estate agency called Doorsteps. Yes, it was great free publicity for the company. Bearing in mind the continuing debate among investors about listed company Purplebricks (PURP) I thought it was worth a quick look. Purplebricks has a stock market valuation of £950 million despite rising losses. Will the ...

HBOS and Lloyds Legal Case

Post Date: October 17, 2017

This week sees the start of the legal case in the High Court by investors in the Lloyds TSB over the acquisition of HBOS – opening submissions are on Wednesday and it’s scheduled to run through to March next year. Anyone can attend these hearings of course but I think it will take a very patient person to sit through all of it. I have submitted written evidence on behalf of the litigants (represented by Harcus Sinclair) but it seems I ...

ShareSoc fully supports the Better Finance Report on Pension Savings and its recommendations

Post Date: October 11, 2017

ShareSoc is a member of the Pan-European organisation Better Finance and commented “This is an important report that highlights the harm that inadequate returns give to long term savers. High fees are also hurting returns. The UK Pensions Fund are valued at £3.8 trillion and are by far the largest in Europe. It is important that the UK lead the way in this area. The recent appointment by the FCA of Chris Sier to chair the panel on costs disclosure is another ...

Guidance for UK Boards on Stakeholders

Post Date: October 11, 2017

Review and commentary by Cliff Weight ICSA: The Governance Institute and The Investment Association (IA) have launched guidance to help UK company boards ensure they understand and weigh up the interests of their stakeholders when making strategic decisions. Commentary: My view is • They have recommended 10 principles. Principle number 9 is important -“The board should report to its shareholders on how it has taken the impact on key stakeholders into account when making decisions.” - The Government will introduce legislation to this effect ...

Obituary – Steve Marshall

Post Date: October 10, 2017

The Daily Telegraph ran a lengthy obituary on Steve Marshall today, who died recently at the young age of 60. It covered his financial career in a not particularly complimentary way although some might say he took on a lot of difficult positions. He first came to public prominence when he became CEO of Railtrack after Gerald Corbett was forced to resign, despite having minimal experience of the railway industry. Railtrack was part of the former British Rail that had been privatised ...