IMF Director Christine Lagarde Said UK Authorities Should be Quick to React If the Economy Slows Down Further
Authorities in the UK should be in a state of “heighted readiness” to counter any further slowdown in the UK, said International Monetary Fund Managing Director Christine Lagarde.
Italian Economy Minister Giulio Tremonti said today that he will initiate an in-depth assessment of the country’s economy next week to find out the efficacy of past measures to improve public finances and discuss new measures to spur economic activity.
Greek finance minister told the country’s economy may shrink more than 5% this year toppling earlier projections while addressing business people in the northern Greek city of Thessalonoki.
Under the new government rules, the Financial Ombudsman Service plans to publish the names of firms engaged in complaints when it announces ombudsman decisions.
Consultant JLT Benefit Solutions believe gains made by schemes by switching indexation to Consumer Price Index (CPI) have been wiped out by falling interest rates.
A report published by the Centre for Policy Studies today, said even the full implementation of the Lord Hutton report on public sector pension reforms is unlikely to create a long term and sustainable state pension system.
Lobby group Collective Defined Contribution Forum (CDCF) warned that retrospective legislation stemming from the Imperial Home Décor judgment could ruin the future development of collective defined contribution.
Data released by Office for National Statistics (ONS) show personal pension contributions have dropped 10% since 2007. Contributions dropped by £2.2 billion to £18.7 billion in 2009-10 from £20.9 billion in 2007-08, figures released yesterday (September 7, 2011) by ONS showed.
Employers can make contributions to the National Employment Savings Trust (NEST) using debit cards, a facility denied by most service providers.
A report prepared by the Leeds University Business School found accounting standards used now to estimate assets and liabilities of UK schemes undermine pension provisions.
Equity release specialist Key Retirement Solutions claimed many savers are may lose up to £5,000 for delaying purchase of their annuities in the hope of seeing their pension savings recover.
Warning employers against factoring in short service refunds when selecting a pension scheme, pensions minister Steve Webb said they will no longer be a part of future pension landscape.
The proposals from the Independent Commission on Banking (ICB) for ‘ringfencing’ retail operations from investment banking may be significantly ‘watered down’ by Prime Minister David Cameron as he fears this may slow down economic growth, the Sunday Telegraph reported.
The International Monetary Fund (IMF) approved the release of €1.48 billion to Ireland under the international rescue plan saying the country is ahead of schedule on legal restructuring of banks.
The possibility UK government selling its stake in the Royal Bank of Scotland and Lloyds and exiting the investments within this parliament has almost but disappeared, senior officials connected with the process conceded.
The head of ratings agency Standard & Poor’s European sovereign rating unit warned on Saturday that a joint Euro bond guaranteed by all member countries would get the weakest member’s credit rating. Talking at a panel discussion, Moritz Kraemer, managing director of the EMEA sovereign ratings division said S&P was not in talks with the [...]
