The latest research from the financial information site
revealed pension funds have born the brunt of the loss in value of banking
shares, estimated to have plunged by £148bn in the past three years, most of
which has been wiped off since the credit crunch started in the summer of 2007.
‘This huge loss in the value of shares will largely be borne by pension
funds, insurance companies and small private investors,’ Andy Yates,
DigitalLook.bn director,’ told The Independent.
‘It will help force down pension payments and push up the cost of life, car
and house insurance. Every bailout that leaves the shareholders in the cold is
just going to add to that problem. There is nearly £10bn in market cap wiped
from Bradford & Bingley and Northern Rock that isn’t going to reappear.’
The problem, Yates says, is that the undermining of the banking sector will
damage the Government’s ambition for more Britons to fund their own retirement
through the private pension system.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.