Virgin urges PEP switch
Article Abstract:
Virgin Direct, the UK financial services company, has been criticised by consumer groups for encouraging investors to transfer the value of their PEP into a Virgin Personal Pension. In a tailored mail shot it offers savers the chance to "increase the value of your savings by almost 30% overnight". It claims this can be done by collecting upfront tax relief from the Inland Revenue. However, Virgin fails to point out that PEPs pay out tax free while pension payouts are taxed at the savers marginal tax rate. Virgin responded by insisting that no advice had been given and that customers would be put in contact with qualified financial advisors.
Comment:
Is criticized by consumer groups for encouraging investors to transfer the value of their PEP into a Virgin Personal Pension
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Barclays to cut 200 jobs as fear grows
Article Abstract:
Up to 200 jobs are expected to be lost from Barclays Capital, the investment division of Barclays Bank, which has been hit by the downturn in trading activity following the upheaval in the emerging markets and the recent hedge fund crisis. Each division of Barclays Capital has been told to re--assess its cost projections for 1999, which could lead to job cuts in departments which are most exposed to emerging markets. Rumours that Barclays Capital is to be sold have been denied. The division, which includes the bank's treasury and syndicated loan divisions, will concentrate on European markets preparing for the introduction of the euro.
Comment:
May terminate up to 200 jobs due to downturn in trading activity
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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Geared up for better long-term performance
Article Abstract:
Gearing is one way of boosting the performance of the underlying assets of an investment trust. It increases shareholders' returns in rising markets, but reduces them in falling markets. Investors benefit from successful gearing, as good underlying performance is the most significant element in increasing the price of an investment trust's shares. Most investment trusts trade at a discount, with their share price being lower than the underlying net asset value per share. Discounts are not necessarily a negative thing, and investment trusts have shown extremely good long-term performance.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1998
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