Category Archives: Money

Money

Checking & Savings, Financial, Financial Information, Financial Services, Investment, IRA, Money, Personal Finance, Retirement

Standard Life Reveals The Most Popular Retirement Top-Up Plans

Standard Life research* has revealed the most popular retirement top-up plans for people who have saved into a pension. Alongside using other investments (43%), nearly a quarter (24%) are expecting inheritance will help fund their retirement, while others are planning equity release on their main home (10%), using rental income / sale of a property (23%) or using a partner or spouse’s income (16%).

The research found that 7% of over-55s don’t plan to retire or have a pension plan, even though they had been saving into a pension. Using the state pension or other state benefits (76%) was the favoured choice of the majority of people. 23% of women are expecting to receive a retirement top-up from their spouse, while 13% of men make the same assumption.

John Lawson, head of pensions policy at Standard Life said: “Nearly half a million people in the UK over 55 are not planning to retire. This shows our attitudes towards retirement are changing, as people consider the implications of working and living longer than ever before. We know that many people want to continue working on their own terms, while some will want to start a new business or learn a new skill.

“Unfortunately, some may not have got their financial planning quite right. The realisation of reaching 65 and having to fund another 30 years in retirement has made them rethink their future plans.

“Relying on certain sources of income, for example an inheritance, could leave you short changed, so seeking the right financial advice early on and taking practical steps to ensure you don’t have all your eggs in one basket may prove a prudent move in later years.”

To help support people when making investment decisions, Standard Life has recently launched a range of investment funds, called MyFolio**. The MyFolio funds are a family of carefully constructed risk-based portfolios that offer clients a choice of active and passive investment strategies across five risk levels. Three styles are available to suit each clients’ investment philosophy: MyFolio Market Funds, Standard Life MyFolio Funds and MyFolio Multi-Manager Funds.

Via EPR Network
More Financial press releases

Banks, Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

TradingFloor.com Releases Video on Margin Pressure

TradingFloor.com, the home of Saxo Bank’s trading commentary, financial research and analysis, has released a video discussing the first quarter earnings wrap and specifically what happened to margin pressure.

It seems margin pressure hardly emerged and that its effects (on the back of higher commodities), especially for consumer driven companies, will instead first kick in later in the year. The underlying momentum for stocks remains strong. Pro-cyclical companies, in particular, posted good results largely driven by emerging markets), and this was confirmed in their earnings outlooks for more growth ahead – which is good news for stocks and the overall economy. Peter Garny, equity strategist for Saxo Bank discusses these issues in TradingFloor.com’s latest video.

With the larger companies in the S&P 500 in mind Peter discusses how many investors at the beginning of the earnings season were talking about a margin squeeze. In actual fact margins have actually expanded slightly in April, as well as year on year. So, margin pressure is by and large not evident yet, and the only disappointment lay on the top line in terms of revenue, which has slowed down somewhat. However, Peter is hopeful that this will grow again as the economy continues to grow throughout the year.

Peter then tackles how companies have dealt with the pressure of rising input costs. He commented that many of the large companies still have tight controls in place, meaning they have managed to keep their operating costs low. Most companies are also operating with long term contracts, which mean that rising spot prices in commodities are yet to kick in.

To finish, Peter talks about how large shipping companies and steel makers have recently reported better than expected earnings and growth, and what can be deduced from this in terms of economic growth. The numbers from these big procyclical companies, combined with the better than expected GDP numbers from the Eurozone show that the underlying momentum in the economy and on the corporate side is strong. However, as there is no great pick up in either Europe or the U.S., the emerging markets are clearly driving these numbers. This is a good sign for economic recovery, because when big companies affirm their outlooks for 2011, it generally means it should be a good year for stocks.

Via EPR Network
More Financial press releases

Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

Reliable Forex Signal Service

After almost 3 years of trading, development and back-testing, Reliable Solutions is proud to announce the launch of the Reliable FX Signals subscription service.

For the first time ever, Reliable Solutions introducing “Automated Trading System” in Forex industry. By this service, subscribers need not to wait for email or SMS to receive trade signals. Instead of that all the trade signals will automatically executed on subscribers Metatrader 4 account. All subscriber need to do is to check increasing balance daily.

Each day, Reliable FX Signal subscribers will be sent at least 1 trading signal a day. If subscribers PC and Internet are online then that trade will be executed automatically and it will also set take profit, stop loss levels at the time of execution. Reliable FX Signal will also manage risk of subscribers account. We also offer 100% money back guarantee to our subscribers. It means, at the end of the month if subscribers account balance stays below of beginning balance then we will give 100% subscription charges back to subscriber. Development of own profitable, stable, viable trading system may take several years. Normally, this process faces some dangers. Plus add to that the fact that you are going to make some big mistakes on your way which means that you will lose lots of money. Often, these mistakes devastate the account, and injure the incentives of the beginner so much, that he gives up his work with Forex and makes no further tries. Our signals will help you avoid this huge mistake.

Our experienced and professional traders strive to identify the market current trend (short or long) ¬ so you can reap the benefits and make money constantly. We hope that you will take full advantage of all we have to offer in our website.

For more information about the signal subscription service, Reliable FX Signals, you can go to the company website at http://www.reliablefxsignals.com.

Via EPR Network
More Financial press releases

Assets, Financial, Financial Information, Financial Management, Financial Services, Insurance, Insurance Services, Money

LV= Launches My Car iPhone App

LV= has launched a new iPhone app for motorists called LV= My Car. It is a multi-utility application that features five clickable options for users to chose from including a car profile function, traffic maps, local info maps and for LV= customers only, an accident toolkit and call LV= tool. Each option takes the user to a separate page and offers a different service.

The car profile function allows users to input information about their own car to be stored on the app. Users can either enter their vehicle registration number whereby a third party provider will determine the exact car make/model (plus other information) or they can choose to create their own manual car profile. Here they will be able to include relevant information about their car such as engine size, BHP, miles per gallon, tyre pressure and tyre size.

There is also the option to set a number of car related renewal reminders including road tax, MOT and service, parking permit, and insurance. These reminders can also be added to the iPhone calendar. Users are then alerted two weeks before the renewal is due.

Using the accident toolkit feature, LV= car insurance customers are able to fill out an accident report form and submit it to LV=. There are two sections to this feature; ‘during an accident’ and ‘after an accident’. The first section allows the user to make notes about an accident they have been involved in and this includes the other driver’s details and the opportunity to capture images of the accident.

The second section enables LV= customers to fill in an accident report form. Here they are prompted to note their personal information, a description of the incident, whether there was third party involvement, whether either party accepted fault, extent of the damage, injuries, witnesses, whether the police were involved and if there is a crime number. Once all of the relevant information is complete users can submit the form to LV= and a claims handler is guaranteed to get in contact within 24 hours. Customers also have the option to call LV= at this point rather than submit information via the app.

Drivers can also use the app to receive detailed local traffic updates and access a local information map which will highlight nearby amenities.

The launch of the application follows the launch of LV=’s first iPhone app for job hunters which was released in September last year.

Paul Wishman, LV= e-commerce director said: “We are delighted to be launching the LV= My Car app. We opted to create an app with a difference that offers a service that could be used in different situations. We have recently launched the LV= mobile site so the launch of the iPhone app is the next step in our mobile strategy.”

Via EPR Network
More Financial press releases

Business, Financial, Financial Information, Investment, Money, Profits, Security, Stocks, Trading

Will the Catholic Church & the U.S. Courts Embrace Advanced Cell Technologies?

Advanced Cell Technology with laboratory facilities in Marlborough Massachusetts has pioneered a solution to the ethical, moral & legal debate raging in regards to protection of a human embryo. ACT has developed the “single-blastomere” technique. Patent Number 7,893,315 a non-destructive alternative for deriving human embryonic stem cell (hESC) lines.

This achievement in Regenerative medicine is a ground breaking feat for both Catholic and U.S. law.
• The 1995 encyclical The Gospel of Life, of which Pope John Paul II wrote: “Human embryos obtained in vitro are human beings and are subjects with rights; their dignity and right to life must be respected from the first moment of their existence. It is immoral to produce human embryos destined to be exploited as disposable ‘biological material'” (1,5 )
• The Dickey Amendment (also known as the Dickey-Wicker Amendment) is the name of an appropriation bill rider attached to a bill passed by United States Congress in 1995, and signed by former President Bill Clinton, which prohibits the Department of Health and Human Services (HHS) from using appropriated funds for the creation of human embryos for research purposes or for research in which human embryos are destroyed.

The single-blastomere technology uses a one-cell biopsy approach similar to pre-implantation genetic diagnosis (PGD), which is widely used in the in vitro fertilization (IVF) process and does not interfere with the embryo’s developmental potential. The stem cells generated using this approach are healthy, completely normal, and differentiate into all the cell types of the human The safety record for one-cell biopsy as part of PGD now has a 15-year track record, and is carried out routinely as part of IVF processes around the world. ACT’s technique of protecting the human embryo from harm can be expounded to the smallest blood transfusion in the world. As does a human being give millions of blood cells in a pint of blood so does ACT’s “single blastomere” process take but “one cell” from a 2 day old embryo. As the blood removed from a human donor “regenerate” the removed pint of blood so does the human embryo “regenerate” the one cell. Both of these procedures leave the human body & two day old embryo healthy. Both procedures are similar in that they both provide life saving material to those whom need them most to due to disease and other aliments of a medical nature.

Advanced Cell Technology has been granted by the US Food and Drug Administration (FDA) a Phase I/II multicenter clinical trial using retinal cells derived from human embryonic stem cells for both Stargardt’s Macular Dystrophy (SMD), one of the most common forms of juvenile macular degeneration in the world and Dry Age-Related Macular Degeneration (AMD) the most common form of macular degeneration in the world affecting an estimated 150 million people. ACT is using RPE cells developed from the patented (SCB) technique for this trial. The trial will take place at UCLA’s Jules Stein Eye Institute in California. Because of the biological nature of the human eye the trial will be able to provide a 100% irrefutable proof that the (hESC) derived RPE cells used attached to the Bruch’s membrane. Before and after state of the art imaging will take place.

Via EPR Network
More Financial press releases

Assets, Banks, Business, Financial, Financial Services, Financial Solutions, Investment, Money

RBS Invoice Finance Launches New External Website

RBS Invoice Finance has launched its new external website. The new site comes after several months of development and planning, as well as talking to staff, clients and introducers alike.

The improved site sees the information architecture of the site being completely overhauled, allowing easier access to the information on the site for different audiences.

The new site aims to be turnover-based for those who are keen to understand the types of services RBS Invoice Finance offers; sector-based, for those who are keen to see examples of the services and clients in sectors such as theirs and product-based, for those who know what they are looking for.

The site also features new and improved content including richer content, to help engage visitors and keep them browsing the site, animation to bring ‘Approve/Fund/Collect/Protect’ to life and video client case studies to help tell the RBS Invoice Finance story through the voice of the client.

Ross McFarlance, director of UK sales and client relations, commented: “The digital world is constantly changing, so it’s important that we invest to give our site prominence in search engine results. To ensure this happens, RBS Invoice Finance has appointed bigmouthmedia as its retained search engine optimisation agency. They will help RBS Invoice Finance to continually review and improve its performance in online search engines.

“This is a significant investment in the online channel and one which RBS Invoice Finance is confident will yield increased online visibility, site traffic and new business lead flow.”

Via EPR Network
More Financial press releases

Business, Financial, Financial Information, Investment, Money, Profits, Security, Stocks, Trading

Advanced Cell Technology (OTC:ACTC) vs. Geron Corp. (NASDAQ:GERN)

Regenerative medicine is a highly complicated and vastly misunderstood science. Investor Stem Cell is dedicated to bringing investors and stakeholders together in thoughtful discussion to educate and publicize the incredible advancements unfolding in the regenerative medicine sector. A quantum leap in health care is upon the world. Will you profit from this emerging sector & help bring cures to millions? Find out now what the street thinks at www.investorstemcell.com.

Side by side comparison of Advanced Cell Technology & Geron Corporation:

Geron Corporation (NASDAQ:GERN), Approved by the FDA to use human embryonic stem cell (hESC) treatments to treat spinal cord injuries. The research Goliath is a well-funded machine employing the top minds in the world working on everything from mid-stage oncology trials to promising (hESC) drugs for spinal cord injuries, heart disease & cancer.

Snap shot of Goliath: Geron Corpoartion-(NASDAQ:GERN)-
• Seven oncology Phase 2 trials currently underway, and has several big Pharma joint venture agreements in oncology animal and human trials
• Five hESC areas of investigation underway. GRNOPC1 is the lead candidate. Geron destroys the human embryo through its (hESC) R&D, of which the company uses the blastocyst embryo formation at day five after fertilization from IVF clinics
• Cash, restricted cash, cash equivalents and marketable securities: $221,274.000.00
• Total operating expenses in 2010: $114,730,000.00
• 175 employees; over 100 hold PhD or MD degrees
• Geron Corporation was founded in 1990 and is based in Menlo Park, California
• Trades on the NASDAQ providing liquidity & large institutional investors
• Corporate financial statements:http://www.geron.com/investors/reports/GeronAnnualReport2010.pdf

Advanced Cell Technology not too long ago was the predominant leader in the field of regenerative medicine. It fell from that distinction in part due to executive management hubris and ultimately the credit crisis in mid-2008. ACT was able to resurrect itself from near bankruptcy in June 2008 and now has the distinction of holding two out of the three FDA approved (hESC) trials. ACT is led by a competent executive management team and employs several of the most predominant regenerative researcher(s) in the world.

Snap shot of David: Advanced Cell Technology-(OTC:ACTC)-
• Retinal Pigment Epithelial Cell Program is their lead program-(HESC) trials for both SMD/AMD are expected to start in week(s) Jules Stein Eye Institute at the University of California, Los Angeles (UCLA ) will conduct the 2 (hESC) trials for Stargardt’s Macular Dystrophy (SMD) and Dry Age-Related Macular Degeneration (AMD)
• Filed a European Clinical Trial Application for Phase 1/2 study using (hESC) to treat macular degeneration
• Issued a broad patent for hESC-derived RPE cells in China
• Seeking funding & joint venture partner for Myoblast program for the treatment of cardiovascular disease Phase 2 approved by the FDA
• Joint ventured with Korean medical giant CHA to form “Stem Cell & Regenerative Medicine International” (SCRMI). This partnership expected to file an investigational new drug application (IND) with the FDA in Q-4 of this year. CHA biotech is waiting for final approval from the Korea Food and Drug Administration for (hESC) trial for AMD
• Issued patent on its “single-blastomere” technique. Patent Number 7,893,315 broadly covers ACT’s proprietary single-blastomere technology that provides a non-destructive alternative for deriving hESC lines. This “Embryo-Safe” one-cell biopsy approach similar to pre-implantation genetic diagnosis (PGD), which is widely used in the in vitro fertilization (IVF) process and does not interfere with the embryo’s developmental potential
• 22 full-time employees, six hold PhD or MD degrees-Formed in 1994, HQ in Menlo Park, California with laboratory facilities in Marlborough, MA
• Total operating expenses in 2010: $22,044,701
• Cash, restricted cash, cash equivalents and marketable securities: $34,889,409
• Trades on the OTC:BB ACTC is a Sarbanes–Oxley Act SEC reporter
• Corporate financial statements: http://www.sec.gov/Archives/edgar/...

Via EPR Network
More Financial press releases

Assets, Banks, Bonds, Business, Financial, Investment, Money

Cainvest Acquired Sul America International Bank

Cainvest controlled by the Cohab/Aboulafia family from Brazil has announced the acquisition of the totality of shares of Sul America International Bank (Cayman) Ltd. for an undisclosed amount. Cainvest announced an investment of US$ 30 million and renamed the acquired Bank to Cainvest International Bank Ltd.

“We were very impressed with the high level of regulation from the Cayman Islands Monetary Authority and the number of top-of-class service providers with physical presence in the Island. We understand now why the country ranks as the fifth-largest banking center in the world and look forward for a long lasting presence in the country.” states Charles Aboulafia, co-founder and managing director of Cainvest.

The Cohab/Aboulafia family owns an asset manager specialized in Latin American Corporate Eurobonds and a boutique Investment Bank in Brazil. The family also controls Trisoft Group, a conglomerate of manufacturing companies leader in the non-woven industry in Brazil.

Via EPR Network
More Financial press releases

Accounting, Financial Information, Financial Services, Money, Personal Finance, Taxes

Poor Quality Tax Preparation And Refund Anticipation Check Abuses In New Mexico

Between February 1 and April 18, 2011, First Nations Development Institute conducted 12 “mystery shopper” tests of paid tax preparers in New Mexico. These mystery shopper tests were conducted in communities with a high Native American population and close to Indian reservations. First Nations visited tax preparer sites in Gallup, Grants, Bernalillo, Farmington, and Albuquerque, New Mexico. The goal of the work was to assess the quality of tax preparation services and to test the hypothesis that the tax preparation firms are steering people toward expensive products, such as Refund Anticipation Loans or Refund Anticipation Checks.

This research uncovered several problems with inaccurate, unethical, or unprofessional behavior on the part of tax preparers. “In our small sample of mystery shoppers, it was shocking what we uncovered,” stated Shawn Spruce, a financial education consultant for First Nations. Spruce also shared,“Unfortunately, the companies that our mystery shoppers visited did a poor job preparing even basic tax returns and could have exposed them to serious tax liability. In general, we were startled by the low quality service and the fact that two of these companies automatically signed our shoppers up for expensive Refund Anticipation Checks, even though they could have directly deposited their tax returns into their own bank accounts.”

Michael E. Roberts, president of First Nations Development Institute, stressed the importance of conducting the mystery shopper tests and resulting research on tax preparers.

“This research reinforces what other studies have found,” stated Roberts. “There is a great need for better regulation of tax preparers so that low-income people can hold on to their hard earned tax refunds and avoid expensive and predatory products like Refund Anticipation Checks. It is unfortunate that tax time serves as an opportunity to exploit Native American taxpayers through high fees and unnecessary products that take money out of taxpayers’ pockets.”

On May 4, 2011, Spruce presented the findings in Tax Time Troubles, a First Nations Development Institute report that provides details about predatory, unprofessional, and inaccurate tax preparation firms serving often low income communities in New Mexico. Spruce was the evening keynote speaker at the Effective Asset Building Strategies in New Mexico conference being held at the Indian Pueblo Cultural Center in Albuquerque, New Mexico. This conference was sponsored by Prosperity Works, a nonprofit organization that works to reduce the impact of predatory lending and whose mission is to ensure that every New Mexican has the opportunity, knowledge and relationships to achieve economic prosperity.

Via EPR Network
More Financial press releases

Banks, Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

Saxo Bank Publishes OTC FX Options Market Information And Client Position Data

Saxo Bank, the specialist in online trading and investment, is first to publish market data from the FX Options OTC market. The data, which will be published three times a day on Tradingfloor.com, will greatly enhance traders’ understanding and ability to profitably trade FX as an asset class.

This initiative signifies Saxo Bank’s unique position as a leading market maker in the interbank OTC markets and exemplifies the value that Saxo Bank’s active participation offers to its FX clients.

Information included in the posts is:
– ATM volatilities, which shows the change in volatility of currency pairs
– 25-Delta Risk Reversal, the most widely used parameter in gauging market direction
– OTC Volume index, based on interbank OTC FX Options trade activity
– Market Pin Risk, which shows large strikes that have traded in the interbank market and may act as magnetic levels for the spot price in the future
– Charts, the graphical illustration of Risk Reversals and Implied vs. Historic Volatility
– Retail Position Ratio, which shows client sentiment (bullish/bearish) based on actual client positions
– Current FX Options Board Prices, which allows interested parties to see the competitiveness of Saxo Bank’s streaming quotes

Events in the OTC FX Options market have a direct impact on the development in the Forex spot market. Therefore, this type of data has historically been extraordinarily difficult and costly for traders to acquire. Saxo Bank is making this information publicly available to anyone interested in the Forex market, the largest and most liquid market in the world.

In a statement, Edward Voorhees, Global Head of Foreign Exchange at Saxo Bank, said:
“For market makers in the OTC FX Options market the trend has for some years been risk aversion, which has led to major institutions dramatically reducing their market making activities. Saxo Bank has remained very committed to its market making activities in the FX options space. The reward for being an active market participant is the valuable insight we gain. The options team at Saxo Bank is very proud to be able to share these insightful flow details with all our clients at no added cost.

Via EPR Network
More Financial press releases

Banks, Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

Saxo Bank Scoops Six Awards at the Euromoney Annual FX Survey 2011

Saxo Bank has picked up no less than six awards at the Euromoney annual FX survey 2011. The categories in which the online trading and investment specialist was voted into the top spot for are:

– Best Improved Overall Market Share By Volume ($10bn – $25bn)
– Best Improved Overall Market Share By Volume ($5bn – $10bn)
– Best Speed of Execution
– Best Research and Analytics
– Best Effective Risk Management and Execution Strategies
– Best Integrated Workflow and Compliance Solutions

Albert Maasland, Senior Vice President and Chief Executive of Saxo Bank London said at the awards ceremony in London last night: “These awards are an accolade to Saxo Bank’s experience in the online trading business and its recognition in the market place. Saxo Bank received more award wins this evening than ever before in our history. This follows our best full-year results ever. I am honoured to accept these awards on behalf of our two founders and my colleagues. All six awards reflect our ongoing commitment to respond to our broad client base and provide the FX market with consistent competitive pricing and leading value-adding products and services.”

The Euromoney annual Foreign Exchange survey is in its 22nd year. The survey is the industry’s leading review of FX trading, research and e-business capabilities and is widely considered as the benchmark league table for the FX market. The awards are a reflection of the efforts of the wider FX industry to provide the tools and functionality that make trading FX more efficient. Results are based on qualitative responses from thousands of companies around the world. Last year over 11,700 votes were cast in the survey, including those of treasurers, traders and investors.

Via EPR Network
More Financial press releases

Accounting, Assets, Financial, Financial Services, Money, Taxes

Stay On Top Of A Potential Tax Investigation As HMRC Increases Prosecutions

With new predicted figures the government has released, it appears the chances of you being on the receiving end of a tax investigation, and potentially a prosecution, are set to increase over the next few years. HMRC has set a new target for additional tax revenue of £18 billion over four years and for prosecutions of 1,000 a year – a 500% increase from the current 200 prosecutions a year.

This all comes at a time when the government is looking to rapidly reduce spending. As a result, it is likely they will be making these investigations and prosecutions without the same level of intelligence as before. These figures should not come as pretty reading for those who run a business or are self-employed.

An investigation can last for a long time and seriously get under your skin. Of course, you already have a busy and hectic lifestyle, and an investigation of this type can hamper your work and personal life. It is not a nice experience – as anybody who has gone through one before would tell you.

If you are at all worried about any of this, or if you have already been contacted by HMRC, do not worry. You should contact the experts at Rooney Tax Services, who can help you. They can represent you, deal with all the documents and paperwork, and pretty much take over the whole case.

Whether your problem is a local office investigation, a specialist investigation, a civil investigation of fraud or offshore disclosures under the new disclosure opportunity, Rooney Tax Services will do their utmost to assist you in an objective, clear and helpful manner.

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Services, Investment, IRA, Money, Personal Finance, Retirement

Prudential Reveals Two In Five Planning To Retire In 2011

Prudential has announced that two in five people are planning their retirement for 2011, even though many have received no advice or have relied solely on non-professional advice.

Two in every five people planning to retire in 2011 will do so having relied on non-professional advice as their main financial information source in the run up to retirement. Prudential’s Class of 2011 research studied the financial plans of this year’s retirees and found that 43 per cent have received no professional advice or relied on the internet or the media for most of their pension advice.

However, more than a quarter (28 per cent) of people intending to retire this year received most of their financial information from an IFA – a figure that remains unchanged since last year. But the study shows there is an increasing trend for people to conduct their own research before seeking pre-retirement financial advice. Half of those who said that an IFA was their main source of retirement income advice had also carried out research online and via the media – an increase from one in three in 2010.

Prudential also found that nearly one in ten (9 per cent) are relying on employers for pre-retirement financial advice advice while another 16 per cent are putting their faith in a mix of friends and family, pension providers and banks.

Russell Warwick, distribution strategy director at Prudential, said: “These results show that there is a genuine advice gap for people in the run-up to retirement. The majority of people due to retire this year will miss out on professional advice and could potentially be making mistakes when planning for their retirement income.

“It is imperative for people looking to secure their retirement income to start saving as much as they can as early as they can and in the years immediately prior to retirement I would also recommend a consultation with a professional adviser on an annual basis.

“Our research has also found that the numbers seeking financial advice prior to retirement in 2011 have not changed since last year. This highlights the work that we as an industry will need to undertake to increase consumer understanding of the value that advisers can add in the run up to the implementation of the Retail Distribution Review next year.”

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Services, Investment, IRA, Money, Personal Finance, Retirement

Prudential Reveals More than a Third are Delaying Retirement

Prudential has revealed that more than a third of people are delaying their retirement and putting their dreams on hold.

More than a third (38 per cent) of people due to retire in 2011 are cancelling their plans and delaying retirement and working longer, and a significant proportion (22 per cent) of these are doing so because they can’t afford to stop working.

The findings, from Prudential’s Class of 2011 study, revealed that those delaying retirement this year for financial reasons, had, on average, hoped to stop working at age 62 but now expect to be 68 years old before they can finally take up their state pension. The study, now in its fifth year, questioned people who had planned to retire during 2011.

Two fifths (40 per cent) of those delaying retirement in 2011 due to the financial strain that it will create, believe that they will have to keep working until they are 70 years old, or older, in order to retire with a comfortable income.

Prudential’s study shows that of all those planning to retire in 2011, 22 per cent now say they can’t afford to – a figure that has increased since 2010 when it was 15 per cent. In addition, 16 per cent of those planning to retire in 2011 do not want to quit working.

Vince Smith-Hughes, head of business development at Prudential said: “The only realistic option for those who want to avoid having to delay their planned retirement is to start saving as much as they can as early as they can.

“However, as inflation reaches 5.5 per cent and disposable incomes are reduced, Prudential’s research shows that people are postponing retirement to either build up their pension pots further or simply to continue in a job that they enjoy. When economic factors are combined with changes in legislation, such as the abolition of the Default Retirement age and an increasing trend of choosing to continue at work, it is easy to understand why more people are postponing their retirement plans.

Via EPR Network
More Financial press releases

Banks, Business, Currency, Financial, Financial Information, Financial Management, Financial Services, Financial Software, Financial Solutions, Forex, Investment, Money, Profits, Trading

Saxo Bank First To Offer Direct Online Trading In Brazilian Market

Saxo Bank, the specialist in online trading and investment, has launched four futures that will, for the first time, offer investors who are not residents in Brazil direct access to the Brazilian market. The products include the Bovespa Index and USD/BRL cross and enable investors to gain exposure to one of the currently most buoyant economies and hedge risks in their portfolios.

With this launch, Saxo Bank provides investors with four futures investment instruments – the BOVESPA Index, IBOVSPA Index Mini, BMF US Dollar Future and Mini BMF US Dollar – that are available on all of the bank’s platforms (SaxoTrader, SaxoWebTrader and SaxoMobileTrader).

Moreover, Saxo Bank expands its coverage to over 20 futures markets and more than 80 trading venues which can be accessed via a product range comprising more than 22,000 financial instruments.

In a statement, Pedro Brigham, director of the Latin region for Saxo Bank, said: “The rise in commodity prices has put Brazil on investors’ radars. Its excellent economic growth, political stability and a liquid market where over 3.5 billion US dollars are traded on a daily basis have made the country the clear leader in Latin America at a time when investors increasingly demand greater access to emerging markets”.

Claus Nielsen, executive vice president and head of markets at Saxo Bank, added: “The launch of futures trading in Brazil marks a significant milestone for Saxo Bank, and we are proud to be able to offer our global client base access to this vibrant economy. We look forward to expanding the list of available instruments in Brazil and to further add trading venues in emerging countries to our platform.”

Via EPR Network
More Financial press releases

Banks, Credit Cards, Financial, Financial Information, Financial Services, Financial Solutions, Insurance, Insurance Services, Loans, Money, Mortgage, Personal Finance

Confused.com’s Car Study Reveals The Vehicles Used By William And Kate

Confused.com has conducted a study to get some insight into the vehicles used by people called William and Kate in the UK.

Drivers called Kate or William (aged 28-40) are more likely to get behind the wheel of a Mini (Kate) or a Rover (William) than the average British motorist, according to a study of 8 million drivers in the UK carried out by car insurance comparison site Confused.com. The traditionally British iconic cars are favoured by Kates and Williams, with Catherines preferring to get behind the wheel of a Citroen. Drivers called William also favour X-type Jaguars, according to Confused.com data.

The research, which was conducted from a database of quotes carried out through the Confused.com site highlighted a number of differences between the driving habits of drivers named William, Kate and Catherine.

The data, which included 28-40 year old drivers in the UK, was overseen by Gareth Kloet, head of car insurance at the company. Kloet commented: “The upcoming royal wedding has increased the interest in the names William and Kate dramatically. With Confused.com data to hand, we have found that William and Kate’s around the UK have very sensible car models, a driving attribute that would expect from the royals.”

Confused.com have also discovered a number of statistics relating to the type of home and family expected for a William and Kate in the UK population, referencing data from 2.5 million home insurance customers. The data showed that only 60 couples were called William and Kate as registered on their home insurance policies.

Via EPR Network
More Financial press releases

Business, Commodities, Financial, Financial Information, Financial Services, Investment, Money, Trading

Business Monitor International Releases Japan Earthquake Implications Report

Business Monitor International has released a new special report which covers the probable economic and market implications of the Japan earthquake to the world economy.

Since the devastating Tohoku earthquake in Japan on March 11 and its terrible aftermath, there has been much speculation on the scale and scope of a potential nuclear disaster and the implications the disaster will have on the world financial markets. The special report seeks to provide some insight into some of the main economic repercussions ranging from the disruption to Japanese economic growth and markets through to the impact on commodity prices and the infrastructure sector.

Currently at least 6,000 people are known to have died and many thousands are still missing, with local authorities reporting that the final toll could exceed 10,000, which would be greater than the 6,400 killed in the Kobe (Hanshin) quake of 1995. However, while the human toll is disastrous, the infrastructure analysis provides the relatively positive news, if there is any, that Japan is better placed than many other disaster prone countries to respond to the crisis and Japan’s social cohesion should help it withstand a disaster of this magnitude better than many other countries. The participation of China and South Korea in the rescue efforts could also boost the previously strained relations between Japan and its neighbours.

Figures in the report show that there will be severe disruption to economic activity and that recession risks have returned to the fore, although at this stage the full impact is difficult to estimate. This comes at a time when it looked like export growth would boost overall GDP in 2011 following a 1.2% annualised contraction in Q410. While Tohoku is not a major economic centre, it still accounts for 8% of GDP and has numerous factories. Meanwhile, power outages across large parts of Japan, including Greater Tokyo, and supply chain concerns mean that major exporting companies such as Sony and Toyota have halted some operations indefinitely. Assuming that net exports place a sizeable drag on headline growth as exports cool and capital imports surge (as following the Hanshin earthquake in 1995), Japan may continue to suffer negative sequential growth in H111.

Other insights from the Japan analysis indicate that the Japanese government will need to spend heavily to rebuild the damage in the Tohoku region, around the city of Sendai, which will generate economic activity, but the costs will worsen Japan’s already dire fiscal deficit and debt burdens, and could put gross government debt through the JPY1,000trn level this year (an estimated 204% of GDP). Additionally, while markets will remain volatile in the short term, indications are that the authorities’ response to the crisis means that the medium-term view of a weaker yen (to JPY85.00/US$ in the first instance) remains on track, and the longer-term view of an eventual fiscal crisis is reinforced.

Other major areas looked at by the report include the risks for oil & gas prices, shipping, agriculture, automotive manufacture and the base metals industry, as well as important regional economic outlooks.

Via EPR Network
More Financial press releases

Debts, Financial, Financial Services, Loans, Money, Personal Finance

Payday Express Office Move Takes the Company to a Different Level

One of the leading payday loan lenders in the UK, Payday Express has just completed a beneficial office move that has given the company more space to enable expansion.

Up until recently, instant payday loans provider, Payday Express, was based in offices which due to the company’s rapid growth had become too small. This meant that the company was unable to make necessary expansions for certain departments in order to keep up with the increasing level of business.

Payday Express has now moved in to their new office, which is based in Bromley, Kent and located around the corner from its old office. The more spacious office has not only provided an improved working environment for the employees, but has opened up new opportunities for the company which will enable the business to be taken to a different level.

The project, successfully managed by Payday Express’ Operations Manager, Sarah Carroll, was made even more impressive by the speed with which the move happened.

Agents were able to work normal hours on the Saturday and come into work the following Monday and pick up where they left off with no disruptions.

Speaking about the move, Sarah said: “The new offices and the extra space have made such a difference to the employees. Aside from the obvious benefit of being able hire additional members of staff, it has also helped boost the team spirit and the feeling of togetherness in the company.

“It is interesting to be a part of a company that is constantly growing and offering new opportunities, and the office move has opened up more possibilities. We may only have moved around the corner from our old offices, but it has made a world of difference.”

The office move is the latest development that the quick payday loans company has put into action to boost customer service. Recent projects have included improving the company’s fraud prevention measures and increasing opening hours during the week and on Saturdays too.

Via EPR Network
More Financial press releases

Business, Financial, Financial Services, Financial Solutions, Money

Online Merchants Maintain Confidence Despite VAT Rise

Almost 50% of online merchants have reported that their sales are up on last year so far, despite the VAT increase in January, according to research by SecureTrading, the UK’s leading independent payment processor.

Approximately 10% of merchants have reported that sales are higher than expected, while 55% claim that sales are in line with their expectations.

Meanwhile, half of the merchants surveyed have taken on the increased VAT cost internally rather than pass this onto the customers. However, 20% have said they do plan to pass these costs on in the next three months, while 52% have no plans to pass these costs on in the future whatsoever.

Tim Allitt, Head of Sales & Marketing, SecureTrading, said, “ Many traditional high street retailers struggled in the run-up to Christmas and this has continued for some in the New Year. However, online merchant accounts are continuing to perform strongly despite the current economic challenges. With the continued growth of online shopping and the rapid take-up by consumers of smart phones, we expect to see this sector go from strength to strength despite the VAT rise. Merchants are working hard to deliver a great experience to their customers.”

Almost 20 per cent of online merchants have introduced VAT-beating promotions to incentivise customer spending. Many merchants are confident that 2011 will be an even better year for online retailing with 72% expecting to perform better than last year.

Allitt added, “Online merchants will have to increase their efforts in 2011 to continue to perform strongly. It’s essential that businesses partner with an experienced and secure payments processer to ensure they can meet customer expectations for a speedy and convenient service.”

Via EPR Network
More Financial press releases

Checking & Savings, Financial, Financial Information, Financial Services, Investment, IRA, Money, Personal Finance, Retirement

Prudential Reveals Number Of Poverty Line Pensioners On The Rise

Prudential has revealed that more than a third (35 per cent) of people planning to retire in the UK this year will do so with incomes below the poverty line.

To meet its minimum income standard the Joseph Rowntree Foundation, the charity that funds a large, UK-wide research and development programme, estimates that a single person in the UK needs at least £14,400 a year, yet 35 per cent of those retiring in 2011 will have a retirement income below this level, up from 32 per cent in 2010.

Prudential’s Class of 2011 study surveyed people intending to retire this year and also revealed that nearly one in five (19 per cent) will retire on an annual income of less than £10,000 a year.

Women planning to retire this year are even more likely to have incomes below the poverty line. 40 per cent of women retiring in 2011 will have a pension income of less than £14,400 compared with 30 per cent of men. Prudential’s research also found that a quarter (26 per cent) of women compared with 12 per cent of men will retire this year with less than £10,000 a year to live on.

Vince Smith-Hughes, Head of Business Development at Prudential said: “Although our research shows that increasing numbers of those planning to retire will face tough financial decisions, there are many options available to boost retirement income.

“People approaching retirement should seek professional financial advice as a prerequisite to maximising their income. We would recommend that you review your finances with an adviser annually in the years immediately before your planned retirement.

“Following the simple advice to start saving as much as you can as early as you can should help to secure the retirement income you want and need. Making voluntary National Insurance contributions should also help to boost retirement income for people who have had breaks in National Insurance payment during their working lives.”

Via EPR Network
More Financial press releases