Finance in the News – w/c 08.06.20

Short summaries of recent articles we think you will find useful from some of the UK’s broadsheets.

FINANCIAL TIMES

“Wealth management faces fallout from coronavirus”
Pressure on fee income and investment in tech has intensified during the pandemic.
“Pension mis-selling probe prompts exodus of advisers”
Financial watchdog finds number of customers advised to transfer out is still ‘unacceptably high’.
“Active funds lead the way in UK market recovery”
£4bn inflows to retail funds in April after record outflows in March.
“Sharp spike in HMRC coronavirus scams”
Reports surge of people impersonating tax officials to obtain financial details during lockdown.
“Wealthy investors ride the storm”
The rich have a more optimistic financial outlook than those who manage their money.
“Pandemic will accelerate digital change”
Crisis brings welcome chance to promote technology without losing personal touch.

THE TIMES

“Should you be investing in China?”
A perfect storm of economic and political risks has raised growth fears.
“Markets are surging, but prepare yourself for a second slump”
Analysts warn of a “detachment from reality” as markets have surged despite the possibility of a second downturn when the economic realities of lockdown take their toll.
“Stamp duty deadline extended as movers struggle to sell old home during lockdown”
The government has extended the three-year period in which you need to sell your previous home after buying a new one in order to claim a refund for the stamp duty surcharge levied on second-home owners.

THE TELEGRAPH

“Scandal looms as DIY investors are ignored by firms that sell their shares on the cheap”
Ignoring smaller shareholders while fund managers make quick profits damages the integrity of markets, experts say.
“The property hotspots where coronavirus is boosting demand”
In parts of the country, the dire national price forecasts do not marry with reports of booms in new buyer demand since the market reopened.
“Energy prices at all-time lows but savings aren’t being passed on to consumers”
Wholesale energy prices have dropped 45% year-on-year but consumers are not benefitting.

THE GUARDIAN / OBSERVER

“Take a trip down memory lane in search of better returns”
Memorabilia and antiques sales are booming for people with spare cash and plenty of time on their hands.
“Savers facing ‘summertime of sadness’ can still build financial safety net”
Some UK households in Covid-19 lockdown have spare cash and should shop around for best rates.

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Source: https://www.techlink.co.uk/