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    JEFF PRESTRIDGE: Invesco is putting its financial interests above those of shareholders - it should let 'Enhanced Income' go to the investors

    Investment management is a lucrative industry, generating great wealth for those professionals who are good at it – and, yes, some who are no more than average. As clients, our rewards for giving them money to invest are usually at best modest, although if they grow the value of our investments we are usually content to let matters rest.Success should always be rewarded, but the suspicion remains that the current balance between the interests of the supplier (investment manager) and buyer (investor) is hugely skewed in favour of the former.  The City regulator has demanded that asset managers be more transparent about ...

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    BIG SHOT OF THE WEEK: Johnnie Boden, founder & creative director of Boden, is a honking great Hooray

    Toff: Boden founder and creative director Johnnie BodenJohnnie Boden. The mere mention of his name is enough to conjure up wholesome images of yummy mummies on Cornish beaches, children sploshing through muddy fields or slobbery labradors beside a warm Aga.He is the creator of those brightly coloured togs from slush-filled catalogues which at one point would drop through our letterboxes more frequently than takeaway menus.Fans of his designs – which have mumsyish names such as ‘hotchpotch dresses’ and ‘ditsy print tops’ – include such Middle England style icons as Kirstie Allsopp, SamCam, ‘the lovely Jools’ Oliver, well, you get ...

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    ALEX BRUMMER: The City is Europe's dominant financial sector and will continue to be so after Brexit

    Germany doubtless is the strongest economy in the EU. Through the European Central Bank's emergency financial assistance it is single-handedly propping up Italy (£393billion at last count) and much of the eurozone.Yet its banking system is a mess. Deutsche Bank is hanging on by its fingertips after Standard & Poor's lowered its credit rating to BBB+ and the US regulator, the Federal Reserve, described it as 'troubled'.New chief executive Christian Sewing insists: 'Our financial strength is beyond doubt.' Deutsche failed in its quest to become a global investment bank and lacks domestic heft so needs to find a European clientele ...

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    CITY DIARY: Renaissance Technologies boss James Simons is the world's highest earning hedge funder again, raking in £3.4m A DAY

    New York-based Renaissance Technologies boss James Simons is, for the second year running, the world’s highest earning hedge funder, raking in over £1.2billion last year, which works out at £3.4million a day. A reclusive, professor-like figure, bearded Simons, 80, is something of an enigma within the hedge fund community where he’s known as Elvis. Why so? ‘Because he’s the king and you always know when he’s left the building.’  New York-based Renaissance Technologies boss James Simons is, for the second year running, the world’s highest earning hedge funderThe resignation of Pensions Regulator boss Lesley Titcomb, who’s stepping down from her £225,000-a-year role ...

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    MAGGIE PAGANO: Time to ban rip-off interest rates, targeting society's most vulnerable

    The fact that people can end up paying £1,500 for a £300 cooker because of sky-high interest rates is an outrage, and should be banned. There is no room in a civilised society for this level of usury.Nor is this an isolated case, but one of many uncovered by the Financial Conduct Authority (FCA) during its investigation into high-credit.There are up to 400,000 people using such egregious credit schemes, where they pay three to four times the original cost of the product. They are inevitably the most vulnerable in society: single parents aged 18 to 34 are three times more ...

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    DAN HYDE: Insurers stack the odds as they find sneaky ways to wriggle out of paying claims in your hour of need

    It's supposed to be one of those run-of-the-mill tasks we all plod through each year, but insuring your home, car or holiday seems to be turning into a hideous game of heads they win, tails you lose.On one hand, as Money Mail’s investigation in Saturday’s paper revealed, you have firms spying on your shopping habits and social media posts to hike prices if they think you are less likely to switch providers.And on the other, as we reveal today on pages 38 and 43, insurers are finding sneaky ways to wriggle out of paying claims in your hour of need. ...

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    CITY DIARY: Savile Row tailor owner says he'd love to dress James Bond but is unwilling to waive the £150K bill

    Lustrously-maned hedge funder Pierre Lagrange, owner of Savile Row tailor Huntsman, says he’d love to dress James Bond but is unwilling to waive the bill as film makers would expect. Kitting out the famous secret agent is a costly business. Around 30 suits are required for each action sequence, which in Huntsman’s case would cost around £150,000. Meanwhile, Belgian-born Pierre is unimpressed with Bond’s current threads, which are created by Texan designer Tom Ford. ‘Too skinny and too tight,’ he scoffs. Lustrously-maned hedge funder Pierre Lagrange, owner of Savile Row tailor Huntsman, says he’d love to dress James Bond but is unwilling ...

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    MAGGIE PAGANO: Rome sparks euro fears with the prospect of new elections as early as June

    The prospect of new elections in Italy as early as July sent shivers around European financial markets yesterday after a sell-off in Italian bonds sent yields to their highest level for years.Ten-year bonds were hammered with yields spiking above 3 per cent, trading at their widest gap to German bonds in over four years.These are big swings. Yields move inversely to a bond’s price so the higher yields reflect how nervous investors are about lending to Italy’s government, whose debt is about 130 per cent of GDP. Higher yields means the cost of borrowing for Italy’s government becomes more expensive. Maggie ...

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    THE PRUDENT INVESTOR: My wife wanted a bigger kitchen, so I sold at the worst moment possible!

    This column is my personal journey through the world of investment. It is not financial advice and should not be treated as such. It will not tip shares. I’ll leave that peril to others.It is about your investments as well as mine, so I am keen to hear what issues interest you - send your emails to prudentinvestor@Celebrity Rave.co.uk. I will endeavour to tackle some in this column, but I cannot provide individual responses.Mrs Hazell was to blame. Her announcement that we must extend the kitchen coincided with a stock market plunge when we voted to leave the European Union. ...

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    MAGGIE PAGANO: British retailers must adapt or die in the internet age

    Netflix briefly overtook Disney this week to become the most valuable ‘pure media’ company in the world, worth a staggering £113.5 billionn.The rise in Netflix’s shares follows recent figures showing phenomenal growth, with more than 125m subscribers in more than 190 countries and viewers watching around 140m hours of its programmes each day.If it keeps going at this pace, Netflix predicts 360 million subscribers by 2030. Sign of the times: Netflix is a great example of how innovation is not solely brought about by new devices, ideas or methods, but by the process of uncovering new ways to do thingsNetflix is ...

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    JEFF PRESTRIDGE: 'We want to highlight the good work other financial institutions are doing to keep communities up and down the country vibrant'

    It is time to change tack. Today, but not before the shedding of the odd tear or two, we put to rest our long-standing Save Our Banks campaign. A big thank you to all those who have supported us along the way.In its place, and on a more positive note, we are launching our Keep Our Communities Open For Business campaign.Instead of continuing to lambast the big banks for shutting their branches, which in recent years they have done in droves – and will continue to do – we now want to highlight the good work that other financial institutions are ...

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    BIG SHOT OF THE WEEK: Oil is a brutal and murky business... and BP boss Bob Dudley bears all the scars

    BP boss Bob Dudley is a man who bears all the scars of the ruthless oil businessOil, so the cliché goes, is the earth’s lifeblood. It is what powers our vehicles, lubricates our machines and helps drive a nation’s economy.Our hopeless addiction to the stuff means it has been responsible for more international fisticuffs than any other industry since time began.‘The excrement of the devil,’ was how Opec founder Juan Pablo Perez Alfonzo’s described it, and he wasn’t wrong.This murkiest of businesses is not for the faint heart. Practitioners must do battle with, among others, ruthless speculators and tinpot ...

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    CITY DIARY: City law firm Linklaters asks its lawyers to declare their office romances

    Hotshot City law firm Linklaters has asked its lawyers to declare any office romances to ensure 'any actual or potential conflict of interest' is properly managed. It has also launched an external whistleblowing hotline, so staff can report any untoward behaviour. The legal industry is a hotbed of incongruous activity. Industry watchdog the Solicitors Regulation Authority says sexual harassment complaints by lawyers tallied at one a month last year in the sector.There's been an outbreak of mumps on Goldman Sachs's New York trading floor. Several of the bank's employees have been sent home after contracting the virus, which results in a chubby, ...

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    ALEX BRUMMER: The global financial system seems safer... but risks have just been moved from one bucket to another

    As an addict of the US financial channel CNBC, one never fails to be impressed by the eternal optimism on display.Even now with the key equity indexes close to the peaks of last year, the pundits, many of them fund managers, cannot help themselves but be optimistic.The present view is that the Standard & Poor’s 500, the broader measure of share prices, is being driven ever higher on better than expected earnings. Peaking? A combination of Trump corporate tax cuts and the US economy expanding like a train is driving share valuesA combination of Trump corporate tax cuts and the ...

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    Rise in student loan interest is a scandal, says JEFF PRESTRIDGE

    Despite recent glorious weather, thousands of university undergraduates – and A-level students with ambitions to take their studies further this autumn – have been busy cramming for vital early summer exams.If this were not enough stress to carry on their young shoulders, those who depend on student loans to fund their university studies have now been landed with an extra anxiety – knowing that the degrees they are working towards are going to cost them a whole lot more. This is because the interest on loans for new starters – and those currently in the throes of their studies – ...

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