November 4, 2011
Filed under: General — admin @ 10:32 am
An Advertising Feature
Advertising is a funny old business. I should know, I’ve been employed as a copywriter for more years than I’d care to remember. But one of the perks, if you happen to work for a large international agency, is the opportunity to occasionally work abroad.
Not so long ago I took a trip at the last minute to Chicago. Our Creative Director’s PA who was frighteningly efficient managed to compare flights online and find an amazing deal for my working partner and myself to fly American Airlines the next morning, first thing. Better still, when the following morning dawned, and my colleague and I shuffled, bleary-eyed to the check-in desk at Heathrow, we were, for some unfathomable reason, upgraded from Business to First Class. So the pair of us in our tee shirts and jeans traipsed over to the First Class Departure Lounge to take our place among the dapper suited businessmen.
It was a good start to what turned out to be a thoroughly enjoyable business trip. This was largely down to the fact that we hadn’t been asked to the Chicago office to produce any creative work. Instead we had been invited to take part in an advertising awards scheme. Let me explain: advertising agencies are obsessed with winning industry awards to demonstrate to potential clients and the world at large, how brilliantly clever they are at selling stuff in a creative and intelligent way.
Now, as it happens, this rather large global agency for whom I worked (and I won’t name names) didn’t have a terribly good track record in this department, so not to be outdone, some bright spark in the New York office had suggested the idea of creating an awards scheme just for the agency’s offices around the world. This way the agency could award itself the awards it so desperately craved. Brilliant.
So there we were, locked in a room with representatives from New York, Chicago, Paris, Milan, Barcelona and Helsinki, deliberating over a bunch of ads and direct mail pieces which had been submitted by all the offices in the network in the hope of winning one of these fabulous awards. I might add here that the awards themselves had been created at great expense and did look rather splendid.
The very good news, however, was that judging would only take place in the morning, and following lunch, we’d be free to explore Chicago at our leisure before flying back home.
As a result, we set off for the Willis Tower (formerly known as the Sears Tower). From its 103rd floor you can walk around its Skydeck, 1,353 feet up, and take in the most spectacular views of this majestic city of glass and steel set against the backdrop of the vast Lake Michigan, and the surrounding areas of Illinois, Indiana and Michigan.
Back at street level we headed for the famous Marshall Fields department store (now Macy’s). I’m not a keen shopper but this building is well worth a visit. The store can trace its heritage back to1880 and this lovely building was completed in 1906. On the top floor there is an impressive and rather touching plaque proudly displaying the names of all employees who had completed 50 years loyal service. The list is remarkably long.
As for those advertising awards, I remember very little indeed.
Alex Pearl is a freelance copywriter and author of ‘Sleeping with the Blackbirds’.
http://sleepingwiththeblackbirds.co.uk http://alexpearlmini.carbonmade.com
September 12, 2011
Filed under: General — Alan @ 10:23 pm
Global regulators have been called on by banks to adjust their plans for the closure of lending institutions who have failed. The banks have said that the current proposal doesn’t ensure cooperation between the regulatory bodies in the times of an international crisis.
The proposals, which were published in July have been criticised by the British Bankers’ Association for leaving to much scope for national regulators to just act in their own interests and this will come at the cost of overall stability.
The leaders of the worlds top 20 nations have asked the FSB to agree on how failing banks should be brought down in order to prevent more fall out than necessary to the rest of the financial system. There are two main options currently, one of which involves the sale of the banks assets. Another is for it to be dramatically scaled back in size and function as a smaller entity.
The new guidelines by the FSB require that banks will have to decide what should happen to them should they have a crisis. Angela Knight from the British Bankers’ Association has said, “The regulations need to be sufficient and clear and allow countries the time to implement measures.”
September 2, 2011
Filed under: General — Alan @ 4:33 am
The Confederation of British Industry has noted that business volumes have fallen for small businesses working in the service sector in the last quarter. The information released by CBI has said that the fall has been over 20%, and they note that this has been the most significant drop since late 2009.
In the consumer services area, values declined around 15%, while business volumes dropped 25%. Richard Woodhouse from CBI has said, “This is further evidence of the decline in the services sector. With the economy the way it is people are having to cut back their spending and this will affect the amounts that households spend on services.
“Something that we did not expect was the fall in business and professional services as well, we thought this would remain steady or grow. This type of services has continued to grow its staff numbers however while consumer services are restricting hiring at the moment.”
August 16, 2011
Filed under: General,Small Business News — admin @ 8:05 am
An Advertising Feature
In the past five years there has been a significant rise in the number of customers making official complaints regarding their bank, building society or credit card company. Many of these complaints relate to the sale of payment protection cover. Sometimes known as PPI or loan insurance, payment protection is sold with credit cards, loans and mortgages. It is meant to protect a customer if they cannot work due to accident, sickness or involuntary unemployment by stepping in to take over their repayments. Unfortunately, PPI doesn’t always provide the level of cover you may expect, can be very expensive and has often been mis-sold.
One of the major reasons customers choose to make a payment protection insurance claim is because of the high number of exemptions attached to many payment protection policies. Exemptions are things that the insurance does not cover and usually includes pre-existing medical conditions as well as common ailments such as back pain, depression and stress. In most cases customers do not find out how many exemptions their policy has until they try to use it. One survey conducted by the Competition Commission, in 2008, found that just 15% of customers who tried to use their loan PPI policy received a payout – for credit card PPI the figure was just 11%!
If the terms, conditions and exemptions of your policy were not clearly explained this may be considered grounds for a claim for mis-selling and you may be entitled to make a PPI reclaim.
Another criticism of payment protection cover is the high cost of policies. Loan PPI usually costs between 13%-25% of the loan value. The cost is added to the loan and will incur interest meaning your debt and repayment period may be considerably increased. If your lender did not fully explain the cost of your PPI this could amount to mis-selling and you may be able to make a claim.
Although a failure to explain the terms and costs of a payment protection policy can be considered mis-selling there are many other circumstances in which a policy may be regarded as mis-sold. If you were told the policy was compulsory or that taking out the cover would improve your chances of being given credit you were given the wrong information and could make a claim. Likewise, if you felt pressured into taking out a policy or it was added without your knowledge.
One of the most significant forms of mis-selling is where policies were sold to customers who either didn’t need or couldn’t use them. If, for example, you have cover in place elsewhere or were in secure employment with full sick pay entitlement, you may not have needed the cover and it probably should not have been offered to you. In the most severe cases customers were sold policies they were ineligible to use. A common example here is customers over the age of sixty-five who usually cannot be covered and customers who were retired, unemployed or in full time education and who obviously wouldn’t need to be covered for loss of employment! If you think you were mis-sold a policy that you didn’t need or were ineligible to use, you are entitled to make a claim for compensation.
You may also be able to make a claim if you have paid unfair credit card charges in the past. A 2006 investigation by the Office of Fair Trading found that bank charges applied by some banks and credit card companies for late payments and over the limit fees were unfairly high. Some banks were found to have applied charges of up to £35 claiming they were necessary to cover costs, but the Office of Fair Trading found that a maximum charge of £12 should be applied for late payment and over the limit fees. As a result of the investigation, most lenders have lowered their charges. The investigation has also opened the door for customers who have paid unfair fees in the past to start claiming back bank charges.
If you have paid unfair credit card fees or been mis-sold payment protection cover you have the right to make a claim. More than a million unhappy customers have already registered a complaint and many have received thousands of pounds in compensation. You have the option to speak to an advisor at The PPI Claim Company to discuss whether you have a case for mis sold ppi.
July 23, 2011
Filed under: Business Finance,General — admin @ 10:30 pm
Self-Investment Pension Plans, or SIPPs, are the latest buzz product in the world of pensions. Although they aren’t a new product per say, the recent and sudden rise in their popularity has got everyone talking about them. In laymen’s terms, saving for when you retire using a SIPPs plan gives you a much greater flexibility and control over your savings and investments.
As opposed to a normal pension plan which holds your money in a set plan or equity and relies mainly on interest to boost the fund, you get to choose exactly where you want to invest your money. This also ensures that your investments are tailored to your needs instead of your money being placed in markets and equities selected by others.
Anyone who is over the age of 18 and has been a UK resident for at least 5 years is eligible for a SIPP. The flexibility appeals to those who are comfortable about making their own investments, and taking control of their destiny so to speak. It is for this reason that SIPPS had previously been so popular in the trade, with the likes of pension personnel, investment bankers and the like choosing this method of saving for their retirement.
If you reasonably savvy when it comes to investments and are looking to build up your pension fund using a flexible and tax efficient method, a SIPP could be a perfect choice. As long as you accept that projected growth isn’t guaranteed and you are prepared to tie up your money until you are at least 55, as well as bearing in mind that tax treatments many also change over time.
The flexibility is the big selling point of SIPPs, and many enjoy the fact that are given the opportunity to explore a wider range of investment opportunities, and also those who have been in business much prefer to have sole control over their investments rather than leaving them to somebody else to sort out on their behalf.
Now as great as they seem, like every product in this market, a SIPPs plan won’t suit everybody. Those who want unrestricted access to their money need to look elsewhere, as do those who want to invest directly in such equities that aren’t currently covered by SIPPs, such as commercial properties. Take time to weigh up the pros and cons before opting for a SIPPs plan, and make the correct and informed choices regarding your pension.
July 13, 2011
Filed under: General — admin @ 1:47 pm
During the thick of the recession many expected that credit insurers would have a hard time staying afloat with the sudden increase in reinsurance premiums that were an after effect from the recession. In fact, during the 2009 renewal season many brokers saw major credit insurers try to lessen their own risks by choosing to pass through Lloyds of London or other similar markets. Even today Lloyds is still feeling the after effects of this change as their increases were much higher than they expected and even though the company almost found itself bankrupt during the nineties, they are now pulling ahead stronger than ever.
In fact, the company seems to be more than stable as it continues to increase its hold on other regions of the world moving a few years ago into new regions such as Brazil. This move was significant given the fact that Brazil is thought to be one of the top growing economies in the world right now and is actually a very low risk area when compared to other areas such as the hurricane epicentre that is known as the Gulf of Mexico. In other words, there is not a great deal of threat to Brazil both in terms of political unrest and natural disasters.
Lloyds also expanded into China over the last few years after it received its official licence to trade within the country allowing them to write reinsurance business over about 90% of the Chinese market, which opened up their doors and the potential for underwriting home grown Chinese insurers who were interested. Given the fact that losses can occur just about anywhere for reasons that cannot be predicted, whether it be an economic recession, political unrest, or as mentioned natural disasters, by spreading the risk of insurance around the world then losses can be offset when they occur unpredictably.
This is one reason why the reinsurance market can be a great way to buy into a little peace of mind because with the right insurance and the right premium, you can rest assured that your investment and money will be well guarded.
June 24, 2011
Filed under: General — admin @ 10:40 am
Spread betting developed in the 1970s as a hobby of off-duty City traders, initially focusing on the price of gold. The following two decades saw diversification into forex, sports betting and equity, which remains the main focus of spread betting today. It represents a tax-efficient, albeit highly risky, way to speculate on financial markets as profits are not subject to UK capital gains or stamp tax, and no actual purchase of stock occurs.
A spread bet is a bet placed on whether an outcome will be above or below a spread of values determined by the spread betting company used. Financial betting requires a bet to be placed at the offer price if you think the index will rise, or the bid price if you think it will fall. When the bet is closed the difference between the actual price of the index and the price at which you placed the bet determines the profit or loss you make. It is possible to make large profits from market movements in either direction, but also large losses.
The real boom in spread betting occurred in the late 1990s with the online revolution resulting in stock trading becoming accessible not just to professional traders but to anyone with access to the internet. This has resulted in a highly competitive market for spread betting providers, with narrow spreads and efficient customer service a key feature of the top businesses. The increasing interest in financial betting has continued since 2000, with a corresponding increase in spread betting companies. Over a four-year period between 2005 and 2009 the number of providers in the UK trebled. One company, GFT Global Markets UK, saw the number of daily bets placed increase from hundreds to tens of thousands when online betting was introduced.
The growth of spread betting in the UK has been so rapid that traditional stockbrokers have started to feel the effects, and some have set up spread betting businesses alongside their existing services. However, the volume of conventional trading in the underlying markets is thought to far outweigh that of spread betting. Since spread bets will be hedged with a CFD, in turn hedged using the underlying stock, traditional trade in stocks will not be adversely affected. In this way spread betting is seen as providing an alternative option mainly for the private trader rather than corporate or institutional investors.
To attract new customers providers pride themselves on ultra-efficient service and most will offer bonuses such as free demo accounts for newcomers to practise before placing real bets, and the opportunity to start accounts with as little as £50. Following a number of investigations and fines by the Financial Services Authority companies are starting to provide basic training and guidance for new customers to counter accusations that they provide insufficient warning of the risks of spread betting to inexperienced traders. The competitive nature of the market means that spread betting businesses rely on their reputation and service to maintain loyalty and attract new customers.
The recent development of apps and mobile trading platforms has allowed the top financial betting providers to tap into this market with a variety of mobile products, allowing customers worldwide instant access to their accounts and trading tools. This has been particularly popular with sports spread betting, as combined with the availability of live sports broadcasts it has the potential for a large increase in the number of bets placed. It is expected to appeal particularly to private traders, with its full potential as yet still unrealised.
Although hard to predict, it is anticipated that the growth in spread betting in the UK is likely to continue, but companies must continue to evolve with modern technology to maintain their place in the crowded market.
Article Courtesy of www.etxcapital.co.uk.
April 21, 2011
Filed under: General — Alan @ 6:52 am
A new report from CBI has indicated that one of the highest income taxes in the world and the FSA regulations are deterring overseas businesses from investing in the UK. This is very much putting the country’s economic recovery in danger.
The new report “Making the UK the best place to invest” brings together the testimonies of 400 CBI members which have been collated through opinion polls and one-on-one interviews. It also suggests that the desirability of the UK as an investment opportunity has seriously declined over the past 10 years. This isn’t being helped by the competition from overseas which is increasing all the time.
The burden of the FSA regulations is seen as an ‘investment blocker’ so say the CBI, who also cites the UK as 89th out of 139 countries in the World Economic Forum. This is the same ranking as Nigeria. Due to the continuing reduction on spending in the consumer and public sectors, business investment is seen as a vital component of the Country’s recovery.
The report also says that where bank taxes are concerned, in particular Solvency II and Basel II, the UK is out of sync with its competing countries and is risking its advantage of being a world leader in the insurance and banking sectors. The European CE of Fidelity Int. Robert Higginbotham is quoted in the report as saying that Business jobs and opportunities are going overseas, and the Government must have a look at why that is.
The report carries on by saying that International firms are heavily influenced by the tax regimes of countries they are looking to invest in, and the 50% top rate income tax and high corporation tax are both acting as deterrents.
April 14, 2011
Filed under: General — Alan @ 8:36 am
You may remember that back in November, David Cameron revealed that he had a vision of creating a British equivalent to Silicon Valley. He called his vision an ‘East London Technical City’. But now fears that current laws might cause some problems.
The laws that currently exist for intellectual property, or IP, could possibly be a major barrier for small to medium sized enterprises which are looking to set up business in the UK. But, surprisingly, it’s debatable whether the companies themselves agree. The PM said during the launch that some of the digital companies he hoped to attract might have problems with the copyright laws in Britain.
He quoted a statement from Google, who have said that they could never have started up their business if they had been in Britain. He added that their service relied heavily on taking snapshots of Internet content, and that the copyright system was not as friendly towards this kind of innovation as it was in the US.
He has now launched an independent review into the present IP laws, and the report is due within a few weeks. Some of the proposals could have a major impact on the governing of copyrights in Britain. Mr. Cameron says that the outdated laws need to reflect today Internet reliance upon spontaneous technological innovation. Just as many flout the copyright laws about installing antivirus software on more than one PC within a household, enforcing copyright laws in the digital realm is becoming increasingly difficult. The internet is constantly evolving, a more flexible approach to copyright laws, based on the American model, may be the only way to keep pace and for a Silicon Valley to be made a reality in London.
IFF research have drawn up a report that looks into the impact that the current laws of copyright would have on these companies, and shows a massive difference of opinion within the industry. Many actually doubt whether the fears of Google and Mr. Cameron are shared by those in the industry. The research was actually commissioned by Google, before being submitted to the Hargreaves Review.
March 19, 2011
Filed under: General — Alan @ 6:58 am
The driving force in the economic recovery in the UK will be the SME sector says Cisco in a published research report and that it is important for the 2012 Olympics to kick start the UK economy.
The Business Heroes Barometer, published by the networking giant, says that the opportunities that will come from the Games have been recognized by over 40% of the small businesses in the UK and an almost equal percentage know the key role the Games will play in helping the economy in London and beyond.
The worry of a double-dip recession may have been scotched after the report found that sales had increased in the last 12 months in 44% of the SMEs according to David Critchley, the Cisco UK and Ireland SME director. Adding it shows a testament to their role as the kick starter of the economy by having almost half of the SMEs show an increase in sales when there was talk of nothing but negativity.
IT and network infrastructure in 2011 were planned by 55% of firms in the survey with video conferencing interesting 35% and 25% interested in changing to a cloud environment with 72% planning technology investing.
« Previous Page —
Next Page »
