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ECB cuts rates again in bid to lift fragile eurozone

The European Central Bank (ECB) has cut interest rates for the second time in three months in a bid to boost the eurozone’s fragile economic recovery.

The ECB has cut its main rate, which is used as a benchmark for consumer borrowing, from 0.15% to 0.05%. The rate was cut from 0.25% in June.

After entering unchartered territory by introducing a negative deposit rate in June, the ECB has now raised the amount it will effectively charge banks to park their money with it. The deposit rate has been cut from -0.1% to -0.2%. Rates on the ECB’s marginal lending facility have meanwhile been cut from 0.4% to 0.3%. That rate was cut from 0.75% in June.

BLOG: The FTSE and the golden rules of investment

With the FTSE reaching a 14-year high and some wary that the only way to go is down, Liz Field reminds investors of some golden rules.
Yesterday the FTSE 100 reached a 14-year high of 6898.62, bringing good news for investors. However, there remains a degree of uncertainty from market commentators to whether we could potentially be on the verge of another fall in the stock market. For first-time or budding investors there is bound to be a degree of nerves. Yet, it is always important to remember the golden rules of investment.

SA too harsh on itself – adviser

SOUTH Africa’s low scores on the World Economic Forums’ (WEF) Global Competitiveness Report 2014-15 compared to the rest of sub-Saharan Africa is likely the result of the business community showing frustration at the country’s failure to meet its expectations.

“Are we to believe that South Africa’s bureaucracy is less competent than Kenya, Tanzania and Zimbabwe? Do business people really think that the education levels of our workforce is 10 times worse than in Kenya and more than twice as bad as a failed economy like Chad’s? No wonder we look bad to the rest of the world when we show such low regard for ourselves,” said Conrad Litchfield, an investment adviser with one of the country’s multinational banks.

“It’s time South Africa’s business community stops making ‘own goals’ because we like to complain, and take a more realistic assessment of what we are compared to the rest of Africa. We’re not paradise but does anyone think that crime in South Africa is eight times the problem [that it is] in Zimbabwe?”

Create Indestructible Wealth Launches Social Media Giveaway

 

Paul Mata is giving away $4,000 worth of prizes to fans who simply comment on their passion, like the company on Facebook, and follow them on Twitter.

Rancho Cucamonga, California (PRWEB) September 08, 2014

Create Indestructible Wealth has announced a flash Ultimate Prize Giveaway. Starting on Thursday, September 4th, 2014, those who “Like” Create Indestructible Wealth’s Facebook page, follow the company on Twitter and comment what their passion is will be entered in an online contest to win an ultimate grand prize package worth over $4,000. Everyone can increase their chances of winning by tagging their friends. For every 5 friends tagged, 1 more entry will be placed.

“With the increasing popularity of social networking, it seemed fitting that we accelerate our use of Facebook and Twitter as tools for connecting and communicating with our customers,” says Paul Mata, CEO of Create Indestructible Wealth. “And this Ultimate Grand Prize is an added incentive to encourage customers to engage with us on those platforms.”

Charles Stanley issues second profit warning in five months

LONDON, Sept 8 (Reuters) – British stockbroker and investment manager Charles Stanley on Monday issued its second profit warning in five months, saying increased costs and a low volume of transactions had impacted margins.
“Whilst management have taken actions to reduce the cost base and boost income the board now expects that, barring a significant improvement in the markets, trading results will be materially below current market expectations,” it said.
Charles Stanley said total client funds stood at 20.5 billion pounds at the end of August, up 1.9 percent on the total at the end of March.

Muted colors, sleek looks at Victoria Beckham show

NEW YORK (AP) — There were lots of stripes, muted colors and sleek looks as Victoria Beckham presented her spring/summer collection, which she says is a redefinition of her line.
Beckham had her show in a cathedral-like hall off of Wall Street — an apropos setting for her clothes, which looked like they were designed for a stockbroker looking for something that was glamourous, sexy — but still workplace appropriate.

Colors take front row seat at NY Fashion Week

Sunday was a day for remembering and looking ahead as New York Fashion Week continued in Manhattan.

Early in the day, one of fashion’s own (albeit a sharp-tongued one) was remembered at Joan Rivers’ funeral. Among the guests: designers Carolina Herrera and Michael Kors, and E! network “Fashion Police” co-hosts Giuliana Rancic and Kelly Osbourne.

Victoria Beckham took a conservative approach to spring 2015; Joseph Altuzarra went for girly naivete inspired by Roman Polanski and Stanley Kubrick. And Public School went coed. Nanette Lepore was inspired by the beaches of California and the south of France.

Why Charles Stanley Group plc Is Falling Today

Investment manager Charles Stanley (LSE: CAY) is falling today, after the company warned that thanks to a lower than expected number of client transactions, trading results will be materially below current market expectations.

In what can only be interpreted as a profit warning, Charles Stanley warned that despite improving fee income on discretionary funds, rising costs and a lower level of commission income had put pressure on profit margins.

The good news is that at the end of August, total client funds stood at £20.5bn, an increase of 1.9% from the level recorded at the end of March. Total managed funds expanded by 4.7% over the same period.

David Bach: Smart Advisors Finish Rich

David Bach, now a partner at Edelman Financial, is rereleasing "Smart Women Finish Rich."David Bach, now a partner at Edelman Financial, is rereleasing “Smart Women Finish Rich.”

With the first of his 11 bestselling books, David Bach hipped folks on how “Smart Women Finish Rich: 9 Steps to Achieving Financial Security and Funding Your Dreams.”

Smart advisors finish rich, too. Take Bach, for example.

A former senior vice president at Morgan Stanley with $750 million in assets under management, by age 30 he was a millionaire — only two years after joining predecessor firm Dean Witter as a trainee. Then he set another goal: to become one of North America’s top financial experts by educating consumers — women, in particular — on how to manage their money.