Business News

Mutual Funds asked to make fee structures clearer & easier to understand

Britain's financial watchdog has urged Mutual Funds (MFs) to make their fee structures clearer, easier and more consistent as it would encourage people to make more savings for their old age.

The Financial Conduct Authority (FCA) said some MFs didn't provide investors with clear and consistent figures for charges in their prospects, marketing material or on websites.

Pfizer promises to keep British research jobs in the country

Pfizer Inc.'s chief executive Ian Read on Tuesday acknowledged that a potential takeover of AstraZeneca would lead to job losses, but it assured that the company's British research jobs would be kept in the country.

London’s housing crisis growing deeper

Housing crisis in London is growing deeper for middle-class people as demand for affordable houses is outshining supply, pushing prices up.

Pocket Living Limited, which uses interest-free funds from the city for constructing homes and selling them for nearly 20 per cent below market rates, said that the people who are neither rich nor poor are suffering the worst brunt of the housing crisis.

Centrica’s pay deals get the nod despite severe protests

Energy giant's Centrica's controversially high pay packages for executives got approval from its board, despite outcry and severe criticism by twenty protest groups.

EEF dismisses calls for boardroom quotas for women

Manufacturers' organisation EEF has said more steps should be taken to end male dominance in manufacturing companies' boards, but it dismissed proposals for fixing quotas to boost the number.

Glasgow store to exchange bitcoin for second-hand goods

A British store has become the first store in the country to allow customers to exchange their second-hand goods for the digital currency bitcoin.

CeX, a chain that purchases, sells and exchanges second-hand gadgets, announced that its Glasgow-based store would switch from the pound to bitcoin for a period of three days.