Connect with us

Business

Lookers credits higher sales to Britons’ enhanced fears of public transport

Published

on

lookers credits higher sales to britons enhanced fears of public transport

Car dealership Lookers has credited Britons’ growing aversion to public transport for helping their sales recover after being forced to close their sites for two months.

The company revealed it sold more than 42,000 vehicles between July and the end of September, a 13.6 per cent like-for-like rise on the same period last year.

Both new and used cars experienced substantial increases in sales, and the group said its performance last month went ‘particularly well’ even as new car registrations across the UK remained depressed.

Lookers says sales have grown due to Britons' greater reluctance to travel on public transport

Lookers says sales have grown due to Britons' greater reluctance to travel on public transport

Lookers says sales have grown due to Britons’ greater reluctance to travel on public transport

New unit sales shot up by 27.1 per cent on 2019 levels as the reopening of stores and customer qualms about travelling on trains and buses released pent-up demand.

Meanwhile, trade in used vehicles increased by a more modest 6.2 per cent and it anticipates its third-quarter results to show underlying pre-tax profits being ‘significantly ahead’ of last year.

Chief executive Mark Raban commented: ‘Our decisive self-help measures, combined with better than expected trading in Q3 and strong support from our brand partners, have helped the Group emerge from lockdown in a strong position.

However, the temporary shutting of their dealerships at the pandemic’s outset is expected to cause Lookers a first-half loss.

In addition, it declared its hopes of publishing its 2019 financial results in November. Release of the figures has been delayed by a fraud probe initiated in March just as the car retail market was entering a downturn.

The investigation has already uncovered a £19million black hole in the automotive seller’s accounts and led to the resignation of chief operating officer Cameron Wade.

Lookers' fraud probe has already uncovered a £19million black hole in its financial accounts

Lookers' fraud probe has already uncovered a £19million black hole in its financial accounts

Lookers’ fraud probe has already uncovered a £19million black hole in its financial accounts

August saw the investigation’s scope widened to cover its corporate leasing division and vehicle funding arrangements as well as previous years’ balance sheets.

Raban stated that the group remains ‘cautious around the future outlook given the ongoing Covid-19 backdrop, but we are well-positioned to deal with any emerging challenges.’

As part of plans to save £50million, the Altrincham-based firm announced the axing of 1,500 jobs and closure of 12 sites in June. It also took advantage of the government’s furlough scheme to pay a majority of its staff.

Other motor dealer companies such as Pendragon and Marshall Motor Holdings have furloughed workers, while Inchcape has borrowed £100million from the Bank of England’s Covid Corporate Financing Facility.

There were 328,041 car registrations last month, the lowest for September in 21 years

There were 328,041 car registrations last month, the lowest for September in 21 years

There were 328,041 car registrations last month, the lowest for September in 21 years 

All have experienced dramatically subdued demand this year, and despite a revival instigated by the relaxation of lockdown restrictions, sales are still considerably lower.

Trade body The Society of Motor Manufacturers and Traders (SMMT) revealed in its latest monthly vehicle data that 328,041 new cars were registered last month, the worst September since the dual number plate system was introduced 21 years ago.

Over the first nine months of 2020, the total number of new car registrations plunged by a third. Diesel vehicles have taken a substantial fall as buyers seek out greener models.

Mike Hawes, SMMT’s chief executive, noted that despite the ‘incredible resilience’ demonstrated by the automotive sector, the figures did not show signs of a recovery.

He added: ‘Unless the pandemic is controlled and economy-wide consumer and business confidence rebuilt, the short-term future looks very challenging indeed.’

#fiveDealsWidget .dealItemTitle#mobile {display:none} #fiveDealsWidget {display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px} #fiveDealsWidget div, #fiveDealsWidget a {margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif} #fiveDealsWidget .widgetTitleBox {display:block; float:left; width:100%; background-color:#af1e1e; } #fiveDealsWidget .widgetTitle {color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; } #fiveDealsWidget a.dealItem {float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;} #fiveDealsWidget a.dealItem#last {margin-right:0} #fiveDealsWidget .dealItemTitle {display:block; margin:10px 5px; color:#000; font-weight:bold} #fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img {float:left; display:block; margin:0; padding:0} #fiveDealsWidget .dealItemImage {border:1px solid #ccc} #fiveDealsWidget .dealItemImage img {width:100%; height:auto} #fiveDealsWidget .dealItemdesc {float:left; display:block; color:#004db3; font-weight:bold; margin:5px;} #fiveDealsWidget .dealItemRate {float:left; display:block; color:#000; margin:5px} #fiveDealsWidget .footerText a:hover{text-decoration: underline;} #fiveDealsWidget .footerSmall{font-size:10px; padding-top:10px;} @media (max-width: 635px) { #fiveDealsWidget a.dealItem {width:19%; margin-right:1%} #fiveDealsWidget a.dealItem#last {width:20%} } @media (max-width: 560px) { #fiveDealsWidget #desktop {display:none;} #fiveDealsWidget #mobile {display:block!important} #fiveDealsWidget a.dealItem {background-color: #fff; height:auto; min-height:auto} #fiveDealsWidget a.dealItem {border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px} #fiveDealsWidget a.dealItem#last {border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px} #fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last {width:100%} #fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage {float:left; display:inline-block} #fiveDealsWidget .dealItemImage {width:35%; margin-right:1%} #fiveDealsWidget .dealItemContent {width:63%} #fiveDealsWidget .dealItemTitle {margin: 0px 5px 5px; font-size:16px} #fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate {clear:both} }

This post first appeared on dailymail.co.uk

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

JEFF PRESTRIDGE: Neil Woodford must be held to account

Published

on

By

jeff prestridge neil woodford must be held to account

Financial justice is rarely swift in this country. The wheels turn excruciatingly slowly and examples of judicial or regulatory procrastination are aplenty. Unfair? Of course. But sadly it seems the wheels will not be speeding up in the near future. 

It took 11 years for customers of Equitable Life to receive compensation after the insurer nearly collapsed, causing their policies to plunge in value. 

Twenty years on from that near meltdown, investors are still valiantly demanding more – £4billion (the amount they lost) instead of the £1.4billion that has so far been handed out by the Government. 

Unfair: Neil Woodford has retreated to his multi-million pound home in the Cotswolds to enjoy the good life

Unfair: Neil Woodford has retreated to his multi-million pound home in the Cotswolds to enjoy the good life

Unfair: Neil Woodford has retreated to his multi-million pound home in the Cotswolds to enjoy the good life

I wish them well although I don’t hold out much hope for them in these challenging times. 

Victims of banking malpractice in the run-up to the 2008 financial crisis, and its aftermath, are also still fighting for justice with class actions before the courts. A chance of victory is on the horizon, but no more. Legal hurdles need to be cleared and courts to be convinced. 

It also seems that those who lost money in the mismanagement of investment fund Woodford Equity Income – some up to 50 per cent of the value of their original investment – will have to wait quite a while for financial justice to be served. 

Litigation specialists are edging closer to mounting group class actions against companies involved in the fund debacle – namely Woodford’s supervisor Link and wealth manager Hargreaves Lansdown which aggressively promoted the fund right up until it was closed in June last year. 

Harcus Parker appears to be leading the charge with a claim likely to be issued – hiccups notwithstanding – against Link before the year is out. 

But when it presses the green button, success is not guaranteed – and only those investors who support the claim will take a slice of any spoils. It could be another two years before we get to such a position. Frustrating for aggrieved investors of which there are plenty.  

Of course, justice could come sooner if the financial regulator does the job it is paid to do – which is to protect consumers and secure redress for them when they have been victims of financial wrongdoing. Indeed, it would remove the need for any of the class actions. For the past 17 months, it has been investigating the events leading up to the fund’s closure, but it has yet to pronounce on what it intends to do. All it would say last week was that its probe is a ‘priority matter’. 

Unlike the litigation, the Financial Conduct Authority’s focus is not just on Link or Hargreaves Lansdown. It is also looking at the role of Neil Woodford in the fund’s suspension and ultimate demise – and in particular the game of Russian Roulette he played with investors’ money by investing it in a toxic mix of unquoted and illiquid stocks. 

So far, Woodford has not been held to account. Bankrolled by the millions of pounds he earnt from the failed fund – outrageously, a chunk of it while it was suspended – he has retreated to his multi-million pound home in the Cotswolds to enjoy the good life.

He’s even been touting for business in China, although coronavirus seems to have put that project on hold. 

While most Woodford Equity Income investors I speak to want financial justice – delivered either through the courts or via the regulator – they also believe Woodford must carry the can. I agree. 

The regulator’s findings cannot be published soon enough – investors deserve nothing less. 

And when they see the light of day, they must pack a punch that Muhammad Ali would have been proud of. That means financial redress for investors and enforcement action against those responsible for one of the biggest investment fund debacles of recent times. 

…………………………………………………………………………………………………………………….. 

Through their high street presence, post offices generate £1.1billion of revenue for local businesses – as customers use their trip to town to have a coffee or a meal, or use other services. 

As the Post Office says, it is an ‘anchor’ of the high street. 

So why can banks – an equally vital local service – be allowed to shut their branches at a rate quicker than confetti falls at a wedding – without any form of accountability? 

Their presence has a similar galvanising effect on the high street. Do email me if you have any thoughts on this.

THIS IS MONEY PODCAST

This post first appeared on dailymail.co.uk

Continue Reading

Business

Banks stockpile cash for bumper bonuses: Barclays boosts payout

Published

on

By

banks stockpile cash for bumper bonuses barclays boosts payout

Banks have begun stockpiling cash to pay out bumper bonuses in the New Year, The Mail on Sunday can reveal. 

Documents show Barclays has boosted this year’s bonus pool for bankers by 9 per cent to £745million – £63million more than it set aside last year – after making huge profits at its investment bank. 

Meanwhile, American investment banks with tens of thousands of British-based staff also appear to be preparing the ground for bigger bonuses. 

Writing on the wall: Documents show Barclays has boosted this year's bonus pool for bankers by 9 per cent to £745million

Writing on the wall: Documents show Barclays has boosted this year's bonus pool for bankers by 9 per cent to £745million

Writing on the wall: Documents show Barclays has boosted this year’s bonus pool for bankers by 9 per cent to £745million

Goldman Sachs, which employs 6,000 in the UK, has set aside $10.8billion (£8.3billion) to cover pay and bonuses in the first nine months of 2020 – up 16 per cent on the same period last year. 

Rival Morgan Stanley, which has 5,000 staff in Britain, has set aside $6.8billion to cover pay, up 26 per cent. JP Morgan, with 19,000 UK employees, has put aside an extra 10 per cent to take its total to $9.7billion. 

Swiss bank UBS, which has around 5,000 workers in the UK, is handing $30million to 25,000 staff globally as a ‘thank you’ payment. Each bonus is worth about a week’s salary. 

Investment banks are flush with cash after pocketing huge fees from helping struggling firms to raise emergency funds. 

They have also boosted their income from trading shares and bonds, taking advantage of turmoil on the markets. 

Evidence of money being set aside for banker bonuses raises the prospect of lavish rewards being dished out in the City as Covid cripples economies and leads to millions of job losses. 

Any move to bump up bonuses could anger UK bank shareholders who have been denied bank dividends since March. Regulators cracked down on payouts to make sure banks could survive a deep economic downturn in which they might face heavy losses on bad debts. 

Lord Myners, the ex-City Minister who masterminded bank bailouts during the 2008 crash, said: ‘To pay significant bonuses in the knowledge you’ve got [loan] losses coming would be foolhardy in the extreme. 

‘In the circumstances of shareholders not getting dividends, it would look even less acceptable for banks to be paying significant bonuses.’ 

Figures this week are set to show Britain’s biggest banks have built up around £13.6billion in extra capital as a buffer against an economic crash, according to analyst estimates. 

Banks have so far poised aside around £20billion to deal with bad loans. Regulators are set to decide in the coming months on whether to let banks resume paying dividends. 

Myners added: ‘There’s a misunderstanding in Government about dividends in some way going to fat-cat individuals.

‘The dividends not being paid go to pension funds and insurance schemes. There’s no need to stop the banks paying dividends. They have strong capital ratios.’ 

Barclays, like most banks, will finalise its bonus pot at the end of the year. Its investment bank’s income from trading shares and bonds has jumped 52 per cent to a record £6.25billion for the first nine months of 2020. The bank also made almost £2billion in fees from helping hard-up firms to call on investors for funds. The corporate and investment bank made profits of £3.2billion. 

Jes Staley, chief executive of Barclays, may want to reward his investment bankers to keep them onside as he defends the division from an attack by activist investor Edward Bramson. 

The secretive Bramson has called on Barclays to cut the size of its investment bank, while Staley believes it provides an important source of income. But Luke Hildyard, director of the High Pay Centre, warned: ‘The pandemic is having a devastating impact. Vast gaps between those at the top and everybody else are not healthy. Huge payouts to already very wealthy bankers would make many people uncomfortable. It might also be complacent to increase bankers’ bonuses.’

It is thought bank bosses will show caution around paying dividends until they know the full scale of the downturn. 

Staley said: ‘The decision around bonuses will be made at the end of the year. We want to do the right things for our customers and our clients.’ 

HSBC, Lloyds and Barclays are expected to make profits of £3.8billion, £631million and £1.5billion respectively in 2020, while state-backed NatWest is tipped to make a loss of £743million. 

Ian Gordon, banking analyst at Investec, said: ‘It sounds far fetched, but most of the banks will stay profitable throughout this crisis outside of NatWest. 

‘I don’t think NatWest is likely to pay out a dividend, but all of the others are in a position to pay out.’ 

#fiveDealsWidget .dealItemTitle#mobile {display:none} #fiveDealsWidget {display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px} #fiveDealsWidget div, #fiveDealsWidget a {margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif} #fiveDealsWidget .widgetTitleBox {display:block; float:left; width:100%; background-color:#af1e1e; } #fiveDealsWidget .widgetTitle {color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; } #fiveDealsWidget a.dealItem {float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;} #fiveDealsWidget a.dealItem#last {margin-right:0} #fiveDealsWidget .dealItemTitle {display:block; margin:10px 5px; color:#000; font-weight:bold} #fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img {float:left; display:block; margin:0; padding:0} #fiveDealsWidget .dealItemImage {border:1px solid #ccc} #fiveDealsWidget .dealItemImage img {width:100%; height:auto} #fiveDealsWidget .dealItemdesc {float:left; display:block; color:#004db3; font-weight:bold; margin:5px;} #fiveDealsWidget .dealItemRate {float:left; display:block; color:#000; margin:5px} #fiveDealsWidget .footerText a:hover{text-decoration: underline;} #fiveDealsWidget .footerSmall{font-size:10px; padding-top:10px;} @media (max-width: 635px) { #fiveDealsWidget a.dealItem {width:19%; margin-right:1%} #fiveDealsWidget a.dealItem#last {width:20%} } @media (max-width: 560px) { #fiveDealsWidget #desktop {display:none;} #fiveDealsWidget #mobile {display:block!important} #fiveDealsWidget a.dealItem {background-color: #fff; height:auto; min-height:auto} #fiveDealsWidget a.dealItem {border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px} #fiveDealsWidget a.dealItem#last {border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px} #fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last {width:100%} #fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage {float:left; display:inline-block} #fiveDealsWidget .dealItemImage {width:35%; margin-right:1%} #fiveDealsWidget .dealItemContent {width:63%} #fiveDealsWidget .dealItemTitle {margin: 0px 5px 5px; font-size:16px} #fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate {clear:both} }

This post first appeared on dailymail.co.uk

Continue Reading

Business

We’re going to court, say lawyers in Neil Woodford fight

Published

on

By

were going to court say lawyers in neil woodford fight

One of the five firms looking to obtain compensation for investors who lost money in the break-up of investment fund Woodford Equity Income is set to launch a multi-million pound class action in the courts by the end of the year. 

The Mail on Sunday understands that litigation specialist Harcus Parker is likely to be the first to press the ‘go’ button, with a claim against Link – the fund’s ‘authorised corporate director’ (ACD). It is understood to be ‘further down the track’ than rivals RGL Management, Nelsons, Slater and Gordon and Leigh Day. 

The view of Harcus is that Link failed in its duties as ACD to safeguard the interests of the fund’s 300,000 investors, leading to the abrupt closure of the £3.5billion fund in June last year when it was unable to meet a multimillion pound redemption request from a key investor. 

Looking for justice: Many investors in Neil Woodford's fund have been left with losses of up to 50 per cent.

Looking for justice: Many investors in Neil Woodford's fund have been left with losses of up to 50 per cent.

Looking for justice: Many investors in Neil Woodford’s fund have been left with losses of up to 50 per cent.

Manager Neil Woodford was subsequently sacked by Link, the fund broken up and a majority of the assets disposed of with money being returned to investors. But many investors have been left with losses of up to 50 per cent. 

Harcus maintains Link did not ensure there was sufficient liquidity in the fund to meet investor redemptions – resulting in its sudden closure. Also, it says Link did not verify the valuation of some of the fund’s unquoted assets which were subsequently sold for a pittance as Woodford Equity Income was broken up. 

Finally, Link is accused of failing to make sure Neil Woodford ran the fund in accordance with its objectives – namely to provide investors with a mix of dividends and capital return from a portfolio of established UK companies. Instead, the fund was heavily invested in unquoted companies. 

On Friday, Harcus confirmed it has the necessary funding in place to launch its claim, has obtained favourable opinion from a leading Queen’s Counsel on the merits of its claim, and has set out its argument to Link in correspondence – a document The Mail on Sunday has seen.

It added: ‘The claim is going ahead and we expect to file soon on behalf of several thousand clients.’ Some 15,000 investors have expressed an interest in supporting the claim, of which 3,000 have gone on to become Harcus clients. Their numbers will be boosted when Harcus goes ahead with the claim – aggrieved investors can join it up until a deadline set by the court (woodfordclaim.com). The action is being run on a no-win, no-fee basis. 

Harcus’s move will be welcomed by Woodford investors because the litigation expert has past history in mounting successful actions. It pursued Link’s predecessor Capita Financial Managers in the courts over its role in the collapse of the Arch Cru funds – and is believed to have forced Capita into agreeing an out-of-court settlement in 2015. 

Interestingly, the Queen’s Counsel opinion sought on Link is the same as the lead counsel used in Arch Cru – Nick Vineall QC. Capita’s duties at Arch Cru were broadly the same as those for Link on Woodford Equity Income. 

Investors will need to be patient. Once launched, the class action would take at least 18 months to get to trial. Any judgment either way could then take between two and three months to be made, so if Harcus is successful, compensation is unlikely to be paid before the end of 2022. Harcus’s intervention aside, there is still the possibility of regulatory intervention in the Woodford debacle. The Financial Conduct Authority has been looking into the circumstances surrounding the closing of the high profile fund for the past 17 months – and continues to do so. According to Peter Sleep, a fund manager with Seven Investment Management, investors who are hoping for compensation through FCA intervention will probably need to have the ‘patience of a saint’. 

He says that regulatory action against Capita Financial Managers (now Link) for its role in the liquidation of the Connaught Income Fund took five years to bubble to the surface. 

The result was a £66million payment to investors (from Capita) who lost money in the failed fund – plus a public censuring for Capita. 

There are similarities between Connaught Income and Woodford Equity Income – in terms of the failure of the authorised corporate director (Capita in Connaught’s case, Link’s in Woodford’s) to adequately monitor the fund. 

But as Sleep says: ‘Nothing is ever exactly the same, but there may be other issues the FCA uncovers with Woodford Equity Income. The wheels of justice turn slowly and I can only imagine that Covid is throwing sand in those wheels today.’ 

On Friday, the FCA said the investigation into the suspension of Woodford Equity Income was a ‘priority matter’. It added: ‘There’s a strong team working on it full time and we’re looking to complete it as soon as we possibly can.’ It confirmed Link was part of its work. Although Harcus’s focus is on Link, other litigation companies have targeted wealth manager Hargreaves Lansdown which, up until the day Woodford Equity Income was closed, had promoted the fund as a ‘best buy’ – in the process generating millions of pounds of revenue for itself. This is despite having concerns over the increasingly illiquid nature of the fund.

CASE STANDS ‘HIGH CHANCE OF SUCCESS’ 

Alan Miller, chief investment officer of asset manager SCM Direct, has closely followed the debacle over funds managed by Neil Woodford, left. 

Indeed, he was one of the first to predict that many of the investments in the Woodford Equity Income fund were grossly overvalued and near worthless. 

He raised his concerns directly with the Financial Conduct Authority – and has been proved right. He says any class actions stand ‘a very high chance of success’ – adding: ‘I think there will be substantial claims against both Hargreaves Lansdown and Link, ironically not against Mr Woodford or his business Woodford Investment Management.’ 

There is also the possibility of an institutional claim being launched against Link – backed by pension funds which invested in Woodford Equity Income. 

Harcus Parker is looking into this, but it is tricky because of the reluctance of many institutional investors to get involved in litigation which they consider ‘messy and vulgar’. 

One expert believes Hargreaves Lansdown should join such a claim so that investors in its own-branded managed funds – some of which were heavily invested in Woodford – have a chance to recover a slice of their losses. 

On Friday, Link and Hargreaves Lansdown were both invited to comment on the prospect of litigation. 

They declined the opportunity.

THE FOUR OTHER FIRMS TAKING LEGAL ACTION  

RGL MANAGEMENT: RGL’s main target is Hargreaves Lansdown although it is still looking ‘very seriously at adding Link to the claim’. Like Harcus, it has sought opinion from Queen’s Counsel on the merits of any claim and the response has been ‘excellent’. 

On Friday, James Hayward, RGL chief executive, said: ‘We have over 1,000 claimants and this is before a formal marketing campaign has begun. In all reality, we won’t issue a claim before next year.’ 

Hayward admitted his company might not be the first to issue a claim, but he pointed to the fact that ‘nobody had beaten them’ to mounting a class action against Yorkshire and Clydesdale banks for their mis-selling of business loans in the 2000s. ‘We have the expertise and the gravitas,’ he added. rglmanagement.com/woodford-litigation 

LEIGH DAY: Like Harcus Parker, Leigh Day believes a case against Link presents the best way forward. It told The Mail on Sunday it is in the ‘final stage of preparation’ ahead of launching its case. Any action would be based on a no-win, no-fee basis with fees capped at 30 per cent of any compensation received. 

Kamran Vojdani, a solicitor in the consumer law team at Leigh Day, said: ‘The time to get the case ready reflects the size, complexity and developing nature of this matter. In addition, we want to make sure everything is in place to take the claim through trial so we don’t have to disappoint clients later on.’ 

He added that it was ‘separately considering potential claims against Hargreaves Lansdown’. consumerlawclaims.leighday. co.uk

NELSONS: This firm is looking to issue claims against both Link and Hargreaves Lansdown – as well as advising some investors on additional claims against their independent financial advisers who recommended the Woodford fund to them. On Friday, partner Cathryn Selby said: ‘We have been gathering evidence for the claims that are proceeding – as well as investigating new potential claims as people affected continue to come forward. 

‘We are in the process of finalising the claims so anyone looking to pursue a claim should act quickly as we anticipate issuing formal letters of claim before the end of the year.’ nelsonslaw.co.uk/ woodford-fund-claim

SLATER AND GORDON: It is following RGL in pursuing Hargreaves Lansdown. On Friday. Gareth Pope, Slater and Gordon’s principal lawyer, said: ‘We consider that investors have a viable claim against Hargreaves Lansdown and we are committed to holding them accountable for the losses investors have suffered. 

‘Slater and Gordon has formed a team of barristers and expert advisers and is in the process of creating a group action against Hargreaves Lansdown to enable all investors to reclaim their investment plus other losses suffered.’ slatergordon.co.uk  

#fiveDealsWidget .dealItemTitle#mobile {display:none} #fiveDealsWidget {display:block; float:left; clear:both; max-width:636px; margin:0; padding:0; line-height:120%; font-size:12px} #fiveDealsWidget div, #fiveDealsWidget a {margin:0; padding:0; line-height:120%; text-decoration: none; font-family:Arial, Helvetica ,sans-serif} #fiveDealsWidget .widgetTitleBox {display:block; float:left; width:100%; background-color:#af1e1e; } #fiveDealsWidget .widgetTitle {color:#fff; text-transform: uppercase; font-size:18px; font-weight:bold; margin:6px 10px 4px 10px; } #fiveDealsWidget a.dealItem {float:left; display:block; width:124px; margin-right:4px; margin-top:5px; background-color: #e3e3e3; min-height:200px;} #fiveDealsWidget a.dealItem#last {margin-right:0} #fiveDealsWidget .dealItemTitle {display:block; margin:10px 5px; color:#000; font-weight:bold} #fiveDealsWidget .dealItemImage, #fiveDealsWidget .dealItemImage img {float:left; display:block; margin:0; padding:0} #fiveDealsWidget .dealItemImage {border:1px solid #ccc} #fiveDealsWidget .dealItemImage img {width:100%; height:auto} #fiveDealsWidget .dealItemdesc {float:left; display:block; color:#004db3; font-weight:bold; margin:5px;} #fiveDealsWidget .dealItemRate {float:left; display:block; color:#000; margin:5px} #fiveDealsWidget .footerText a:hover{text-decoration: underline;} #fiveDealsWidget .footerSmall{font-size:10px; padding-top:10px;} @media (max-width: 635px) { #fiveDealsWidget a.dealItem {width:19%; margin-right:1%} #fiveDealsWidget a.dealItem#last {width:20%} } @media (max-width: 560px) { #fiveDealsWidget #desktop {display:none;} #fiveDealsWidget #mobile {display:block!important} #fiveDealsWidget a.dealItem {background-color: #fff; height:auto; min-height:auto} #fiveDealsWidget a.dealItem {border-bottom:1px solid #ececec; margin-bottom:5px; padding-bottom:10px} #fiveDealsWidget a.dealItem#last {border-bottom:0px solid #ececec; margin-bottom:5px; padding-bottom:0px} #fiveDealsWidget a.dealItem, #fiveDealsWidget a.dealItem#last {width:100%} #fiveDealsWidget .dealItemContent, #fiveDealsWidget .dealItemImage {float:left; display:inline-block} #fiveDealsWidget .dealItemImage {width:35%; margin-right:1%} #fiveDealsWidget .dealItemContent {width:63%} #fiveDealsWidget .dealItemTitle {margin: 0px 5px 5px; font-size:16px} #fiveDealsWidget .dealItemContent .dealItemdesc, #fiveDealsWidget .dealItemContent .dealItemRate {clear:both} }

This post first appeared on dailymail.co.uk

Continue Reading

Trending

Copyright © 2020 DiazHub.