2nd March 2014
1) Shares in troubled security firm Serco have risen around 10 per cent after the firm appointed Rupert Soames, a grandson of Winston Churchill, to head its business as the Guardian reports. Soames is leaving temporary generator power provider Aggreko, which saw shares fall 4%. Results for both firms come this week, though Soames won’t actually take the reins until June.
2) Fidelity Personal Investing offers a price promise to its investors saying that if they can obtain funds from its main rivals more cheaply, Fidelity will make up the difference as trade website Investment Week reported this week.
3) Elsewhere Hargreaves Lansdown has issued its radical new pricing structure with its Wealth 150 + range of funds (actually 27) allowing investors to access many fund managers much more cheaply than they have before (but has the Fidelity promise taken the wind out of its sales?).
4) The Financial Conduct Authority is poised to restrict some of the investments that can be offered within a Sipp due to concerns that Sipps containing Unregulated Collective Investment Schemes have often gone wrong as Citywire reports.
5) The BBC reports on record profits from Warren Buffett’s investment firm Berkshire Hathaway. The firm saw profits of $19.5bn (£11.6bn) last year, up from $14.8bn (£8.8bn) in 2012. It did not beat the S&P 500 however and that is for the fifth year in a row.