Chris Wheal

Chris Wheal is editor He set up and ran Daily Finance in the UK and then merged it with Walletpop to launch AOL Money. He previously edited three B2B magazines, including Insurance Times, as well supplements in the Guardian. He has won awards for business and consumer journalism.


Guy Elliott quits UK takeover panel after SEC charges

Guy Elliott has resigned as a member of the UK merger and acquisition regulator the Takeover Panel after being charged with fraud by the US Securities and Exchange Commission.

Chris Wheal

Ex-Rio Tinto Guy Elliott resigns from Shell board

Former Rio Tinto boss Guy Elliott has quit as non-executive director of Royal Dutch Shell after the US Securities and Exchange Commission (SEC) issued legal proceedings against him over fraud.

Chris Wheal

Reckitt Benckiser warns ‘soft quarter’ means flat profits

Health to household chemicals maker Reckitt Benckiser has issued a second profit warning stating that like-for-like revenues had fallen 1% and will be flat for the year.

Chris Wheal

Flybe warns aircraft maintenance costs will hit profits

Airline Flybe has warned that higher aircraft maintenance costs will hit profits with expected half year pre-tax profits down to between £5m and £10m compared with £15.9m for h1 last year.

Chris Wheal

Rio Tinto get £27m fine and execs face US law suit

Rio Tinto faces criminal charges from the US Securities and Exchange Commission (SEC) and a £27m fine from the UK Financial Conduct Authority (FCA) over fraud.

Chris Wheal

FCA CEO Andrew Bailey says Brexit need not be worse

Top regulator, Financial Conduct Authority (FCA) Chief Executive Andrew Bailey, has warned that Brexit must not lead to a weaker and worse financial services industry.

Chris Wheal
New York

New York manufacturing survey highest since 2014

New York business activity is at a three-year high, the October 2017 Empire State Manufacturing Survey, reported. Its general business conditions index rose six points to 30.2, its highest level in three years.

Chris Wheal

S&P warns Italian banks most at risk from ECB rules

Italian banks are the most exposed to new bad loan rules proposed by the European Central Bank and may lend less to companies in response to them, credit ratings agency Standard & Poor's said

Chris Wheal

Ikea hikes prices after Brexit sterling forex fall

Furniture retailer IKEA Group has raised prices in Britain to compensate for a slump in sterling after the country's decision to leave the European Union, which has pushed up import costs.

Chris Wheal

ConvaTec shares lose a fifth on supply chain woes

Shares in medical company ConvaTec fell 20% after it lowered its profit guidance this morning.

Chris Wheal

Ofgem names worst gas and electric firms for debt

Utility firms face further criticism from regulator Ofgem today for letting poorer customers run up £600 pounds of debt before helping them.

Chris Wheal

Metal Tiger takes 5% of Kingsgate Consolidated

AIM quoted commodity investor Metal Tiger has taken a further strategic investment in Kingsgate Consolidated buying 430,000 ordinary shares taking its stake to more than 5%.

Chris Wheal
gold on south africa map

South Africa gold dump project restarted after protests

Construction of Pan African Resources 1.7 billion rand ($128m) project in South Africa to produce gold from mine dumps has resumed after it was halted last week because of community protests

Chris Wheal

Antibody maker Bioventix boost revenue and profit

Clinical diagnostics antibody supplier Bioventix has reported revenue up 31% to £7.2m and pre-tax profit 37% to £5.7m in its audited results for the year ended 30 June 2017.

Chris Wheal

Husqvarna income hit as it cuts ties with US retailer

Flymo lawnmower maker Sweden's Husqvarna has warned that net sales in its consumer brands division would take a 1 billion Swedish crown ($123m) hit next year as it cuts back business with a major US client.

Chris Wheal

Supply chain issues scupper ConvaTec’s Q3 results

Supply-chain hit medical firm ConvaTec Group has announced Q3 revenue of $445.5m, 6.8% up on Q3 2016. It said the growth equalled 5.1% at constant exchange rates and 3.3% organic growth.

Chris Wheal
Ernst & Young

Regulator FRC sanctions EY auditor over Tech Data

Corporate accounts regulator the Financial Reporting Council (FRC) has fined Ernst & Young LLP (EY) and senior auditor Julian Gray more than £3m for misconduct over Tech Data’ (formerly Computer 2000 Distribution) 2012 accounts.

Chris Wheal
assets & liabilities

Portfolio immunisation & asset liability/cashflow matching

Asset liability (or cashflow) matching and portfolio immunisation are two methods insurance and pension fund managers use to ensure they can pay their liabilities.

Chris Wheal

Overconfidence bias: think you know more than you do

The overconfidence effect or bias is what makes a person believe their ability is greater than the evidence supports. It is exaggerated in confident people, resulting in worse decisions

Chris Wheal

Familiarity bias: the availability heuristic adds memory

The familiarity bias or heuristic (rule of thumb) makes you invest in the familiar even though a less well-known alternative would produce a better return.

Chris Wheal
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