EVERYDAY savers are being wooed back into corporate bonds in a push to make company “IOUs” simpler and cheaper to buy.
A government-backed campaign launched yesterday — with a kitemark system to help reassure first-time investors.
The London Stock Exchange will badge certain issues as Access Bonds on retail investing platforms.
The move follows a sharp decline in direct bond buying by individuals after EU-era rules effectively blocked single investments below £100,000.
That floor has now been scrapped, meaning bond transactions can start from as little as £1.
Chancellor Rachel Reeves was due to talk up what she calls “the first signs of a new golden age” for the City yesterday.
However, she pulled out after renewed tariff threats from President Donald Trump over his desire to claim Greenland for the US.
Supporters say blue-chip corporate bonds can appeal because they typically pay more interest than government bonds.
However, prices can still move with interest rates and inflation, and there is always a risk of default.
The bond push sits alongside wider reforms to make fundraising in London quicker and cheaper.
LSE chief Dame Julia Hoggett called it the biggest shake-up to UK capital markets “in a generation”, with prospectus rules loosened and initial public offering times shortened.
LOTTO UPGRADE
THE NATIONAL LOTTERY website and apps will go offline for around 24 hours this weekend for a major upgrade.
The national-lottery.co.uk site, and the game’s iOS and Android apps, will pause between 11pm on Saturday until the end of Sunday to improve results displays and make playing and claiming prizes simpler.
During the shutdown, players will still be able to buy tickets at retailers nationwide.
THREE? CHEERS
TESCO is bringing back triple-value Clubcard vouchers for meals out.
Shoppers can now turn every 50p of vouchers into £1.50 to spend at Ask Italian, Bella Italia, Frankie & Benny’s, Prezzo and Zizzi — joining PizzaExpress on the same deal.
Las Iguanas is also added as a triple value partner.
Tesco says “eating out” was its most popular reward category last year.
MIGHTY ROLE FOR QUINN
WH SMITH has named the former boss of infrastructure giant Balfour Beatty as its incoming executive chairman.
Leo Quinn’s role will be to help the group “return to stability” as it recovers from a damaging accounting blunder at its US business.
Mr Quinn will start on April 7, subject to shareholder approval.
Shares in the retailer jumped 11 per cent in morning trading yesterday as investors cheered Mr Quinn’s appointment.
He will take on the role with a share award worth an initial £12.25million on top of his £360,000 annual salary.