Charlie Nunn starts as Lloyds Bank chief executive August 16, 2021 Former HSBC banker Charlie Nunn takes on the role of chief executive of Lloyds Bank today, one of the UK’s biggest finance jobs. Nunn’s appointment was announced in November and his starting date was revealed in February. He replaces Antonio Horta-Osorio, who held the position for a decade and announced he would step down once [...]
Turnover of independent spirit distilleries hits £1.87bn thanks to lockdown drinkers August 16, 2021 Independent spirit distilleries’ turnover increased by eight per cent last year, as locked down Brits concocted their own cocktails. Turnover reached £1.87bn last year, up from £1.72bn the previous year, according to private equity investment firm Growthdeck. Consumers spent an additional £566.8m on spirits as bars and pubs were forced to close for months due [...]
Monzo savings partner pauses products amid money laundering probe August 14, 2021 OakNorth, a Monzo partner that provides savings products for the challenger bank, temporarily withdrew offers for new customers a fortnight after it emerged that the FCA had launched an investigation into the British digital bank over possible money laundering activity. Challenger bank OakNorth, which is one of the lenders that have provided £1bn worth of [...]
The interview: Sir Richard Branson on the past, present and future August 14, 2021 Christopher Jackson talks to the CEO about the pandemic, work and his friendships with Barack Obama and Nelson Mandela. Thanks to our friends at Finito for allowing us to republish their article. Fame will sometimes have a blurring effect. Public presence sustained over a long period of time can create a confusing image. During a [...]
The Very Group owners select trio of banks for £4bn float August 13, 2021 The owners of fashion retailer The Very Group have selected a trio of investment banks to organise a £4bn flotation. Banks Barclays, Morgan Stanley and UBS have been appointed to coordinate an initial public offering (IPO) to take place next year, according to Sky News. This would mark the first time the Barclay family – [...]
US insurance giant Gallagher snaps up Willis reinsurance arm in $3.25bn deal August 13, 2021 US insurance giant Arthur J. Gallagher has announced it will buy the treaty reinsurance brokerage arm of Willis Towers Watson for a proposed cash consideration of $3.25bn (£2.35bn). It comes just over a fortnight after Willis agreed to terminate a $30bn (£22.9bn) merger agreement with Aon, in what would have created the world’s largest insurance [...]
Sir Richard Branson sells $300m of Virgin Galactic stock August 13, 2021 Sir Richard Branson has sold $300m worth of shares in Virgin Galactic, a regulatory filing showed, with the proceeds earmarked to help support the billionaire’s other ventures. The 71-year-old, who last month flew to the edge of space in his firm’s first ever manned flight, sold 10.5m shares, or about 4.0 per cent of the [...]
Job ads dip for first time in two months August 13, 2021 Job vacancies fell for the first time in two months suggesting that severe worker shortages that have plagued the UK labour market are starting to clear, according to new figures released today. Data from the Recruitment and Employment Confederation shows the number of active job postings dropped by 2,000 over the last week, the first [...]
Fed to provide clues on bond buying tapering next month August 13, 2021 Experts expect the Federal Reserve to announce its plan to wind down its ultra-loose monetary policy measures launched in response to the Covid crisis next month. Nearly two thirds of economists polled by Reuters think the US central bank will outline how it will taper its asset purchases at the next meeting of the Federal [...]
Pandemic stretches gender pension gap to nearly £200,000 August 11, 2021 Women’s retirement prospects and savings have been dragged down by the pandemic much more than men’s, widening the gap between their pensions pots by almost £200,000. On average, the difference between the average pensions of women and men aged over 55 widened to £184,000 in in the last year – up £26,000 on 2020, according [...]
