RBS faces fresh FCA probe after it reveals IT glitch led to misinforming 4,500 customers about their inactive accounts December 13, 2015 Royal Bank of Scotland (RBS) is facing fresh controversy after it was revealed to have concealed inactive bank accounts from thousands of customers. RBS said over the weekend that it had errantly told 4,500 customers who had asked for their money in inactive accounts that their savings were not held at the bank. RBS said [...]
FTSE 100 index opens higher as oil price rebounds on production freeze as Anglo American, BHP Billiton and Glencore share prices jump February 16, 2016 The FTSE 100 index opened higher this morning after markets were encouraged by quantitative easing hints from European Central Bank president Mario Draghi yesterday, as well as the rebounding price of oil. The UK's blue chip index rose 0.93 per cent to 5,878 points, led higher by Anglo American, BHP Billiton and Glencore. "European markets picked up where [...]
FTSE 100 index closes higher as price of oil rebounds and share prices at miners and banks including HSBC, RBS, Lloyds and Barclays rise and Rolls-Royce’s share price rockets February 12, 2016 Having taken a pounding on Thursday, the FTSE 100 index closed sharply higher today as the price of oil rebounded. The UK's blue chip index closed 3.08 per cent higher at 5,707 points, led higher by Rolls-Royce, banks and miners. The price of oil rose more than three per cent to nudge over $31 a barrel this morning, after an Opec minister [...]
FTSE 100 index falls as the price of oil slides again January 25, 2016 The FTSE 100 index fell on Monday as the price of oil slid once again. The UK's blue-chip index closed 0.39 per cent down at 5,877 points, led lower by banks, BT and Kingfisher “The FTSE started up about 17 points at 5917, but as soon as oil came off its better levels of $32.60 down to [...]
London business people gave Travelodge some of their most bizarre customer requests this year November 16, 2016 Have you ever asked your hotel staff to help out with a wedding proposal, do your VAT returns or wake you up with a bagpipe serenade? If so, your wish might have landed on Travelodge's list of the most bizarre requests from the last year. A few peculiar questions were simple mistakes made by tourists lacking knowledge of the UK. [...]
Theresa May is set to shatter Nicola Sturgeon’s hopes of a Flexit deal that could protect Scottish Single Market access October 24, 2016 Theresa May is set to spurn a call from Scottish first minister Nicola Sturgeon for a flexible Brexit deal to protect Scottish Single Market access. May met with Sturgeon, alongside Welsh first minister Carwyn Jones and Northern Irish leaders Arlene Foster and Martin McGuinness this morning at Downing Street in the first session of the Joint Ministerial Committee for [...]
RBS share price plummets as litigation costs mount for RBS – but losses narrow February 26, 2016 Royal Bank of Scotland Group (RBS) shares plummeted 10.5 per cent to 218.3p as markets opened, despite losses narrowing to just under £2bn last year. Still, it's its eighth straight year of losses. The figures RBS said its loss attributable to ordinary shareholders hit £1.98bn last year, down from £3.47bn in 2014. Total income fell to £12.92bn, from £15.15bn last year, while pre-tax profits [...]
City Moves for 3 October 2016 | Who’s switching jobs October 3, 2016 Squire Patton Boggs Squire Patton Boggs has appointed Kashif Siddiqui as a partner in its global Corporate practice in London. With previous experience at Allen & Overy, Kashif has significant corporate expertise, with his practice focused on cross-border mergers and acquisitions (both public and private), disposals, joint ventures and reorganisations. He advises investment banks and [...]
More than a third of corporate debt is now with challenger banks, but London firms yet to be convinced September 5, 2016 Challenger banks are giving the incumbent players a run for their money, as figures out today show over a third (34 per cent) of UK business mortgages and charges are now issued by the smaller, newer lenders. In particular, 32 per cent of corporate debt is handled by what Avention, which carried out the research, classifies as smaller [...]
Independent Scotland could become “Greece without the sun” July 3, 2016 Scotland could end up going the way of Greece if it voted to leave the UK in order to remain a member of the European Union as an independent country, a new report has argued. The Centre for Policy Studies (CPS) has warned Nicola Sturgeon the economic case for independence is even weaker than it was [...]