RBS to pocket £24m as it offloads loans July 23, 2015 Royal Bank of Scotland is offloading a number of loans as part of a move to strengthen its balance sheet. The bank announced this morning it had agreed to dispose a portfolio of loans to an entity funded by Deutsche Bank and funds affiliated with Apollo Global Management. RBS will receive around £400m [...]
From the gender pay gap to the minimum wage, the politicisation of pay threatens the UK’s business-friendly reputation August 19, 2016 Economic logic suggests that free determination of employment contracts, like free trade, normally benefits both parties and leads to high levels of employment and economic growth. But this view has never been popular. Fifty years ago, it was the accepted belief that governments should determine pay increases, leading to the dead end of incomes policies [...]
Deloitte UK’s Young Banker of the Year Awards 2015 nominees: They’re bankers, but not as you know them… August 27, 2015 Meet Deloitte UK's Young Banker of the Year Awards' nominees In recent years, identifying oneself as a banker has been something of a social faux pas. But are things about to change? As the summer break comes to an end, financial advisers Deloitte are kicking off the new school term with their Young [...]
How British designers like Burberry, Paul Smith and Alexander McQueen influenced the design of stunning flats at One Tower Bridge July 14, 2016 July sunshine and the smell of newly mown grass hit me as I stepped out of the latest show apartment at One Tower Bridge on Monday morning. How evocative of a British summer at its best. Built by Squire and Partners for Berkeley Homes, it is this, the development’s iconic location on the south bank [...]
Banks brace for tax showdown: City giants warn jobs and growth are at risk from Whitehall interference September 21, 2015 Unpredictable and excessive taxes are pushing the British banking sector to the brink, according to a major new report by a leading industry body. The British Bankers’ Association (BBA) and PwC reveal that the UK banking sector contributed an estimated total of £31.3bn in taxes last year, and warn of the risk posed to [...]
Sterling suffers historic crash as Brits back Brexit June 24, 2016 The pound has been haemorrhaging against the dollar as panic engulfs financial markets in reaction to the UK voting to leave the European Union. Sterling has racked up its worst daily fall on records that date back to 1971 — even uglier the collapse of Lehman Brothers and Black Wednesday. At one stage, the pound fell as low as $1.3224, a fall of more [...]
Watchdog visits Barclays four times a week as FCA takes on Barclaycard oversight July 20, 2015 Barclays was visited by UK regulators on 186 separate occasions last year – more than twice as many times as the next most-visited lender, figures published yesterday show. The bank met with supervisors from the Financial Conduct Authority at its offices roughly four out of every five working days in 2014. The next most visited, [...]
EU referendum: Fitch warns that protracted post-Brexit negotiations could trigger recession May 16, 2016 The stakes of any post-Brexit negotiations were laid bare today in a new report from ratings agency Fitch, which assesses how the UK economy will perform if it were to secure different terms of exit after voting to leave the EU. In its worst scenario – in which Fitch predicts at least two years of political wrangling along with [...]
Brexit vote is “a one way ticket” says David Cameron, as polls show boosted support for Remain camp June 19, 2016 Prime Minister David Cameron has sought to play up the irreversible nature of a vote to leave the EU, describing Brexit as a step “with very bad consequences”. Speaking to The Sunday Times, Cameron said there would be “no going back” after a vote to Leave later this week, arguing that re-joining the EU would [...]
RBS posts profit as investors await share sale July 30, 2015 ROYAL Bank of Scotland (RBS) reported an unexpected profit in the second quarter yesterday, with the majority state-owned bank boosting its stock ahead of an impending sale of shares currently held by the UK government. RBS made an attributable profit of £293m, up 27 per cent on the same period last year. Analysts had expected a [...]