UK banks still vulnerable to a “toxic cocktail” of taxpayer bailout risks says Treasury Select Committee chair December 19, 2016 The UK’s banks are still vulnerable to a “toxic cocktail” of risks for which the taxpayer may have to foot the bill, according to the head of the Treasury Select Committee (TSC). TSC chair and Conservative MP Andrew Tyrie is launching a new inquiry into the sector, stating that the public has a right to know [...]
No Brexit blues for upbeat housebuilders, despite concerns around skills shortages and costs of materials October 31, 2016 Housebuilders are refusing to be knocked back by any Brexit blues, as the industry remains optimistic on what the future holds, research out today has found. Lloyds Bank Commercial Banking found average five-year investment plans had increased by around 17 per cent over the last year, despite over a third (36 per cent) in the sector confessing [...]
When fintechs and banks go speed dating February 8, 2017 While the seemingly age-old debate about whether fintech startups will kill banks still rages on, FinovateEurope demonstrates why that question is now largely redundant – things have moved on. The 80 startups on stage at the two day event in the heart of the City are pitching the banks, insurers and City institutions in attendance more [...]
TSB moves to snap up £16bn Bradford & Bingley portfolio November 20, 2016 TSB has put an offer on the table for a £16bn mortgage loan portfolio which belonged to Bradford & Bingley. The government has been slowly but surely selling the assets it picked up in the fallout of the financial crisis, which includes parts of Bradford & Bingley's business. Now, the Sunday Times has reported UK [...]
Commuting for an hour could save you £450,000 on the cost of your house September 26, 2016 Spending an hour on a morning commute could save London workers £450,000 on the price of their home. According to research by Lloyds Bank, average house prices are 60 per cent lower in commuter towns than in central London, falling from an average of £741,919 in the capital to £294,903 outside it. Read more: House [...]
City Moves for 22 November 2016 | Who’s switching jobs November 22, 2016 TROWERS & HAMLINS International law firm Trowers & Hamlins announces the expansion of its real estate team in Exeter with the return of partner Georgina Savill James. Georgina was at Trowers & Hamlins between 2000 and 2015, and joins the firm again after a short time at Foot Anstey LLP. She specialises in acquisition and [...]
These are the top 10 most transparent FTSE 100 firms – showing it pays (£24bn) to be open November 16, 2016 Sometimes, reading through the London Stock Exchange’s RNS feed, it feels as though certain companies just don’t want to be understood. Others, clearly, do: a new study has named the top 10 FTSE 100 companies for transparency. Arm, the Cambridge-based chip designer that was acquired by Japan’s SoftBank for £24bn this summer, was named as [...]
Lloyds Banking Group drops over 1,000 jobs October 12, 2016 Lloyds Banking Group is cutting over 1,000 jobs as part of its previously announced three-year strategy. Although the bank is culling 1,340 positions in total, it is also creating 110 new roles, bringing the net jobs lost to 1,230. In October 2014, the bank announced it would be cutting 9,000 roles over a three-year period. In July of [...]
Q&A: Why are brands like Marks and Spencer pulling their advertising from Google? March 20, 2017 A newspaper investigation uncovered examples of several high profile brands being advertised against extremist content such as videos of a preacher banned from Britain and from white extremist David Duke insulting Jewish people. The BBC, Channel 4, The Guardian as well as the Financial Conduct Authority, Transport for London and the Royal Navy, advertising for [...]
City Moves for 30 November 2016 | Who’s switching jobs November 30, 2016 Close Brothers Asset Management Close Brothers Asset Management (CBAM) has strengthened its financial education corporate relationship team, making key appointments in senior positions. Mike Hardy (pictured) has been appointed as director of strategic partnerships having over 15 years’ experience in this area with senior positions at three FTSE companies; HSBC, Aviva and Lloyds Bank. His role [...]