Lloyds to bank £1.5bn if TSB sale to Banco Sabadell goes ahead March 12, 2015 Lloyds is set to receive a final total of £1.5bn for TSB if the Banco Sabadell sale goes ahead – twice the £750m for which it had previously agreed to sell the lender to the Co-op Bank. The giant bank was forced to sell off TSB under the terms of its 2008 bailout. The [...]
City A.M.’s journalists take a look at what 2016 has in store for the world of finance and business January 4, 2016 BANKING Strengthening outlook despite more regulatory bumps ahead Bank of England governor Mark Carney may have declared the banking crisis officially over at the end of last year, but 2016 looks to be far from a challenge-free year for Britain’s biggest banks. To be sure, all seven of the UK’s leading lenders passed the Bank’s [...]
Partnership shares hit as insurer mulls possible debt transaction January 7, 2015 SHARES in insurance firm Partnership Assurance Group went down by 2.21 per cent yesterday, after the firm announced it was exploring the possibility of arranging a debt transaction. The group has hired Bank of America Merrill Lynch and Royal Bank of Scotland to arrange a series of fixed income investor meetings, beginning today, to assess [...]
Interest rates must rise “relatively soon” says Bank of England’s Martin Weale September 13, 2015 Interest rates will need to rise "relatively soon", Bank of England rate setter Martin Weale has said. The hawkish member of the BoE's monetary policy committee (MPC) has said inflation is likely to rise above the central bank's two per cent inflation target "in two to three years' time", which needs to be reflected in policy [...]
StanChart’s new man lifts FTSE to a record level – London Report February 26, 2015 Britain’s top equity index yesterday hit a record closing high – for the second time this week – helped by a surge in the share price of the Asian-focused bank Standard Chartered. Standard Chartered advanced by 5.4 per cent as traders welcomed its appointment of a new chief executive, former JP Morgan investment bank boss [...]
Government to give one-off milk payment for dairy farmers as Morrisons launches premium milk brand October 12, 2015 Struggling dairy farmers across the UK are to receive a one-off payment to help ease their cash-flow problems caused by the volatile price of milk, the government announced today. Farmers in the four nations of the UK will receive a cut of £26.2m between them. The Rural Payments Agency (RPA) plans to ensure the aid reaches [...]
On life, taxes and Osborne’s chance to beat a £20bn target March 18, 2015 If taxes are one of life’s few certainties, then taxes on banks are becoming just as predictable. Just when HSBC thought its lot could not get any tougher, up pops George Osborne with his bi-annual hike to the rate of the charge on lenders’ balance sheets. The chancellor’s final pre-General Election Budget included a commitment [...]
In the FinTech family: How crowdfunding is propelling peer-to-peer platform Assetz Capital forward April 8, 2015 Back in 2010, it became clear to the co-founders of Assetz Capital that the banking system was broken. So we set out to make a difference – not just to help restart business lending, but to make a long-lasting change for the better. The desire to develop a platform where businesses could access much-needed funds, [...]
RBS shortlists international groups for Queen’s bank sale January 14, 2015 J SAFRA Sarasin and a consortium comprising Singapore’s DBS Group Holdings are among banks shortlisted for the second round sale process of Coutts International, people familiar with the matter said yesterday. The sale of the private bank of Royal Bank of Scotland has attracted about 10 suitors in the initial round, and could fetch about [...]
Shoreditch meets the City: RBS, Lloyds and American Express challenge startups to create FinTech of the future March 9, 2015 Leading financial firms are laying down the gauntlet and challenging startups to come up with the next financial technologies of the future. Royal Bank of Scotland (RBS), Lloyds and American Express are just three of the finance firms putting their weight behind the search to find digital innovations which will address areas such as [...]