Twelve reasons why the campaign for Brexit is quickly gaining momentum June 23, 2015 It was not long after the Conservative general election victory that the campaign for the UK to stay in the European Union was launched – no matter how disappointing the results of David Cameron’s renegotiation might be. Even before the Referendum Bill was published and the wording of the question set, the creation of [...]
Plastic Forth Bridge fivers are fine for laundering March 23, 2015 CLYDESDALE Bank will release Britain’s first plastic banknotes this week, with 2m £5 notes going into circulation. Giving new meaning to the phrase “flashing the plastic”, the polymer banknotes are being launched with a Scottish theme to mark the 125th anniversary of the Forth Bridge. The note features the image of Sir William Arrol, one [...]
Autumn Statement 2015: George Osborne’s speech transcript in full including stamp duty, business rates and corporation tax announcements November 25, 2015 Mr Speaker, this Spending Review delivers on the commitment we made to the British people that we would put security first. To protect our economic security, by taking the difficult decisions to live within our means and bring down our debt. To protect our national security, by defending our country’s interests abroad and keeping our [...]
Watchdog slaps £14.5m fine on RBS for advice August 27, 2014 THE ROYAL Bank of Scotland (RBS) was slapped with a £14.47m fine by the UK’s main banking watchdog yesterday over the quality of its mortgage advice. The penalty relates to two reviews of sales undertaken in 2012 – the Finance Conduct Authority (FCA) said that only two of the 164 mortgage agreements reviewed met the required standard, [...]
Independent Scotland faces “disaster”, says Harvard’s Kenneth Rogoff September 11, 2014 As the latest polls give breathing space to the Better Together campaign, Harvard economist Kenneth Rogoff has thrown his two cents into the Scottish independence debate. His remarks will make grim reading for the Yes camp. Speaking to CNBC, Rogoff said: "It's certainly a disaster for Scotland, first and foremost, it's going to be a [...]
Can Labour win in 2020? The tectonic plates are shifting in the Tories’ favour May 13, 2015 Deja vu about 1992 is back. In the immediate aftermath of the 1992 election, speculation was rife that the Labour Party would be out of power for a generation. Five years later, Tony Blair won in a landslide. Will we see the same political cycle over the coming years, with Labour gradually re-establishing itself and [...]
James Crosby-backed Moneybarn sold in £120m deal to Provident Financial August 14, 2014 Doorstep lender Provident Financial yesterday raised £120m to snap up Moneybarn, the motor insurer chaired by ex-Halifax Bank of Scotland (HBOS) boss James Crosby. The lender, which makes loans to people with poor credit scores, generated the cash in a matter of hours after mandating JP Morgan to raise the fund. Existing shareholder Invesco bought [...]
Don’t fear the SNP: The City can do business with Scottish nationalists May 12, 2015 When Parliament reconvenes next week, there will be many new faces among the throng of MPs being sworn in. For the first time, with no fewer than 56 representatives, the third largest party in the House of Commons will be the SNP. What will that mean for the City’s relationship with Westminster? On the one [...]
International arm of Queen’s bank Coutts could be sold off by RBS for $1bn August 11, 2014 Royal Bank of Scotland is considering selling off the international arm of its private bank Coutts for as much as $1bn under pressure from the UK government, reports suggest. The 18th century institution famous as the bank of the Queen, could be split in two, with one part remaining headquartered in Britain, according to Reuters. [...]
Philip Hampton is being lined up to replace Sir Christopher Gent as GSK’s next chairman August 7, 2014 Sir Philip Hampton is being lined up to take the role of chairman at Britain’s biggest drug company Glaxosmithkline after exiting Royal Bank of Scotland, Sky News reports. It’s said that Hampton will join GSK as early as next month as a non-executive director or deputy chairman, moving into the chairman’s seat by 2015. GSK’s [...]