TSB results: Chief executive Paul Pester says the big banks have it far too easy as his challenger bank reports 22 per cent increase in customer lending for 2015 January 28, 2016 TSB Bank chief executive Paul Pester told City A.M. that the challenger bank "definitely went from strength to strength" in 2015, as the lender announced its full-year results this morning. The retail and commercial bank, which was carved out of Lloyds Banking Group in 2014, reported profits were ahead of expectations, with management profit before tax of £105.7m, while [...]
At the close: FTSE 100 index closes higher as the oil price rises with banks’ and miners’ share prices including Anglo American and Glencore rising despite housebuilders and HSBC’s share price falling February 22, 2016 The FTSE 100 index closed higher today after the price of oil rose and there was a bounce-back in mining companies and banking shares. The UK's blue-chip index rose 1.47 per cent to 6,037 points, led higher by Glencore and Anglo American. "Rallying commodity prices from crude oil to copper have boosted the beaten up [...]
Eyesore or beauty? The 14 postwar office blocks listed by English Heritage January 28, 2015 Whether you're a fan or take an altogether more "Prince Charles" attitude to post-war architecture, office buildings provide some of the finest examples of it. And turns out English Heritage thinks it's worth preserving: the organisation has listed 14 of the UK's best-loved (or most-hated) post-war offices. According to English Heritage, the buildings – which [...]
Immigration powers the City’s competitiveness: Don’t cut off the supply in the pursuit of an arbitrary migration target January 25, 2016 For centuries, the City has thrived on being open – open to those who want to come to a leading financial and business centre, work hard and contribute to the growth of the economy. And this openness is not limited to people from fellow European countries, but also to those spread across the globe. This [...]
School of hard knocks: How to cut the soaring cost of private education May 26, 2016 When it comes to our children, a good education is priceless. But if you’re talking about sending them to a private school, there is a hefty price tag, and it has been rising precipitously. To send a child to a private day school from 2015 to 2028 will set you back an average of £286,000, [...]
EU referendum: Asda, HSBC, Vodafone and nearly 200 sign letter saying Brexit would threaten jobs – but Tesco, Morrisons and Sainsbury’s are not on the list February 23, 2016 The bosses of HSBC, BT, Vodafone and Asda are among those to have put their name to an open letter backing the remain camp and Prime Minister David Cameron's reforms in Europe. More than a third of the UK's biggest companies were represented in the letter, which was published in The Times this morning, saying they represented [...]
Metro Bank investor interest deadline looms, as bank prepares for unconventional stock market float March 2, 2016 UK challenger Metro Bank is gearing up for its unconventional stock market float next week, looking to raise £400m from mostly institutional investors. On Monday Metro will have a so-called introduction to the market, meaning it will float without a public sale. In February Metro Bank cut the offer price in its fundraising round from £24 to £20 a share [...]
Cash isn’t dead and it isn’t even dying: Society won’t accept the demise of the humble banknote February 1, 2016 Seemingly every other day we see yet another article forecasting the death of cash and telling us that we will soon be making everyday transactions with wearable payment technology. Of course, the more tech-savvy of us probably will be, and many already are, but is the general UK consumer really ready and willing to adopt [...]
London drivers pay over £119m a year in traffic fines caught on CCTV November 19, 2015 London councils are raking in over £119m a year from traffic violations caught on CCTV, with motorists in the capital contributing 65 per cent of money made from traffic violations across the UK. According to Freedom of Information data from price comparison site confused.com, Ealing Council made the most revenue at £3m with the London Borough [...]
Scalpel tower in the City appoints CBRE as leasing agents as search for tenants kicks off November 9, 2015 CBRE has been hired as leasing agents on the Scalpel skyscraper in the City, as the search to find tenants for the 35-storey development in London’s insurance district gets underway. The property advisory firm will partner with Cushman & Wakefield, filling the gap left by the latter’s merger with DTZ, the previous joint agent. The 190m-tall [...]