National Australia Bank shareholders approve plans to demerge Clydesdale and Yorkshire Bank in IPO next month January 27, 2016 Shareholders in National Australia Bank (NAB), which owns Clydesdale and Yorkshire Bank, last night voted overwhelmingly in favour of plans to spin off Clydesdale and float it on the London and Australian stock-markets next month. Clydesdale Group, which includes Yorkshire Bank and is often referred to as CYBG, is valued at an estimated £2bn. It is one of the largest of [...]
Investec: Lloyds Banking Group will post a £2.3bn profit this week October 25, 2015 Lloyds Banking Group is expected to post a rise in quarterly profits on Wednesday, in its first set of results since chancellor George Osborne announced that retail investors would be able to buy shares of the bailed-out bank at a discount next year. Citing “modest revenue growth, lower costs and potentially no charge at all for [...]
As RBS shares plunge on the news of a £2.5bn profit hit, should the government delay privatising the bank? January 28, 2016 David Buik, market commentator at Panmure Gordon, says Yes. Yesterday’s announcement that RBS has had to make further provisions of £2.5bn for the mis-selling of mortgages in the US and PPI, as well as writing back Coutts’s valuation, should have come as no surprise. The task of both former chief executive Stephen Hester and more recently [...]
Financial watchdog tells banks to sort out current accounts as complaints soar October 1, 2015 The financial watchdog has called on banks to take action as the number of people complaining about their current accounts to banks soared 31.2 per cent over the past six months. The Financial Conduct Authority (FCA) released figures showing there has also been an 11.1 per cent increase in the number of customers complaining about [...]
Fines on nuisance call firms increased by over 300 per cent to £1.14m in 2015 December 29, 2015 Nuisance call companies have been warned to expect more fines in 2016 by the Information Commissioner's Office (ICO), as it was revealed it fined firms over 300 per cent more in 2015 than in 2014. The ICO imposed fines totalling £1.14m in 2015 on nuisance calls and text messages, "with the same in the pipeline for early [...]
Barclays results: British bank expected to sell off African operations and pay former chief executive Antony Jenkins a £500k performance bonus as it announces full-year results this week February 28, 2016 Barclays' new chief executive Jes Staley is expected to announce plans to sell off the lender's African business when the British bank reports full-year results for 2015 on Tuesday. It was widely reported over the weekend that Barclays' board decided last week that it made sense strategically for the British bank to exit the continent and refocus [...]
Clydesdale and Yorkshire banks announces intention to float with IPO in UK and Australia December 14, 2015 Clydesdale Bank today announced its intention to float on both the London and Australian stock exchanges. The British banking business, which is currently owned by National Australia Bank (NAB), confirmed plans for a demerger and initial public offering (IPO) in Februrary of next year. Clydesdale, which includes Yorkshire bank and is called CYBG Group in official documents, is [...]
FTSE 100 index closes up ahead of Federal Reserve statement as Sage Group and Glencore surge January 27, 2016 The FTSE 100 index closed higher on Wednesday, after having opened lower this morning ahead of the Federal Reserve's statement. The UK's blue-chip index closed 1.33 per cent up at 5,990 points. "Global equity prices continue zigzagging on a muddy route. The oil market remains in bears’ hands above $30," said Ipek Ozkardeskaya, market analyst at London Capital Group. [...]
Not responding to emails is cowardly and unprofessional February 8, 2016 Around this time last year, Lucy Kellaway wrote in the Financial Times that not responding to emails “breeds insanity”. “Grow up, no response is also a response,” one reader commented. This may be true, but it’s no way to do business. Last year, I was engaged in advanced negotiations with a big management consultancy – [...]
Government launches clampdown on nuisance calls from claims management companies October 2, 2015 The government is launching a review into how claims management companies (CMCs) are regulated, in an attempt to prevent them bombarding people with nuisance calls and text messages. In a statement today, the Ministry of Justice said it was calling for evidence of how the companies are monitored and controlled. Consumers, regulators, banks [...]