Mark Kleinman: British Steel, Freetrade’s Future and Investment Association grumbles February 23, 2023 I wasn’t wrong a few weeks ago when I wrote here that sorting out Britain’s financially troubled steel industry would ultimately be someone other than Grant Shapps’ mess to clean up. What I didn’t anticipate then was that just a month later Kemi Badenoch would become the fourth business secretary in six months given the [...]
Bird & Bird hands staff £1,000 each to deal with UK’s cost-of-living crunch July 5, 2022 London law firm Bird & Bird is set to pay £1,000 bonuses to more than 300 of its staff to help them deal with the cost-of-living crisis. The law firm said it will give £1,000 “cost of living allowance” payments to all employees who earn less £50,000 per annum this month, to help them manage [...]
Omicron fears set in at British firms as UK economy hurtles toward contraction December 21, 2021 Omicron fears are embedding into British businesses in a sign that the UK economy is headed for a period of contraction, reveals a new study released today. Business confidence dropped to 32 per cent in early December, down from 40 per cent in just a matter of days from late November, according to Lloyds Bank. [...]
Morgan Stanley throws weight behind Thought Machine in $160m funding round May 18, 2022 Morgan Stanley has thrown its weight behind London fintech Thought Machine in a $160m funding round announced today, as the London-based cloud banking firm gears up for international expansion.
Property boss launches £1.5bn legal claim against Lloyds over Libor hit March 19, 2022 The former Centre Point owner has tabled a £1.5bn legal claim against Lloyds Banking Group, pointing to the Libor scandal as reason for his property firm’s woes. Founder of property investment firm Targetfollow, Ardeshir Naghshineh, said he would have never taken out certain loans if he had knowledge of the Libor benchmark being manipulated fraudulently. [...]
Nationwide boss takes aim at rivals over bank branch closures May 29, 2022 The outgoing chief executive of Nationwide Building Society has taken aim at rivals for shuttering swathes of branches around the country, as he doubled down on the firm's commitment to maintaining its high street presence.
Lloyds hires Barclays exec to lead debt capital markets division August 23, 2021 Barclays exec Miray Muminoglu has been appointed as the new head of Lloyds Bank’s financial institutions debt capital markets and securitised products group. Muminoglu, who currently works as managing director, head of term funding within Barclays’ group treasury unit, will join Lloyds Bank in London this November, reported Financial News. Muminoglu has over 30 years [...]
Mark Kleinman: The inquest into Wilko’s demise has only just begun September 14, 2023 Mark Kleinman is City editor at Sky News Inquest into Wilko’s demise has only just begun Few things elicit British consumers’ sentimentality like the imminent disappearance of a once-proud high street name. For Woolworths in 2009 and BHS in 2016, read Wilko in 2023. The sad fate of more than 10,000 employees at the family-owned [...]
UK banks return to amassing default reserves amid inflation and mortgage crunch October 26, 2022 Barclays said profits had jumped six per cent in the third quarter of the year as it became the latest lender to see performance buoyed by rising interest rates.
The starter gun has been fired on moving trade into the 21st Century September 20, 2023 The Electronic Trade Documents Act came into force today, enabling all companies using English law to remove paper and transition to a system where transactions can be fully paperless.