Lloyds loses mortgage market share as HSBC and RBS rise July 18, 2018 Lloyds lost market share in UK mortgages last year as Royal Bank of Scotland (RBS), HSBC and a host of challengers gained, according to new data published today. Competitors to Lloyds bit off almost one per cent of their market share, which fell from 22.1 per cent to 21.2 per cent of mortgage balances outstanding [...]
Full stream ahead: With Spotify opting for an unusual IPO route, should investors be wary? March 20, 2018 Spotify, the streaming giant that prides itself on helping people discover music, is about to go public. The company plans to list on the New York Stock Exchange on 2 April, but it’s doing things differently – opting for a direct listing instead. This means that, instead of issuing shares, the private investors and [...]
SimplyBiz is set to float for £130m on the Aim market of the London Stock Exchange March 16, 2018 The SimplyBiz Group, which provides compliance and business services to financial advisers, had announced it will float in London next month for £130m. As the UK’s largest compliance services provider, SimplyBiz is expecting to raise £30m when it floats on 4 April. Selling shareholders – mainly Ken Davy, Life President of Huddersfield Town FC, and [...]
Engineering a big short: Hedgies build £1bn bet against Melrose March 19, 2018 Hedge funds have scrambled to build a £1bn bet against GKN suitor Melrose as Britain’s biggest hostile takeover for almost a decade approaches a critical shareholder vote. Almost a quarter of Melrose’s shares are on loan to short sellers hoping its pursuit of GKN will fail – figures that have risen sharply in the last [...]
Shareholders worth £47bn set to force Rio Tinto to review its relationship with industry bodies blocking climate change progress March 2, 2018 Investors with a combined £47bn under management have today filed a shareholder resolution against Rio Tinto, calling on the FTSE 100 miner to review its relationships with industry bodies blocking progress on climate change. The UK’s Church of England Pensions Board, along with the Australian Local Government Super fund and the Seventh Swedish National Pension [...]
“Alexa, what’s an annuity?” Insurance company Aviva is using Amazon Echo January 4, 2017 "Alexa, what's an annuity?" Now your Amazon Echo can tell you the answer to burning questions about insurance and guide you through the unfamiliar jargon of the industry. The Insurance giant Aviva has developed a so-called skill (like an app for smartphones) for the voice activated speaker which proved a big hit for Amazon over Christmas. Read more: [...]
Melrose has won the battle for engineering giant GKN as shareholders vote in favour of takeover March 29, 2018 The long-running takeover battle for GKN has finally drawn to a close, with Melrose Industries snatching the engineering giant from the grip of its board. The “most bitter takeover battle in recent memory”, according to Interactive Investor’s Lee Wild, will now end with London-listed Melrose merging GKN’s aerospace and driveline divisions into its existing structure [...]
Aviva chief exec: Turnaround is complete, so let’s get on with post-Brexit business January 19, 2017 Aviva today announced a large organisational shake-up that will enable the insurance giant to capitalise on the significant opportunities present by the Brexit vote. The group's UK operations, previously separated into life, general and health insurance divisions will be brought together under the leadership of current Aviva life chief exec Andy Briggs. Read more: Aviva shares jump 4.5 [...]
A sovereign wealth fund could diffuse the UK’s debt timebomb June 13, 2018 There’s a hint of sunshine peeping out from behind the grey clouds of austerity. After eight long years of belt-tightening, we’re living within our means at last. Our taxes cover our day-to-day spending on things like health, education, policing and defence, so we’re only having to borrow to invest in long-term infrastructure like roads and [...]
‘Not the City I recognise’: Helena Morrissey launches dinner to rival the condemned Presidents Club fundraiser January 25, 2018 City veteran Dame Helena Morrissey has launched a rival dinner to the widely condemned Presidents Club charity fundraiser, at which a number of female waitresses were found to have been sexually harassed in an investigation earlier this week. Morrissey, head of personal investing at Legal & General Investment Management, has already garnered support from names [...]