Bridgepoint revenues and assets both jump by over 50 per cent in first results since IPO September 15, 2021 Private equity firm Bridgepoint’s assets under management swelled by 54 per cent year-on-year to €29bn in the first half of 2021, as the economy recovered from its pandemic lows and investor interest in its alternative asset classes surged. Upon listing in July, the buyout group’s shares soared by up to 30 per cent, and have [...]
Spending watchdog slams government’s Green Homes Scheme September 8, 2021 The National Audit Office (NAO) has criticised the government’s abandoned £1.5bn Green Homes scheme as “rushed,” saying it frustrated homeowners and failed to create jobs. The Green Homes grant scheme was introduced to help meet the Government meet its ambitious target of net-zero carbon emissions by 2050. Buildings account for 19 per cent of UK [...]
US financial markets watchdog chief warns cryptocurrency platforms will not survive without oversight September 1, 2021 The chief of the US financial markets watchdog has warned that cryptocurrency trading platforms are unlikely to have any future unless they collaborate with regulators. Gary Gensler, chairman of the Securities and Exchange Commission, that if the industry is going “to have any relevance five and 10 years from now, it’s going to be within [...]
Covid emergency loan schemes push UK challenger bank lending to record high August 30, 2021 Lending by British challenger banks surged to a record high last year driven by businesses rushing to capitalise on emergency Covid loan schemes, according to new figures published today. Research by accountancy firm BDO shows challenger bank lending climbed 11 per cent over the last year to £143bn, a record high, up from £128bn in [...]
Flying high: Former RBS and RSA boss Stephen Hester to be next Easyjet chairman August 23, 2021 City heavyweight Stephen Hester, who led RBS and insurer RSA, has been named the next chairman of budget airline Easyjet. Easyjet this morning named Hester as its director and chair designate. Hester will join the Board as a non-executive director on 1 September and then he will succeed John Barton as the airline’s chair on [...]
Flying high: Former RBS and RSA boss Stephen Hester to be next Easyjet chairman – CityAM : CityAM August 23, 2021 City heavyweight Stephen Hester, who led RBS and insurer RSA, has been named the next chairman of budget airline Easyjet. Easyjet this morning named Hester as its director and chair designate. Hester will join the Board as a non-executive director on 1 September and then he will succeed John Barton as the airline’s chair on [...]
Locked out: Sky broadband outage hits online banking apps August 20, 2021 A string of online banking apps, including HSBC and Santander, all experienced malfunctions this morning, which was down to a Sky broadband issue. Hundreds of customers had reportedly been locked out of HSBC, Santander, NatWest, Halifax and TSB apps and online banking websites. The banking app for TSB was also thought to be experiencing an [...]
Digital banks pull ahead of high street rivals in battle for consumers’ wallets August 17, 2021 Digital banks are pulling ahead of their traditional high street rivals in the battle to deliver strong customer services, according to findings from the competition watchdog. The Competition and Markets Authority found that Monzo, Starling Bank and First Direct are the top banks for customer service in Britain. The CMA conducted a survey of 1,000 [...]
Convicted Libor rigger unable to open a bank account after prison term August 16, 2021 Tom Hayes, who was convicted for rigging Libor interest rates, has said he cannot get paid after seven banks have barred him from opening an account. The former City trader was found to have acted dishonestly in trying to risk the benchmark interest rate while at UBS and Citigroup between August 2006 and September 2010. [...]
Monzo savings partner pauses products amid money laundering probe August 14, 2021 OakNorth, a Monzo partner that provides savings products for the challenger bank, temporarily withdrew offers for new customers a fortnight after it emerged that the FCA had launched an investigation into the British digital bank over possible money laundering activity. Challenger bank OakNorth, which is one of the lenders that have provided £1bn worth of [...]