Kurt Geiger: Customers will remember retailers’ coronavirus response April 17, 2020 Businesses that protect employees and support the NHS during the coronavirus pandemic will be rewarded by customers when the crisis is over, according to Kurt Geiger’s chief executive. “Customers will remember who has done the right thing, and who maybe hasn’t, and we want to be on the right side of that when we come [...]
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 [...]
FTSE 100 ends April in a slump as coronavirus batters Shell and Lloyds April 30, 2020 The FTSE 100 fell dramatically today after oil giant Shell slashed its dividend in response to the plunge in demand for oil amid the coronavirus pandemic and Lloyds profits slumped. The sell-off gathered speed throughout the day, with the FTSE 100 index ending 3.5 per cent lower at 5,901 points. It came after a dramatic [...]
FCA pushes car finance firms to halt repossessions amid coronavirus April 17, 2020 The UK’s financial watchdog has proposed a freeze on car finance repayments, ruling out repossessions of vehicles during the coronavirus crisis. The Financial Conduct Authority (FCA) told car leasing firms today to offer three-month repayment pauses for customers in financial difficulty as a result of coronavirus. “We are very aware of the continued struggle people [...]
City fitness studio fears insolvency after being rejected for CBILS coronavirus loan April 20, 2020 The director of a City fitness studio said he fears the company could go bust after being rejected for support under the Coronavirus Business Interruption Loan Scheme (CBILS). Victus Soul, a fitness studio in Mansell Street near Aldgate, launched in November 2018 and turned a profit from last November. The business offers high intensity training [...]
Nationwide further tightens criteria for new mortgages as coronavirus crisis bites April 1, 2020 Building society Nationwide has further tightened its lending criteria, excluding bonus, overtime and commission as income it recognises for new mortgage applications. The move follows its decision yesterday to withdraw its offering for low deposit borrowers. Nationwide yesterday withdrew mortgages above 75 per cent loan-to-value (LTV) from its online and broker channels and restricted them [...]
Judgment imminent in Lloyds’ shareholders £600m financial crisis-era group action October 31, 2019 The long-awaited judgment in a financial crisis-era shareholder action against Lloyds Banking Group and five former directors of Lloyds TSB is expected imminently, according to people close to the case. The £600m claim focused on Lloyds TSB’s acquisition of HBOS in autumn 2008 at the height of the financial crisis. The claimant group of 300 [...]
Schroders and Lloyds JV appoints IG Group boss as CEO October 7, 2019 The wealth management joint venture between Schroders and Lloyds Banking Group has appointed former IG Group boss Peter Hetherington as its new chief executive. Hethrington worked at IG for 25 years after joining the firm as a graduate trainee and spent 13 years as its chief operating officer and executive director before taking the top [...]
Covid-19 shone a spotlight on hidden abuse — now we cannot afford to stop fighting August 4, 2020 The Covid-19 crisis has thrown the issue of domestic abuse into sharp focus. The sudden shift to working from home as offices closed meant that many victims were unable to access what is often their only safe space: the workplace. With those at risk suddenly forced to remain at home with their abusers during lockdown, [...]
Banknote printer De La Rue set for review of finances February 15, 2020 The Bank of England’s banknote printer, De La Rue, is set for talks with its lenders after calling in advisers to review the business. De La Rue’s banking syndicate, led by HSBC, has appointed FTI Consulting to negotiate the future of its borrowing arrangements with lenders, according to Sky News Last November, the firm said [...]