Lloyds Bank profit slides as interest rate boom slows July 25, 2024 Lloyds Banking Group recorded a slide in profit in the first half of the year after a surge in costs and a slowdown in the amount of cash it was making on the back of interest rates. The group – which owns Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows – reported a pretax [...]
Unilever shares surge to the top of the FTSE 100 despite sales miss July 25, 2024 Dove and Marmite-maker Unilever missed its sales targets in the second quarter of the year as a turnaround plan from chief Hein Schumacher failed to convince customers.
Reform UK’s Habib prepares for activist investor scrap July 25, 2024 Ben Habib is not a man averse to a fight. Five months ago, Reform UK’s then deputy leader was standing atop a battle bus in Wellingborough laying siege to the record of the Tories and shouting up the benefits of lower income tax and the dangers of net-zero. The months since then have not been [...]
FCA spent too long ‘looking in on itself’ says former executive July 24, 2024 The Financial Conduct Authority may be sleepwalking into the next financial scandal after spending too long “looking in on itself”, a former senior official has warned. Speaking on the Following the Rules podcast, ex-regulator Gavin Stewart, former chief risk officer at the FCA and a veteran of its previous incarnation, the Financial Services Authority (FSA), [...]
Home REIT sister fund calls in investment manager to lead rescue effort July 23, 2024 A Home REIT sister fund under investigation by the City regulator has called in a new investment manager to try and save it from collapse and salvage tens of millions of pounds of pension cash, City A.M. can reveal.
Merge council pension schemes to unlock £40bn investment bonanza, Reeves told July 23, 2024 Forcing the UK’s sprawling local government pension schemes (LGPS) to merge into a single “sovereign wealth fund” could unlock £40bn worth of investment for British infrastructure projects, a top pension manager has said.
French media firm Canal+ to list on London Stock Exchange in boost for the City July 22, 2024 French conglomerate Vivendi has confirmed plans to spin off and list its television business Canal+ on the London Stock Exchange today, in what would be another boon to the City’s bourse after signs of a revival in recent months.
Aviva and Lloyds among City firms to back National Wealth Fund investment drive July 22, 2024 The Investment Delivery Forum, founded by seven of the UK’s biggest insurance and long-term saving firms, has pledged to pump billions of pounds into Reeves’ new wealth fund.
Hargreaves Lansdown extends deadline for £5.4bn private equity takeover July 19, 2024 Hargreaves Lansdown has extended a deadline for its potential £5.4bn takeover by a consortium of private equity bidders today, as it looks set to become the latest London firm to shift into private hands this year.
Nationwide’s £2.9bn swoop on Virgin Money gets go-ahead from CMA July 19, 2024 A tie-up between Nationwide and Virgin Money has got the greenlight from the competition watchdog today, paving the way for the £2.9bn deal to close in the final quarter of this year.
