Gender agenda: Time for the finance world to up its game May 16, 2019 Next month will be one year since the Treasury Committee published its report on Women in Finance. But has anything happened over this period to provide a ripple of hope for change? To set the scene, back in 2015 the government appointed Jayne-Anne Gadhia to lead a review on women in financial services. In response [...]
Lloyds Bank unveils quarterly dividends payments amid pension pay row May 16, 2019 Lloyds Bank has announced plans to pay dividends quarterly from next year ahead of a potential shareholder revolt at today’s AGM. The bank said the move, beginning in the first quarter of 2020, would allow its 2.4 million shareholders to be paid more regularly and efficiently. Read more: Lloyds Banking Group: Q1 results analysis The [...]
Non-Standard Finance pushes forward with £1.3bn hostile takeover of Provident May 15, 2019 Sub prime lender Non-Standard Finance has dropped the number of acceptances needed to push forward with its £1.3bn hostile takeover of rival firm Provident Financial. NSF said in a statement that its offer was now unconditional in terms of acceptances by investors, with 5 June the last date on which the takeover may be declared [...]
EU officials mulling post-Brexit financial reforms May 15, 2019 European officials have reportedly drawn up draft plans for a major raft of financial regulations post-Brexit. Read more: Brexit party dominates EU election vote poll as Tories lag behind According to Reuters, the European Commission has composed a 12-page document setting out the body’s plans to speed up banking measures in what looks set to [...]
Specialist lenders One Savings Bank and Charter Court both boost loan books ahead of merger May 15, 2019 Challenger banks One Savings Bank and Charter Court have both reported loan book growth ahead of their proposed merger. One Savings Bank reported five per cent loan book growth to £9.4bn in the first quarter of the year, due to strong commercial and residential lending. Read more: One Savings Bank and Charter Court confirm £1.6bn [...]
Bank of England warned prosecutors against charging Barclays over controversial Qatar payments May 15, 2019 The Bank of England warned fraud prosecutors against charging Barclays over Qatar payments made at the height of the financial crisis, it has emerged. The Bank’s top regulator Sam Woods told the Serious Fraud Office in 2017 that criminal charges could pose a threat to Barclays’ safety and soundness, the Financial Times reported. Woods, [...]
Metro Bank shares continue to soar ahead of £350m capital raise announcement May 15, 2019 Metro Bank shares have continued to climb this morning as investor confidence grows ahead of the challenger bank’s £350m capital raise. The embattled bank is expected to announce the results of its fundraising efforts later today after the market closes. Read more: Metro Bank shares sink to fresh all-time lows after Whatsapp rumours Shares have [...]
Clydesdale Bank owner CYBG shares jump as it hits profit after £1.7bn Virgin Money merger May 15, 2019 Clydesdale Bank owner CYBG reported a profit boost in its first set of results since combining with Virgin Money after a “resilient” performance in tough market conditions. Read more: CYBG raises business banking fees weeks after RBS competition fund snub Shares in the bank rose more than seven per cent in early trading after the results [...]
Dyson travels down new path, but are customers on board? May 15, 2019 Plans for Dyson’s “radically different” electric car have been revealed. Founder James Dyson said that the patents were deliberately light on specifics, but hinted towards unusual proportions and off-road potential. Most famous for their vacuum cleaners and fans, this diversion into the motoring industry is a bold move. James Dyson explained the concept in a [...]
Metro Bank shares rebound from all-time lows after Whatsapp rumours quashed May 14, 2019 Metro Bank shares have rebounded today after plunging to all-time lows following false Whatsapp rumours of fresh financial turmoil. The challenger bank’s share price has risen 7.7 per cent this morning, returning to 511p – similar levels as yesterday morning. Read more: Metro Bank denies rumours of financial trouble ahead of fundraising But the stock [...]