Lloyds invests in new digital banking platform November 7, 2018 Lloyds Banking Group said today it had invested in a fintech company whose tech it plans to roll out next year, in the bank’s latest bid to enhance its digital presence. Lloyds has invested £11m for a 10 per cent stake in Thought Machine, which is building a new cloud-based platform aimed at replacing current [...]
Solar-energy giant Lightsource BP expands US business November 7, 2018 Lightsource BP, Europe’s biggest solar energy developer, has signed deals for two new solar projects in the US, the company announced today. The UK-based company, which specialises in the development, acquisition and long-term management of large-scale solar projects and smart energy solutions, will build the 16 megawatt (MW) Wildflower Solar plant in California and a 9 MW solar [...]
Shareholders at Randgold Resources vote to back merger with Barrick Gold November 7, 2018 Shareholders at Randgold Resources overwhelmingly backed the miners proposed $6bn (£4.6bn) merger with Barrick Gold today. At an extraordinary general meeting in Jersey today 95 per cent of voters backed the tie-up which has been agreed in September, clearing the required hurdle of 75 per cent. On Tuesday Randgold reported a 25 per cent profit [...]
Barclays economists predict orderly Brexit and boost to UK stock markets November 7, 2018 An orderly Brexit is on the cards and could ultimately make UK stocks “more investable” to global investors, Barclays analysts have predicted. The bank's European equity strategy division has predicted a Brexit deal will be agreed by the end of the year accompanied by a rebound in the pound. But it said the relative performance [...]
Irish Prime Minister casts fresh doubt on chances of reaching November Brexit deal November 7, 2018 Irish prime minister Leo Varadkar has said hopes of reaching a Brexit deal later this month are fading, echoing comments by the EU's chief negotiator Michel Barnier that "we are not there yet". Speaking at a conference while on a visit to Helsinki, Finland, the Taoiseach said: “I do think that, with every day that passes, the possibility [...]
Brexit bilateral deals will create a ‘migraine’ for private aviation, says industry CEO November 7, 2018 Bilateral aviation agreements with the EU after Brexit would create a "migraine" for the private jet industry, the boss of global booking platform PrivateFly has said. PrivateFly chief executive Adam Twidell, a former RAF pilot who launched the business with his wife Carol in 2008, told City A.M. that the possibility of Britain striking a number of [...]
Barnardo’s loses pension scheme appeal in Supreme Court November 7, 2018 The Supreme Court ruled yesterday that children's charity Barnado's can not change the index it uses to protect pensions from inflation. In a unanimous verdict judges ruled the charity may not switch the measure of inflation used on its pension scheme from the retail prices index (RPI) to the consumer prices index (CPI). The move to [...]
Don’t look now: UK car sales slump hits car dealer Lookers November 7, 2018 Car dealer Lookers reported positive trading today despite a fall in profit from new cars as the industry continues to reel from new regulations. Lookers said gross profit from new cars was down five per cent year on year in the nine months to the end of September, citing a shortage in supply following strict [...]
Bank of England slaps rare personal fines on Japanese bankers for failing to disclose ban November 7, 2018 THE BANK of England has fined a Japanese banker for not disclosing that he was about to be banned from activities in the US. Akira Kamiya, former chair of Mitsubishi UFJ Securities’ (MUFG) EMEA division, was charged £22,700 by the Prudential Regulation Authority (PRA) for not disclosing he was personally investigated when the bank was [...]
Thousands could have PPI claims retried after FCA issues new guidelines November 7, 2018 UK banks could be forced to write to around 150,000 customers who may have been mis-sold payment protection insurance (PPI) as next year’s deadline to claim compensation looms. The Financial Conduct Authority said it is proposing the new rules so that customers who have complained unsuccessfully will know they have a second chance. Customers will [...]