Asset manager Pemberton launches new debt strategy to fill funding gap left by banks July 5, 2017 Pemberton, a UK-based asset manager backed by insurance giant Legal & General, has launched a new private debt strategy to fund mid-market companies. The “strategic credit opportunities” strategy differs from Pemberton's previous offerings as it will provide junior capital, as well as senior. The junior capital, which has a lower repayment priority in event of [...]
Lloyds has unveiled a massive shake-up of its top team July 5, 2017 Lloyds Banking Group has revealed how it is preparing itself for its new strategic plan: a huge shake-up of its top team, which includes the departures of two of its senior executives. In a statement today the lender said Andrew Bester, the group director of its commercial banking team, and Simon Davies, its chief people, [...]
High London house prices are not a bubble waiting to burst July 5, 2017 History is replete with examples of financial bubbles, from Dutch ‘Tulipmania’ in the 1630s and the South Sea bubble of 1720, through to the Wall Street Crash of 1929 and the dot com boom and bust at the turn of the twentieth century. Could London house prices be the next big bubble to burst? To [...]
New Hamleys CEO Ralph Cunningham replaces Gudjon Reynisson July 4, 2017 Legendary toy store Hamleys has appointed a new CEO, promoting COO Ralph Cunningham to the role. He replaces Gudjon Reynisson, who has been with the company for nine years. Reynisson will now step into a vice chairman position. Read more: Peppa Pig, PJ Masks and Designated Survivor boost EOne revenues Cunningham joined Hamleys in 2013 [...]
An analyst has worked out what happens to London house prices under three scary political scenarios July 4, 2017 Politics: it's been decidedly unpredictable in recent years. Not surprisingly, the resulting uncertainty has led to homeowners taking a moment to consider whether now is the best time to buy or sell. Now an analyst at UBS Wealth Management has confronted three of property owners' scariest political nightmares head-on, working out exactly what would happen [...]
The Fed may not have investors’ backs for much longer July 4, 2017 For decades, the Federal Reserve has been the wingman to the US equity market, manipulating monetary policy to prevent the stockmarket from tipping into chaos. It was during the financial crisis of 1987 that the US central bank first came to the rescue by pumping liquidity into the financial system. Ever since, the Fed has [...]
Big UK banks slip down in global ranking, but Metro and the challengers make ground July 3, 2017 Big UK banks are suffering compared with international rivals, according to a ranking of the world’s 1,000 largest lenders out today. HSBC remains Britain’s biggest bank in the global ranking, coming in ninth for the second year in a row. However, the lender – which topped the 2008 ranking – suffered its worst result in [...]
The new voice of British banking: UK Finance launches today with new board members revealed July 3, 2017 The British finance industry will be publicly represented from today by a single new body, UK Finance, after the merger of six separate lobby groups. The new body, which officially starts operations today at Angel Court, behind the Bank of England, will represent over 300 British firms providing credit, banking, markets and payments services. The [...]
Innocent Drinks passes £300m in sales as European growth spikes July 3, 2017 Innocent Drinks, the UK smoothie-maker which is majority-owned by Coca Cola, passed sales of £300m for the first time last year as its European presence continues to expand. Sales grew by 23 per cent in the year to 31 December 2016, coming in at £303.5m. The company saw a return to profit, making £8.5m compared [...]
The 25 towns Londoners are leaving the capital for July 2, 2017 Samuel Johnson might have suggested being tired of London meant being tired of life, but he probably hadn't had to endure astronomical house prices or daily elbow wars on the Tube. Indeed, figures published by the Office for National Statistics (ONS) show the capital has the highest level of internal migration net outflow, aka people [...]