Severe delays on Victoria line after person dies in train collision; Highbury & Islington station remains closed February 20, 2018 There are severe delays on the Victoria line after a person died in a train collision in north London. The incident occurred at Highbury & Islington earlier this afternoon, and the line was initially suspended between Seven Sisters and King’s Cross stations, however, full service has since resumed. British Transport Police (BTP) said: “A person [...]
Treasury Select Committee publishes full “disgraceful” report into RBS’ restructuring unit and “profit centre” GRG February 20, 2018 The Treasury Select Committee has published the FCA’s unredacted report into Royal Bank of Scotland’s restructuring unit GRG after MPs agreed to do so this afternoon. The full report, which is available here, appears to be the same as others that have been widely circulated having been leaked in recent weeks. It makes clear that [...]
Melrose presses on with GKN bid despite reporting a loss for the year February 20, 2018 Melrose is ploughing ahead with its hostile bid for GKN despite reporting a loss for the full year. The figures In the year ended December 2017, the industrial turnaround specialist reported a pre-tax loss of £27.6m for the year, down from a £69.3m loss the previous year. The loss came as the company incurred “significant” [...]
Fuller’s buys West Sussex craft brewer Dark Star for undisclosed sum | City A.M. February 20, 2018 London brewer Fuller’s has taken over Dark Star, a craft beer business based in West Sussex. The deal will give Dark Star access to funding so that it can expand into new markets, as it continues to operate as a standalone business. Dark Star’s managing director James Cuthbertson said: “The deal means we will continue [...]
Wigan to investigate FA Cup pitch invasion as Manchester City seek answers following Sergio Aguero confrontation February 20, 2018 Manchester City are seeking an explanation from Wigan Athletic for the pitch invasion that occurred following their shock 1-0 loss in the FA Cup fifth-round on Monday night. City striker Sergio Aguero had an altercation with a fan as supporters of the League One side spilled onto the DW Stadium pitch to celebrate their against-the-odds [...]
Monzo users can invest cash with Moneybox app thanks to Open Banking February 20, 2018 Monzo users can now invest their cash by rounding up purchases to the nearest pound. Fellow fintech startup Moneybox has added support for Monzo using the digital challenger bank’s API. Read more: The regulator just approved Monzo’s first move outside the UK The Moneybox app is designed to encourage more people not only to save, [...]
HSBC takes $188m hit from Carillion and Steinhoff write-downs February 20, 2018 HSBC has been forced to take a $188m (£135m) hit from the fallout of collapsed contractor Carillion and troubled retailer Steinhoff. In its annual results presentation, the British banking giant said loan write-downs were “mainly driven by two individual corporate exposures”. City sources said the two companies in question were Carillion and Steinhoff. HSBC was [...]
HSBC share price falls: Doubled profits miss expectations as Gulliver goes on his travels February 20, 2018 HSBC more than doubled full-year profits but missed analyst expectations in an early hours announcement today. Shares in the lending giant fell nearly five per cent in the first hour of UK trading. Profit before tax was $17.2bn compared with $7.1bn in 2016. Analysts had projected a bottom line of $19.7bn. “These good results demonstrate [...]
William Hill slapped with £6.2m fine after money laundering failings allowed criminal-linked money to be wagered February 20, 2018 Bookmaker William Hill has been slapped with a multi-million pound fine for “systematic social responsibility and money laundering failures”. The Gambling Commission handed down penalties of £6.2m following breaches between November 2014 and August 2016. The regulator’s investigation found senior management failed to have sufficient controls in place. This resulted in 10 customers being able [...]
The European Central Bank is getting a new deputy, but don’t expect a hawkish change of direction February 20, 2018 As Europe’s leaders prepared to choose a new vice president for the continent’s central bank, the campaign for the appointment proved brief and anything but hard-fought. The successful candidate was Luis de Guindos, Spain’s current minister for the economy. Finance ministers from the 19 countries that use the euro met yesterday to decide between two [...]