After financial crisis hit, retail banks are building up their reputations (to “average”): These are the UK’s most and least trusted lenders | City A.M. May 31, 2017 The reputation of UK retail banks is growing, with Nationwide, Virgin Money and Halifax leading the way. But Royal Bank of Scotland, TSB and HSBC are trailing others in the latest UK RepTrak ranking, compiled by the Reputation Institute. The figures, based on more than 35,000 UK customer ratings collected in the first quarter of [...]
Irish government confirms plans to float €12bn-valued Allied Irish Banks in London and Dublin May 30, 2017 The Irish government has confirmed it will be floating state-owned Allied Irish Banks (AIB) in London and Dublin. The initial public offering (IPO) will see the government dispose of a 25 per cent stake in the lender. It is thought the float deal could value the bank at €12bn, which would make it London’s biggest [...]
The new space race: Private companies are getting into the business of space travel – and it could produce the world’s first trillionaire May 30, 2017 Five-minutes’ drive from Kennedy Space Center, among the marshes and pine trees of Merritt Island Wildlife Reserve, lies Shuttles Restaurant & Bar. On the back wall is a massive photograph of the Space Shuttle Atlantis, soaring into space on the back of an orange fuel tank. Bolted to its side are two white rockets, spouting [...]
Crossrail’s coming (a bit later than planned): Date for first Elizabeth Line train to enter passenger service pushed back until June 2017 May 30, 2017 The first Elizabeth Line services for London’s £14.8bn Crossrail project have been pushed back until next month, for thorough testing of the train to be completed. The first new train was meant to enter passenger service between Liverpool Street Main Line and Shenfield by the end of this month, but Transport for London (TfL) has [...]
There is a “real opportunity” for UK businesses to build non-EU relationships after Brexit, says S&P Global Ratings May 30, 2017 Brexit could create a “real opening” for UK businesses to develop closer trading ties with non-EU economies, according to S&P Global Ratings. Although exiting the European Union is likely to cause “significant uncertainty” in the next two years at least, an S&P Global report out today forecast opportunities in the medium term. Read more: May [...]
EasyJet founder Sir Stelios Haji-Ioannou has signed up to Bill and Melinda Gates’ Giving Pledge and plans to give away the majority of his wealth May 30, 2017 EasyJet founder Sir Stelios Haji-Ioannou is among the 14 new signatories to commit to the Giving Pledge, joining the echelons of the super-rich who intend to give away the majority of their personal wealth. Sir Stelios, who has set up a range of businesses under the “easy” brand, is worth an estimated £1.95bn according to [...]
Mid-market M&A pricing in Europe increases as private equity funds pay record high levels May 30, 2017 The price which buyers will pay for mid-market companies in Europe has increased by 1.2 per cent in the first quarter of 2017, according to the Argos Mid-Market Index from Epsilon Research and French investment firm Argos Soditic. Buyers paid an average of 8.6 times earnings before interest, tax, depreciation and amortisation (Ebitda), while the [...]
UK house prices: Demand for homes drops due to uncertainty around the General Election May 30, 2017 The demand for homes stuttered in April due to uncertainty around the General Election, according to the National Association of Estate Agents (NAEA). The number of house-hunters registered per estate agent branch fell in April, the property body found. There were 381 house hunters per branch in April compared to 397 in March and close [...]
Leisure will be key to the future of London retail May 30, 2017 London retail has a positive future. Hardly a revolutionary statement in isolation, particularly to the many millions of people who live, work and visit the capital and experience its unparalleled consumer offer. However, there are challenges too: technology, changing shopper habits, and predictions of falling consumer confidence. April saw the biggest quarterly fall in retail [...]
Dream on, the UK is not going to be a cashless society any time soon | City A.M. May 30, 2017 The next few years will be decisive in determining what payments and financial services will look like for decades to come. Driving this is a huge change in the way people manage their money – something that affects all of us as we go about our daily lives. The pace of change is only set [...]