UK banks boost the number of female directors October 5, 2015 Women make up almost one-third of board members at Britain’s biggest banks, according to a new report out today from the financial services recruitment firm Astbury Marsden. The recruiters say that the share of female board members has risen by more than 50 per cent in just three years, from 19 per cent to 31 [...]
Shawbrook poaches big hitter Steve Patemen from Santander October 5, 2015 Challenger bank Shawbrook has snatched a top exec from Santander UK, saying over the weekend that Steve Pateman would take over as chief executive at the start of 2016. Pateman was an executive director and head of UK banking at Santander UK, running the firm’s corporate, commercial, business and retail banking operations along with wealth [...]
German chancellor Angela Merkel defends Germany’s reputation as a good place for business after the VW scandal October 4, 2015 German chancellor Angela Merkel has said that the emissions scandal engulfing German carmaker Volkswagen is "drastic" but shouldn't damage the country's reputation as a good place to do business. "I believe the reputation of the German economy and the trust in the German economy has not been shaken by this to the extent that we [...]
Insurer Prudential dusts off plans to leave the UK over EU regulations Solvency II October 4, 2015 One of the UK's largest insurers is reportedly mulling upping sticks in favour of Hong Kong or Singapore ahead of European Union regulations which are set to be introduced next year. Prudential is dusting off plans drawn up over three years ago to move its corporate base out of Britain and into Asia, according to the [...]
Tesco first half results: Three things to expect from half-year interims and Dave Lewis on Wednesday October 4, 2015 Tesco is due to reveal first half results on Wednesday, and just over a year on from the supermarket shocking the City with a quarter of a billion-pound black hole in its financials, all eyes are on how far through it really is in turning things around. With a bulging balance sheet and market share [...]
Secure Income Reit completes £903m loan deal October 2, 2015 Secure Income Reit, led by chairman Martin Moore, has today completed a £903m loan deal in a move that paves the way for the company to start paying out dividends to shareholders. The fixed-rate loan will last 10 years and is secured against the group's £1,3bn property portfolio. Today marks the third drawdown of a three-facility arrangement. The third and final loan is valued at £315.6m, [...]
The Competition and Markets Authority wants to review O2 merger with three October 2, 2015 The UK's competition regulator has asked the European Commission for a review an upcoming deal to create one of the UK's biggest mobile operator to be referred to it. The Competition and Markets Authority (CMA) said that the proposed deal between Hutchinson's Three and Telefonica's O2 threatens to significantly affect competition in the UK mobile markets. This is because a successful [...]
Volkswagen emissions scandal: UK government confirms customers will not have to pay additional tax on diesel “cheat” cars October 2, 2015 British Volkswagen customers will not have to pay additional taxes if their cars are found to have been fitted with the "detect devices" that allowed vehicles to cheat on emissions tests, the government has confirmed. Customers will not be liable to pay a higher vehicle excise duty on diesel cars that may not actually [...]
Redcar steel plant owner SSI goes into liquidation October 2, 2015 It's been reported that the company behind a steel plant mothballed late last month with the loss of 1,700 jobs, has gone into liquidation. The BBC has reported that the Thai parent company of SSI, which owns the Redcar steel plant, has applied to a court in Thailand to wind up its UK arm. The [...]
Equiniti Group set for £390m London float October 2, 2015 Investor services firm Equiniti Group confirmed its plans to float on the stock market today. Equiniti, which provides share registration and investor services, said it planned to raise £390m through the float on the main market of the London Stock Exchange. The company intends to use proceeds from the IPO to reduce debt, which currently stands at £440m, and pursue potential [...]