In a rare move, HMRC is refunding some parents who were liable for the child benefit charge – here’s what you need to know November 8, 2018 It is unusual for HMRC to admit that it has been too heavy-handed, so last week came as a welcome surprise to many parents who have been hit with fines in relation to child benefits. If you are responsible for bringing up a child under 16 (or under 20 if they are in education), you [...]
Mind your own business and stay out of Persimmon’s bonus scheme November 8, 2018 The news that Jeff Fairburn has been asked to leave Persimmon in the wake of the furore over his £75m bonus should not come as a surprise. There is a febrile atmosphere of media scrutiny when it comes to such matters, and shareholders had already branded the long-term incentive scheme pay-out as “grossly excessive”. Unfortunately, [...]
Peer-to-peer lender Zopa rakes in £60m fundraising round November 8, 2018 British peer-to-peer lender Zopa will today reveal the final close of its fundraising round at £60m, tacking on an additional £16m in investment to the £44m it raised earlier this year. Though no investor names have been disclosed, Zopa said both new and existing investors participated in the round. Some of its backers to date include [...]
Food can’t save M&S as it posts weak results again November 8, 2018 High street bellwether Marks and Spencer issued another disappointing set of figures yesterday and warned that sales are unlikely to pick up any time soon. Shares closed down 0.5 per cent, having been over three per cent down earlier in the day. M&S warned of tough trading conditions due to fierce competition from online competitors [...]
City Moves for 8 November – who’s switching jobs at Civilisedbank, Legal & General and Avon? November 8, 2018 Who’s switching jobs today? Civilisedbank Civilisedbank, the digital small and medium enterprise (SME) bank with relationship managers, announced the appointment of commercial finance expert Nick Baker as head of intermediaries. Nick joins from a national commercial mortgage broker, where he was managing director for five years, responsible for day-to-day operations and the development of the [...]
Crowdcube raises £8.5m from Revolut backer Draper Esprit and Channel 4 November 7, 2018 Equity crowdfunding platform Crowdcube has today announced the close of a £8.5m fundraise, led by venture capital firm Draper Esprit and supported by Balderton Capital and Channel 4's commercial growth arm. Draper disclosed a £6m stake in the company as part of its investment, with the full round to be complemented by a crowdfunding campaign later [...]
Royal Mail shakes up management after series of setbacks as senior executive departs November 7, 2018 One of Royal Mail's top executives has agreed to step down from her role as the postal service shakes up its senior management following a series of knocks to its share price. Sue Whalley, head of the UK post and parcels division, will depart in March next year, and has left the board with immediate [...]
City Moves for 7 November – who’s switching jobs at Dolfin, Brewdog and Whistl? November 6, 2018 Who’s switching jobs? Check out these movers and shakers… Dolfin Dolfin, the independent and agile wealth management platform, has appointed Richard Gray as head of investment management, a newly created role within the firm. In his new position, Richard will lead Dolfin’s investment team and further strengthen its asset management capabilities to best meet the [...]
Asset managers call for greater transparency in the bond market November 6, 2018 Asset management firms have called for increased clarity in the bond market, saying that the poor availability of data is undermining transparency in the sector, according to the industry body. Investment Association members have called for the industry to improve the availability of data by developing an electronic system which would provide real time data [...]
Ad giant bids farewell to Dame Cilla Snowball November 6, 2018 Advertising supremo and major City figure Dame Cilla Snowball revealed today that she is stepping down from her role as group chairman and chief executive of Abbott Mead Vickers (AMV) BBDO. The boss of the UK’s largest advertising agency is bringing an end to a 26-year stint at AMV, with plans to pursue a portfolio-based [...]
