FCA overdraft rules: What they mean and which banks have hiked fees December 18, 2019 Millions of people may see changes to their available bank balances today as new overdraft rules from the financial watchdog covering how overdrafts are displayed come into effect. The Financial Conduct Authority (FCA) has ordered UK banks to stop including overdrafts in funds marked as “available” to customers, in a move designed to make it [...]
Bet365 boss Denise Coates pockets bumper payout as profit rises December 18, 2019 Bet365’s billionaire founder Denise Coates, the highest paid woman in Britain, paid herself more than £320m last year as the gambling giant increased its profits. Financial filings show that the company’s highest paid director earned £276.6m in the year ended 31 March, along with a half of a £92.5m dividend. Read more: Bet365 boss pockets massive [...]
Queen’s Speech: Everything you need to know December 18, 2019 Queen Elizabeth II will make the trip from the palace to Westminster tomorrow to deliver her second Queen’s Speech in less than three months. She will lay out the new government’s agenda in the speech, while also officially opening parliament for a new term. Read more: Queen’s Speech plots path for pensions dashboards and new [...]
UK house prices: Growth slows to seven-year low December 18, 2019 UK house price growth slumped to the lowest level in seven years in October driven by a 1.6 per cent price drop in London. UK house prices grew by 0.7 per cent in the year to October – compared to 1.3 per cent the previous month – the slowest rate since September 2012. Between September [...]
Whirlpool apologises after washing machine recall website crashes December 18, 2019 A website Whirlpool created to help customers check if their washing machine is one of 500,000 being recalled over a fire risk is still down a day after the firm sounded the alarm over its products. The company set up washingmachinerecall.whirlpool.co.uk yesterday, a site where customers can check the status of their own machines, but [...]
Staffline shares plunge as recruiter slashes profit forecasts December 18, 2019 Staffline has announced its finance chief has stepped down as the recruitment firm cut its profit forecasts following a dip in consumer demand. Shares in the company plunged 33 per cent this morning as it revealed that trading performance in the fourth quarter was below the board’s expectations following a slump in demand. Read more: [...]
Wolseley appoints interim chief executive ahead of Ferguson spin off December 18, 2019 Ferguson has named Simon Oakland as interim chief executive of Wolseley to replace current boss Mark Higson, as the group continues preparations to spin off Wolseley next year. Higson is stepping down at the end of January to become chief executive of building services company Algeco, and Ferguson has begun a search for a permanent [...]
Pearson CEO to depart as it sells $675m stake in Penguin Random House December 18, 2019 Pearson’s chief executive today announced that he plans to step down in 2020, triggering a search for a successor. John Fallon said he would retire from the role as the education publishing business sold its final stake in Penguin Random House today. Read more: Pearson bags Home Office contract for English language tests He will [...]
String of London restaurants go paperless with City fintech startup Flux December 18, 2019 A number of London hot spots have taken a step towards going paperless, in a tie-up with digital receipts startup Flux. Flux has today signed partnership agreements with Japan Centre, Sakagura and Boparan Restaurant Group, which owns Giraffe, Ed’s Easy Diner and Slim Chickens. The deal means visitors who bank with Monzo or Starling, as [...]
All we want for Christmas is a pay raise — or an office cat December 18, 2019 At this time of year, many of us will have fond memories of writing festive wish lists in the fervent hope that we’d been good enough to receive a visit from the big man in red. Fast-forward a couple of decades, and while we still have wishes for the festive season, a few of these [...]