Watchdog bans payday loan ad encouraging consumers to stockpile for Brexit March 20, 2019 An advert for payday lender Peachy has been banned for using uncertainty around Brexit to encourage consumers to stockpile food. The advert, which appeared in an email from the Manchester-based firm, stated “no one really knows what’s going on with this whole Brexit malarkey” and suggested it was a good idea to have food stockpiled [...]
BBC failings to blame for Eastenders set revamp delay, report finds March 20, 2019 The delayed and over-budget project to rebuild the Eastenders set was doomed from the start due to management failings by the BBC, a government report has found. A damning report by the Public Accounts Committee (PAC), published today, states the BBC underestimated the scale and complexity of the E20 project, which is now £27m over [...]
City Moves for 20 March – who’s switching jobs at Crowell & Moring, Delta Capita and DWF? March 20, 2019 Who’s switching jobs today? Crowell & Moring Andrew Knight is joining Crowell & Moring’s London office as a partner in its corporate and financial services practices to strengthen the firm’s ability to advise clients on debt finance and asset-based lending.His practice focuses on international financial law in the context of asset-based lending, syndications, restructurings, loan [...]
The FCA has to show it really means business March 20, 2019 THE CITY watchdog is back in the doghouse again following the collapse of mini-bonds lender London Capital & Finance (LC&F). Yesterday, Treasury Select Committee chair Nicky Morgan MP wrote to the Financial Conduct Authority (FCA) and the Treasury demanding an investigation into possible “regulatory failings” surrounding the lender’s collapse. Read more: Nicky Morgan calls for [...]
Regulators must do more to help consumers navigate markets, national audit body says March 20, 2019 Britain’s four main regulatory bodies need to do more to help consumers navigate increasingly expensive markets and get the best deals available, the National Audit Office (NAO) said today. Debt was the most common problem people sought help with across the utilities, communications and financial services sectors due to high bills and credit payments, the NAO said this [...]
Private equity firms Apax Partners and Warburg Pincus approach Inmarsat with buyout proposal March 19, 2019 British satellite company Inmarsat is in talks with private equity firms Apax Partners and Warburg Pincus over a buyout deal. The firms, which were joined by Canada Pension Plan Investment Board, have proposed to make a cash offer of $7.21 (£5.43) per Inmarsat share, the company announced today, which would value Inmarsat at about $3.3bn. [...]
Liz Truss promises focus on ‘less sexy’ transport projects in spending review March 19, 2019 Treasury minister Liz Truss has taken a thinly-veiled swipe at her cabinet colleagues as she hit out at politicians telling people what to eat and how much to exercise. In a speech setting out her priorities for a review of spending in Whitehall, Truss said the government should not be telling “capable citizens” what to [...]
WPP board ‘finally came to their senses’ over £2m bonus, says Sir Martin Sorrell March 19, 2019 Advertising veteran Sir Martin Sorrell has said the board of WPP “finally came to their senses” over his £2m bonus, which it has paid out almost a year after his abrupt exit. Speaking at Advertising Week Europe this evening Sorrell, who left the ad group amid allegations of misconduct, denied any wrongdoing as he took [...]
Shareholder advisory firm opposes Superdry co-founder’s bid to return to board March 19, 2019 Influential shareholder advisory firm ISS has recommended Superdry investors vote against co-founder and former chief executive Julian Dunkerton’s reinstatement to the board. ISS also urged shareholders to oppose the appointment of Dunkerton’s ally and Boohoo chairman Peter Williams to the board at a meeting on 2 April. Read more: Superdry ‘supercharged’: Founder unveils bid for [...]
CYBG raises business banking fees to ‘stay competitive’ just weeks after RBS competition fund snub March 19, 2019 Clydesdale and Yorkshire bank owner CYBG has increased its business banking fees to remain “competitive” just weeks after missing out on a share of a £425m RBS competition fund. CYBG was snubbed in favour of three challenger banks, Metro, Starling and ClearBank last month despite investing heavily in its bid. Read more: Three challenger banks [...]