University of Barclays: Lender to launch the UK’s first degree-level apprenticeship in banking later this year March 6, 2017 Barclays will launch a degree-level apprenticeship in banking later this year, the UK's first such offering. The programme will allow participants to study for a degree, or equivalent qualification, should they choose and will let them specialise in a range of areas of banking, including corporate, investment and retail. "We want people of all ages and [...]
Former national intelligence director James Clapper says no order existed to tap Trump’s phones March 5, 2017 A former US national intelligence director has slammed Donald Trump's claims the Obama administration ordered a wiretap of phones at now-President's election campaign headquarters at Trump Tower in New York. James Clapper, who stood down from his role at the end of President Obama's tenure, told NBC: "There was no such wiretap activity mounted against the President-elect at the [...]
China sets lowest growth target in more than 20 years March 5, 2017 China has reduced its growth target for 2017 to its lowest level for more than 20 years, as the country seeks to manage the decline in its potential for catch-up growth and a new relationship with the US. The communist party government of the world’s second largest economy will aim for growth of around 6.5 [...]
Starter for three: Cambridge & Counties Bank announces record growth in deposits, lending and customer acquisition March 5, 2017 Cambridge & Counties Bank today revealed it had boosted its deposits, lending and customer acquisition by record levels in 2016. The figures The challenger bank, which launched in 2012 and is jointly owned by University of Cambridge college Trinity Hall and the Cambridgeshire Local Government Pension Fund, revealed profits before tax had leapt to £18.1m for the year ending [...]
Merger between Standard Life and Aberdeen Asset Management set to create UK’s largest asset manager March 5, 2017 Standard Life and Aberdeen Asset Management are expected to announce detailed plans for their £11bn merger on Monday morning, in a move that will create the second-largest fund manager in Europe. The new £11bn company will have £660bn in combined assets under administration, making it the biggest fund manager in the UK on completion, as [...]
BAE says executive pay plans “in line with best practice” as it faces shareholder revolt March 5, 2017 BAE Systems has defended its executive pay proposals as "in line with best practice" as it faces off against less-than-impressed investors. Under the firm's suggested pay plans, Charles Woodburn, who is due to take over at the helm of the defence company from Ian King in July, could pocket multiples of his salary in bonuses and share [...]
Hello, Jan du Plessis: BT set to tap Rio Tinto boss as new chairman March 5, 2017 BT Group is expected to name Rio Tinto boss Jan du Plessis as its new chairman. Du Plessis has emerged as the frontrunner for the role, beating HSBC group chairman Douglas Flint, according to the Sunday Times. Du Plessis has also served as chairman of SAB Miller and overseen its sale to Belgian-Brazilian beer firm Anheuser-Busch [...]
Gym group David Lloyd is for sale March 5, 2017 David Lloyd owners are preparing to sell the gym chain for £1.3bn, according to The Telegraph. A sale of the gym group, which runs 83 clubs in the UK and 12 in the Netherlands, Belgium and Spain, is expected to draw considerable interest from private equity investors. However, the sale cannot proceed until a prior [...]
Volvo reverses away from Lotus car brand deal March 5, 2017 The Chinese parent company of Volvo, Geely, has reportedly done a swift three-point turn out of a deal to buy Malaysian auto maker, Proton, which owns British iconic car brand, Lotus. According to the Sunday Times, talks between Geely and Proton have stalled, leaving a question mark over the future of Lotus. Lotus has been [...]
Sir Philip Green plugs another pensions hole at Arcadia March 5, 2017 Sir Philip Green has finalised plans to tackle yet another pension scheme deficit, this time at his own retail giant Arcadia. Arcadia will double its payments to the company's pensions scheme from £25m a year to £50m, helping to cover a near £200m deficit. The agreement comes just days after the billionaire settled a dispute [...]