Metro Bank raises £375m of capital three hours after launching share placing May 16, 2019 Metro Bank raised £375m of capital just hours after launching a discounted funding round this evening. A spokeswoman confirmed that the embattled challenger bank, which has struggled after a major loans blunder in January, closed the share placing less than three hours after announcing the funding round. Read more: Metro Bank launches £350m share placing [...]
Nationwide scoops £50m prize for small business lending May 14, 2019 Nationwide has won the latest round of funding from a high-profile grant designed to boost small business lending in the UK, pocketing the top £50m prize. Read more: Nationwide invests in ex-Barclays CEO's firm to boost business banking Investec and the Co-operative Bank were also named as winners, taking home £15m each. The awards, handed [...]
Metro Bank denies rumours of financial trouble ahead of fundraising May 12, 2019 Under-fire high street lender Metro Bank sought to quash fresh rumours of financial trouble this evening ahead of a crucial City fundraising effort expected to take place in the coming days. The challenger bank insisted today there was no truth to speculation on social media and messaging apps about instability at the firm, as it sought [...]
Metro Bank prepares for £350m placing next week May 11, 2019 Metro Bank will next week announce a new £350m fundraising which it hopes will end weeks of pressure over the state of its finances. The bank has started formal talks with institutional investors, one city source told Sky News. Read more: Major investor cuts Metro Bank stake by almost a third It is said to [...]
US investment firm Fidelity cuts Metro Bank stake by almost a third May 10, 2019 One of Metro Bank's biggest investors has cut its shares in the lender by just under a third ahead of a £350m rights issue. Read more: Metro Bank shares plunge to all-time lows as hedge funds circle Fidelity Management and Research (FMR) held a 7.55 per cent stake in the challenger bank, but has cut that [...]
Metro Bank shares suffer meltdown after profits halved and customers leave in aftermath of £900m loans error May 2, 2019 Metro Bank shares staggered to a record low this morning after it revealed profits halved in the aftermath of its £900m loans error. Read more: Metro Bank profits halve in aftermath of £900m loans blunder The challenger bank’s share price lost 19 per cent of its value after the market opened following last night’s revelation, [...]
Metro Bank CEO’s pay almost halved after waiving bonus in aftermath of loans blunder April 24, 2019 Metro Bank boss Craig Donaldson saw his pay almost halved last year after waiving his bonus in the wake of a major loans blunder. Read more: Public sentiment towards Metro Bank plunges after accounting error Donaldson was paid £800,000 last year, down from £1.5m in 2017 following the loans error, which is being investigated by [...]
Best 25 stocks in the last tax year April 15, 2019 | City Talk By Graeme Evans from interactive investor. The FTSE 100 outperformed mid-caps last tax year, but the top FTSE 350 performers might surprise you. Take a look at the financial year ended on the 5th April, with the 25 top performing stocks in the FTSE 350 all producing gains of 40 per cent or more over the [...]
Editor’s Notes: Let’s hear it from the New Democrats and Reagan Republicans March 1, 2019 Back in 2015, I was convinced the UK was heading for another hung parliament. The following year I expected a comfortable Remain victory in the EU referendum. A few months later, turning to the US, I was certain that Hillary Clinton would trounce Donald Trump at the ballot box. Then, just to compound things, I [...]
Metro Bank investors mull legal action over accounting error February 10, 2019 Metro Bank is facing a potential looming court action after an accounting error that was detected by the Bank of England caused its shares to plummet. The Sunday Telegraph reported that commercial litigation specialists Stewarts Law had been approached by a number of investors to look into the matter. Stewarts Law partner Clive Zeitman told the newspaper: [...]