Royal London chief executive to step down by the end of 2019 December 11, 2018 Life insurer Royal London’s chief executive Phil Loney is set to step down by the end of 2019, the company said today. Loney is standing down to concentrate on charity work in the international development sector and helping people with learning difficulties. He joined the insurance and pensions mutual in 2011 during which time it [...]
How the UK can work with Japan to make the world a safer and more stable place December 4, 2018 The language of diplomacy can sometimes be very general. Diplomats and politicians invoke the idea of “partnerships” and “strong bilateral relations” without making clear to their citizens why they matter or what the benefits might be. Talk about trading opportunities gives a sense of something practical emerging from these sorts of relationship, but trade and investment is just [...]
Nationwide profits fall as technology investment cuts into bottom line November 22, 2018 Profits fell by a fifth at Nationwide in its half-year results today, with the building society’s technology investment weighing down earnings. The figures Profit before tax tumbled 17.8 per cent to £516m for the six months to the end of September, compared to the same period in 2017, as it took a £135m charge for asset [...]
UK house price growth slumps to five-year low in October November 1, 2018 House prices grew at their slowest annual rate for five years in October, Nationwide data revealed today. House price growth slumped to 1.6 per cent last month, with prices flat month on month as the latest figures paint a miserable picture for housing activity across the UK. October’s 1.6 per cent growth rate fell from [...]
TSB’s prolonged IT crisis cost it 16,600 customers October 24, 2018 TSB lost more than 16,600 customers to rivals between April and June, after an IT fiasco prevented up to 1.9m people from accessing their bank accounts. The crisis led to TSB announcing a pre-tax loss of £107.4m during its half-year results in July, down from £108.3m profit in the same period last year. Read more: Investigation [...]
Growing the UK games industry’s success shouldn’t be taxing October 18, 2018 The video games industry is one of the UK’s great success stories. Last week’s report by the British Film Institute (BFI) showed that the sector is thriving, describing it as a “significant entertainment industry”, which has produced a “wide array of globally successful and culturally impactful entertainment products”. At The Independent Games Developers' Association (TIGA), [...]
Token Intelligence: When the revolution begins October 9, 2018 When will it kickoff? It already has! (You just cannot see it yet). Perhaps the most enjoyable part of my role these days is that I get to meet some of the brightest minds in business, not least via ICOrad.io interviews, but also strategy sessions – this last week with a sector leading CEO who [...]
Boss of £775m Royal Bank of Scotland competition payout confirms Santander UK is in running September 27, 2018 The head of a scheme to pay out £775m from Royal Bank of Scotland (RBS) to boost banking sector competition today confirmed that Santander UK and other large lenders are in the running for multi-million-pound award, in spite of criticisms from rival banks. The scheme, designed by the Treasury but run independently by Banking [...]
Nationwide vows to keep branches open as it spends £1.3bn on digital growth September 15, 2018 Nationwide has vowed not to be the second bank to fall victim to an IT disaster this year as it unveiled a £1.3bn technology upgrade today. Chief executive Joe Garner said there would not be one “big bang” change as it moves to a new digital platform, adding that the investment won’t come at the [...]
As building societies pile on the pressure, Andrew Tyrie warns George Osborne against new bank surcharge August 19, 2015 The chairman of an influential parliamentary committee has urged chancellor George Osborne to make sure that a new tax on banks does not reduce competition in the market. Read more: Osborne facing pressure from building societies over "perverse" bank surcharge Andrew Tyrie, who chairs the Treasury Select Committee, said today that there was a danger of "unintended consequences" [...]