Property fintech LendInvest sells £243m buy-to-let mortgage portfolio following financing deals May 30, 2023 London-listed property fintech LendInvest confirmed the sale of a £243m buy-to-let mortgage portfolio to digital bank Chetwood Financial. The portfolio includes mortgages originated between 1 March 2022 and 30 November 2022 during which time interest rate hikes reduced the profitability of the mortgages. LendInvest will take a £10.5m loss on the sale which will be [...]
Unilever CFO departs ahead of new CEO’s arrival May 30, 2023 Unilever has announced a shake up at the top with both its chief financial officer and chief digital and commercial officer departing their roles just weeks before new CEO Hein Schumacher takes the reins. Graeme Pitkethly, who headed the consumer goods giant’s finances, is retiring after 21 year at the business. He will retire from [...]
Former Pru CEO and board veteran Jonathan Bloomer to become chair of Hiscox May 30, 2023 Jonathan Bloomer, the current chair of Morgan Stanley International and law firm DWF, will add the top boardroom chair at Hiscox to his portfolio next month. Hiscox, the Bermuda-headquartered insurance giant, announced Bloomer’s appointment as chair designate this morning. He will replace Robert Childs, who will retire over the summer. Bloomer was a partner at [...]
Police Scotland wants to teach the Met a lesson in understanding its racist cops May 30, 2023 The outgoing boss of the Police Scotland has labelled the force ‘institutionally racist’, but the Met police won’t admit the same failing, writes Eliot Wilson
“Robust” trading for listed law firm DWF as Canada transaction set to pay off May 30, 2023 Listed legal and business services firm DWF has this morning delivered an upbeat full-year update to markets, with 8 per cent revenue growth headlining what CEO Sir Nigel Knowles described as a “robust” performance. Revenues are expected to sit around £380m on the year when the company produces its audited full-year results. DWF also said [...]
Morning in the City: Asda-EG tie up, Home REIT update, US debt ceiling talks May 30, 2023 Welcome to the live blog for Tuesday 30 May, after a nice bank holiday weekend!
Kamm 912c is a fresh twist on the Porsche restomod recipe May 30, 2023 With a 190hp flat-four engine and a kerb weight of just 750kg, the Kamm 912c is a back-to-basics Porsche that prioritises driving fun.
Are gone-off goods the answer to the cost of living crisis? May 30, 2023 An online grocery store which sells goods that would otherwise be sent to landfill is growing in popularity in the UK, as cash-strapped Brits search for new ways to save money amid the cost of living crisis. “I think there’s a lot of focus on price at the moment… and we can cater for something [...]
FTSE 350 firms could face double the cost to offset carbon by 2030 May 30, 2023 The cost of carbon offsetting could more than double for businesses by the end of the decade, according to new research. A report published by PwC found that FTSE 350 companies reported £38m in voluntary carbon offset purchases in 2022, but that this could increase by over 256 per cent to £135m within a decade. [...]
Grocery prices cool as government drafts supermarket price cap May 30, 2023 Food inflation cooled slightly in May as lower energy and commodity costs finally showed signs of filtering down to consumers. According to data by the British Retail Consortium, grocery inflation fell to 15.4 per cent in during the month, down from 15.7 per cent in April – but remained the second highest inflation rate in [...]
