New UK finance watchdogs hike costs and fines March 24, 2014 A MAJOR audit of the country’s two new financial regulators shows that they have cost over £100m more than their predecessor, but are also bringing in far more money from fines. The National Audit Office (NAO) today releases its analysis of the Financial Conduct Authority (FCA) and the Bank of England’s prudential regulation authority (PRA), [...]
Government rejects TV advert ban for payday loan companies March 24, 2014 PAYDAY lenders will not be banned from daytime and childrens’ television adverts, the government said yesterday. But they will have to include details of debt advice services, and warn customers of the consequences of failing to pay back loans, in the same way as alcohol adverts and tobacco packaging. The Financial Conduct Authority (FCA) also [...]
FTSE 100 down after reshuffle March 24, 2014 STOCKS joining the FTSE 100 index had a weak first day yesterday, joining as the market fell. Barratt Developments’ stock price dropped 2.4 per cent on its first day in the top index, while finance group St James’s Place dipped 1.52 per cent. Meanwhile FTSE 100 leaver Amec, the oil and gas firm, fell 0.91 [...]
Siemens puts £160m in Hull March 24, 2014 SIEMENS is investing £160m in wind turbine and installation facilities in Hull, the company announced today. The joint project will also see Associated British Ports invest £150m in the schemes, which will hire 1,000 workers. The investment runs across two sites – the Green Port Hull project construction, assembly and service facility, as well as [...]
Banner Homes snapped up by Cala for £200m March 24, 2014 CALA Homes has made a further push into the more affluent south of England after buying luxury housebuilder Banner Homes yesterday for around £200m. The Edinburgh-based housebuilder, which develops upmarket properties in Scotland and in the Midlands has been looking to grow its presence in the south on the back of rising demand and said [...]
Only one in 20 buyers not fixing mortgages as rates start to rise March 24, 2014 MORE than 95 per cent of new home buyers are taking fixed mortgages, as the property market surges and interest rates begin to creep upwards, according to mortgage lenders. The Mortgage Advice Bureau (MAB) says that 19 in every 20 people were choosing fixed rather than variable rate mortgages in February, up from fewer than four [...]
Move over M&S, our City leading ladies are here March 24, 2014 THE LATEST M&S gaggle of leading ladies was revealed yesterday. Wearing the embattled chain’s wares this time round are actress Emma Thompson, singers Rita Ora and Annie Lennox, model Alek Wek, campaigner Doreen Lawrence, east London fashion powerhouse Lulu Kennedy and engineer Roma Agrawal. It’s not just a line-up of inspiring women, it’s an M&S line-up [...]
Humble Grape boldly storms Seedrs’ crowdfunding charts March 24, 2014 A WINE company set up by a former Icap employee is currently making waves on equity crowdfunding site Seedrs. Founder James Dawson wants Humble Grape to open its first wine bar in Shoreditch, and its campaign is the “biggest mover” on the Seedrs site this week, having raised 66.2 per cent of its £250,000 target, [...]
Albemarle stock is suspended as lenders pull out March 24, 2014 TROUBLED pawnbroker Albemarle & Bond yesterday suspended its shares from trading on London’s Alternative Investment Market after lenders said they would no longer support the firm’s turnaround plan. Albemarle shareholders could face losing their money while the firm’s 1,000 staff could lose their jobs. “These remaining options open to the company, which could include the [...]
BlackRock gives new market darling Boohoo.com its vote of confidence March 24, 2014 THE WORLD’S largest money manager BlackRock yesterday joined hedge fund guru Crispin Odey in revealing itself as a major shareholder in online fashion retailer Boohoo. The US money manager, which was founded by chief executive Larry Fink, has taken 56m shares in the company, worth around five per cent of the business. It is a [...]
