Optimal Payments aims for the main market after Skrill buyout March 23, 2015 OPTIMAL Payments looks set to make a leap on to the FTSE 250 after it announced plans for a €1.1bn (£804m) reverse takeover of rival firm Skrill. Shares in the firm soared 24.66 per cent after it announced it would take over one of Europe’s leading digital payments firm. The acquisition will give the enlarged [...]
Banks fear fast payments could worsen runs March 23, 2015 ONLINE accounts and instant payments could exacerbate future bank runs, the industry warned today, urging regulators to look into the possibility. Technological advances have improved life for customers and boosted competition in banking, but the British Bankers’ Association (BBA) said it could also create risks. “We all remember the queues outside Northern Rock as people [...]
RBS cuts stake in US with $3bn Citizens sale March 23, 2015 RBS WILL cut its stake in US bank Citizens to below half this week, as it yesterday announced plans to sell off more shares in the lender. The bailed-out British bank is cutting down its overseas presence to focus on the UK market. It floated Citizens on the New York Stock Exchange six months ago, [...]
Tesco’s Patrick Cescau is latest to quit in boardroom shake-up March 23, 2015 PATRICK Cescau, Tesco’s senior non-executive director who led the search for the supermarket’s new chairman, will become the latest to leave next month in an ongoing shake-up of its board and management team. Cescau, who was at one point seen as a candidate for the chairman role himself, helped recruit Barratt boss John Allan to [...]
Volution Group looks to the future as profits rebound after IPO March 23, 2015 Ventilation specialist Volution Group has seen a remarkable turnaround in fortunes since its float, according to results released yesterday. The British company listed in June last year after previously being owned by a private equity group and reported a first half pre-tax loss in 2014 of £8m. But since its float the company has [...]
YouGov revenues rise as General Election enters knife-edge finale March 23, 2015 UK polling firm YouGov saw revenues rise 11 per cent in the six months to 31 January as the country gears up for the General Election. But despite the UK’s ongoing state of political fervour, the standout territory for earnings was the US, where YouGov counts Coca-Cola, Facebook and Google among its client base. YouGov [...]
City watchdog tells pensioners to watch out for investment scams March 23, 2015 Retirees are being warned to watch out for scammers ahead of the liberalisation of pension rules next month, as the Financial Conduct Authority (FCA) said fraudsters will try to make the most out of the new regime. Previously savers had to invest their pension pots in annuities, paying a guaranteed income each year for the [...]
Loyd Grossman shows his green credentials March 23, 2015 PROVING he’s passionate about more than just sauces and peeking through keyholes of the rich and famous, Loyd Grossman last night hosted the City of London Corporation’s 2015 Sustainable City Awards at Mansion House. The 14th annual “Green Oscars” highlighted the importance of sustainable investment in the fortunes of UK cities. And although the award [...]
City A.M. launches power list for London FinTech March 23, 2015 It has created billion-dollar startups, attracted record investment and is keeping major banks on their toes – London FinTech is having a moment and there are some major influencers making that happen. To keep you up to date with who’s who in the world of London FinTech, City A.M. has launched its own power list, [...]
Afren forced to notify SFO over expenses woes March 23, 2015 TROUBLED oil firm Afren has been forced to notify the Serious Fraud Office (SFO) of concerns around the hiring of an individual within the company in 2012 and the payment of certain travel and accommodation expenses. The firm said it had also notified the bondholders’ committee, which is in the process of granting the company [...]
