Former polymer banknote manufacturer manager sentenced over corruption-based charges May 12, 2016 Peter Chapman, 54, a former manager of polymer banknote manufacturer Innovia Securency PTY, was sentenced for two and a half years at a court in London today for corruption-related offences. Chapman was convicted yesterday on four counts of making corrupt payments to a foreign official, although he was acquitted on an additional two counts he had [...]
City folks these days just want to start a family May 12, 2016 Even with their sky-high rents, crowded transport networks and lack of greenery, research out today has found that many people think major cities are the perfect place to start a family. The study by the international pensions unit of Allianz discovered that the birthrate in 41 major European and US cities is seven per cent higher than [...]
Lloyds shareholders won’t do what they’re told May 12, 2016 Shareholders at Lloyds Banking Group have clearly not caught shareholder spring fever, passing all resolutions at its AGM today, despite an influential shareholder advisory group urging them vote against the remuneration report. Shareholders approved the remuneration report by 97.7 per cent, which puts chief executive Antonio Horta-Osorio in receipt of £8.8m for 2015, down from £11.5m the year [...]
Credible deterrence: What is the real cost of FCA Enforcement proceedings? May 12, 2016 The financial services industry faces ever-more intrusive regulatory scrutiny and tougher penalties. Financial Conduct Authority (FCA) fines reached £1.4bn in 2014. This compares with just over £89m in 2010 and only £7.5 million in 2002. However, fines are not the only cost of an FCA enforcement intervention – reputation damage can be far more painful. [...]
Operation Tabernula: Hind and Dodgson sentenced in insider trading case May 12, 2016 Martyn Dodgson has been sentenced to four and a half years in prison today, while Andrew Hind has been given three and a half years, for their roles in a landmark insider trading case. Accountant Hind and former Deutsche Bank director Dodgson were convicted on Monday of conspiring to insider deal between November 2006 and March [...]
All shook up: Aegon’s first quarter affected by volatile markets May 12, 2016 Aegon has had a bumpy ride during its first quarter of this year, revealing today that volatile markets had caused its net income to half. The Dutch insurer reported that its net income had dropped to €143m (£112.6m) for its first quarter of 2016, down 50 per cent from €289m the same time last year, although an improvement on the previous [...]
Safe as houses: Aldermore Group mortgage origination up 60 per cent May 12, 2016 Aldermore Group today revealed that the number of loans it had created in its first quarter of the year had leapt up, causing its share price to shortly follow suit. Loan origination for the challenger bank rose to £814m for the first quarter of 2016, up 43 per cent on the prior year's £568m. Mortgage origination was [...]
Companies have become more short-sighted in their approach to investment May 12, 2016 UK businesses' appetite for long-term investments has been curbed in relation to the economy's overall performance over the last few years, a report out today has discovered. The year-long research project by Tomorrow’s Company found that investment in fixed assets has dropped from 11 per cent of GDP in 1997 to eight per cent in 2014, and investment [...]
