Handelsbanken chief exec Frank Vang-Jensen handed marching orders August 16, 2016 Handelsbanken announced today it was waving goodbye to group chief executive and president Frank Vang-Jensen. Vang-Jensen is being replaced immediately by Anders Bouvin, who was the bank's UK chief up until today. Meanwhile, Andrew Copsey is replacing Bouvin as acting chief executive of Handelsbanken UK. The Swedish bank revealed the board had reached a unanimous decision to give Vang-Jensen, who was [...]
Cairn Energy strikes it lucky with “world-class” Senegal discovery August 16, 2016 Cairn Energy revealed today its Senegal activity had come up trumps, while it had also narrowed its losses during its first half of 2016. The figures The Edinburgh-based oil and gas exploration company revealed a total loss after tax for the six months to June of $38m (£29.4m), an improvement from a $230m loss for the [...]
Sharp downturn would spell trouble for nearly one million renters in London August 16, 2016 There's no housing safety net to catch almost one million renters in London should the economy turn sour, a report out today warns. Analysis by Royal London of government’s family resources survey data for 2013-14 – the most recent full set of figures the researchers had available to them – showed 5.5m working adults across [...]
Ex-Barclays trio in bid to appeal their Libor convictions August 15, 2016 Former Barclays bankers Jonathan Mathew, Alex Pabon and Jay Merchant have applied to appeal their convictions for Libor-rigging offences, which were handed down last month. City A.M. can reveal that applications have been lodged on behalf of the three men, who were found guilty of one charge each of conspiracy to defraud on grounds they conspired to [...]
HM Revenue & Customs (HMRC) scraps quarterly updates for 1.3m small businesses, and takes next step in plans to make tax digital August 15, 2016 The taxman has this morning confirmed it is no longer planning to have the smallest businesses report back quarterly on their tax affairs. HM Revenue & Customs (HMRC) announced 1.3m unincorporated businesses and landlords with turnover less than £10,000 would be able to use the digital services it’s currently rolling out without having to either [...]
Saving no longer as easy as 1, 2, 3: Santander chops interest rate on top account – and now Lloyds is considering a rate change too August 15, 2016 Santander has today confirmed it is slashing interest rates on its popular 1,2,3 account to 1.5 per cent, while Lloyds has revealed it is mulling its options. Santander's change in rate will be effective from 1 November, and it is also making some changes to the overdraft rates. In a statement issued this morning, the bank [...]
The “Berlin Wall” of insurance is about to be torn down August 11, 2016 One of the biggest shakeups to the insurance sector in recent memory comes into force tomorrow. The Insurance Act 2015 was granted Royal Assent 18 months ago. However, the bulk of its provisions, including creating a new duty for those insured to make a "fair presentation" of their risk and changing the way warranties are treated, come [...]
This insurer is calling the shots in the war for tech talent August 11, 2016 Finding appropriately skilled staff for technology projects is a problem which plagues many businesses, but one insurance company has told City A.M. it seems to have it sussed. Gary Hoffman, chief executive officer of Hastings Group Holdings, revealed the company was increasingly looking beyond other insurance firms to sniff out the best talent and turning to tech giants, such [...]
