Aldermore becomes the latest challenger bank to shrug off Brexit with 50 per cent boost to profits August 11, 2016 Aldermore has today reported a huge boost to its bottom line, while revealing it feels it can keep on smiling throughout the Brexit uncertainty. The figures The challenger bank reported profit before tax of £59m for the first half of 2016, up 50 per cent from the prior year's £40m. Meanwhile, underlying profit before tax increased to £63m, [...]
Rise of the machines: Hastings results receive boost from telematics August 11, 2016 Hastings Group Holdings revealed its profits had grown strongly during the first half of 2016 today, no doubt helped by growth in both the home and telematics markets. The figures The insurer revealed operating profit had increased to £70.8m for the six months to June, up 20 per cent from £59.2m the year before. Meanwhile, gross written premiums rose [...]
Paysafe looks to pocket profits by bolstering its digital wallet business August 10, 2016 Payment solutions company Paysafe has revealed it hopes to rake in the cash from its digital wallet business, including launching a new mobile-enabled wallet in September. Joel Leonoff, Paysafe president and chief executive, described the product in the pipeline as being focused on generic goods, including pharmaceutical products, groceries and alcohol. "What we're building and what we're [...]
Harry Potter star fails to conjure up a win in tax case August 10, 2016 One of the stars of the Harry Potter movies has discovered magic is no match for the taxman, after losing his case at a tribunal. Rupert Grint had attempted to include two tax accounting periods in his filings for tax year 2009-10, which would have prevented a proportion of his income from being taxed at the [...]
City watchdog shuts bond manipulation investigation into Lloyds senior trader August 10, 2016 The City watchdog has today shut down an investigation into possible bond manipulation by a Lloyds Banking Group trader. In late 2015, The Financial Conduct Authority (FCA) launched an investigation into whether Tony Gray, head of gilts trading at the bank, had rigged the UK government bond market but has now decided there is no case for [...]
Prudential boss Mike Wells thinks people are still a bit confused about Asia August 10, 2016 The man at the driving seat of one of the most notable insurance giants has today said he believes many are still struggling to get their head around the Asian market. In a conference call to discuss his company's half-year results, Prudential chief executive Mike Wells pointed out there were still many misconceptions about the geographic region, [...]
Lloyds boss Antonio Horta-Osorio questioned by bank over alleged tryst trip August 10, 2016 Lloyds Banking Group's boss has faced some tricky questions from his own bank over reports he had a tryst while away on business. Antonio Horta-Osorio, who has been at the helm of the taxpayer-backed bank since 2011, is said to have met with alleged lover Dr Wendy Piatt, a former Tony Blair aide, while travelling in June to a [...]
Asia brings good fortune to Prudential, as operating profits boosted August 10, 2016 Prudential's Asian focus has helped drive new business for the financial services giant during the first half of 2016. The figures The company reported operating profits of £2.1bn, up six per cent on a constant currency basis or nine per cent on a reported basis from £1.9bn the year before. Meanwhile, operating profit from Asia [...]
Nice pay day for Paysafe as revenue more than doubles August 10, 2016 Paysafe shares opened up this morning after the company announced revenue rocketed during its first six months of 2016. The figures The payment solutions maverick revealed revenue for its first half of this year had increased to $486.7m (£373.2m), up 118 per cent compared with $223m the year before. Meanwhile, profit before tax increased to [...]
London job market flounders in July, but hope on the horizon for red tape workers August 10, 2016 London's job slowed to a snail's pace in July, new figures out today show, but one particular set of skills may find itself in hot demand in the not too distant future. Morgan McKinley's London Employment Monitor for July found available jobs had decreased by 12 per cent month on month, while the number of professionals seeking [...]
