Azerbaijani woman who spent £16m in Harrods has reportedly been arrested and faces extradition November 6, 2018 The wife of an Azeri banker who spent £16m in Harrods and was the subject of the UK’s first unexplained wealth order (UWO) has reportedly been arrested, pending extradition. Zamira Hajiyeva, 55, was exposed as the subject of a UWO which forced her to reveal how she was able to afford two UK properties worth a [...]
Top HSBC executive probed by Financial Conduct Authority November 6, 2018 A top executive at HSBC is being probed by city regulator the Financial Conduct Authority (FCA). Sky News reports that Paul Watson, whose online profile lists him as head of regulatory compliance for the global banking and markets division of HSBC, is being investigated by the regulator. The inquiry, which is thought to have started [...]
Imperial Brands boosts revenue as it tries to move into the vaping sector November 6, 2018 Tobacco giant Imperial Brands reported better-than-expected revenue and profit in its preliminary results today as it announced plans to invest heavily in vaping. The company also boosted its dividend by 10 per cent to take its full-year dividend to 187.79p, equivalent to a seven per cent yield on the current share price. Revenue grew 0.9 [...]
Gross written premiums fall at Direct Line but the insurer says it is on track to hit targets November 6, 2018 The UK’s largest motor insurer Direct Line said today its gross written premiums fell 5.8 per cent in the last quarter, as weather related claims and intense competition took their toll. In the three months to 30 September the insurer recorded £854.5m in gross written premiums, compared to £907.2m in the same period last year. [...]
Electric scooter company Bird launches trial at the Olympic Park in a bid to change regulations November 6, 2018 US electric scooter sharing company Bird has launched a trial of its service today at the Olympic Park in east London. The use of electric scooters has boomed in the US and has begun to take off in Europe with cities such as Paris allowing their introduction. However, they are currently not legally allowed to [...]
German budget supermarket chain Lidl boosts wages for UK employees November 6, 2018 German budget supermarket Lidl will boost wages for thousands of its workers in the UK, it said yesterday. Lidl said entry-level wages will increase from £8.75 an hour to £9 an hour outside of London and from £10.20 to £10.55 an hour within the capital. The increase will come into effect from 1 March next year, [...]
Lloyds Banking Group set to create 8,000 new UK jobs November 5, 2018 Lloyds Banking Group is reportedly set to announce plans tomorrow to create 8,000 jobs in the UK as part of a £3bn technology and transformation investment programme. The bank will also announce that it is cutting 6,000 roles, leading to a net jobs creation figure of 2,000. Sky News reports the reorganisation is part of [...]
Putin critic Bill Browder slams ‘prostitution’ of UK firms working for Russian regime November 5, 2018 UK hedge fund boss and prominent critic of the Russian government Bill Browder today slammed UK firms that work for the Russian regime and its cronies. Speaking to City A.M. Browder said: “The most significant issue on Russian intelligence is not the official spies or even unofficial informants, but the British enablers to this process. [...]
The Co-op could offload its insurance arm in a £300m deal November 5, 2018 The Co-op Group is reportedly in talks to sell its insurance business to underwriter Markerstudy Group in what would be a £300m deal. According to Sky News the talks between the two companies are at an advanced stage, though no decision has been taken be either side on whether to proceed with the deal. Sky [...]
RPC extends deadline again for private equity suitors November 5, 2018 FTSE 250 packaging company RPC today said it had asked regulators to extend the deadline for two potential private equity bidders to make a firm offer for the company. Plastics maker RPC had previously announced that it was in discussions with private equity firms Apollo Global Management and Bain Capital. Under takeover rules the pair [...]
