MPs accuse Lloyds of treating HBOS Reading fraud victims ‘with contempt’ July 30, 2018 A group of MPs has written to Lloyds Banking Group accusing it of treating victims of a fraud carried out by members of its Reading branch “with contempt”. The chair of the all party group parliamentary group on fair business banking Kevin Hollinrake MP wrote an open letter to the bank’s chair Lord Blackwell today, [...]
British Airways warns of Heathrow flight disruption after IT chaos yesterday July 19, 2018 British Airways has warned that passengers flying from Heathrow Airport may face disruption today after an IT outage yesterday led to a slew of cancelled and delayed flights. An airline spokesperson said this morning: “An issue with a supplier IT system was resolved overnight. “We are doing everything we can to keep any knock on [...]
Ladbrokes owner GVC scores on World Cup betting splurge July 18, 2018 FTSE-100 listed gambling company GVC said today that growth had accelerated in the first half of the year, thanks in part to a successful World Cup for the business. Net gaming revenue (NGR) in the first half was up eight per cent while online NGR grew 18 per cent. The second quarter saw growth accelerate [...]
Easyjet boosts profit guidance after strong quarter July 18, 2018 Budget airline Easyjet has raised its profit guidance for the year after a strong third quarter where passenger numbers hit 24m. The airline said it expected profit before tax of between £550m and £590m for the year, having previously guided at £530m to £580m. Revenue in the quarter to 30 June increased by 14 per cent [...]
Fintech company Revolut contacted police and regulator over money laundering worries July 17, 2018 Digital banking fintech Revolut called in police and regulators in the last few months after finding suspected money laundering on its system. Revolut contacted the National Crime Agency and City watchdog the Financial Conduct Authority after finding the suspected payments. Read more: Revolut launches Connect, its open banking enterprise marketplace The digital challenger bank was [...]
Consumers rail against ‘criminal’ switching fees as watchdog floats ban July 16, 2018 The Financial Conduct Authority (FCA) said today that it would seek to reform the £500bn investment platform sector to improve competition and better protect consumers. The City watchdog published interim findings from its study of investment platforms today and proposed a “package of measures” to protect consumers which could include the banning of exit fees [...]
John Laing Infrastructure Fund shares leap on potential £1.4bn offer July 16, 2018 Shares in John Laing Infrastructure Fund (JLIF) leapt by more than 17 per cent this morning after a consortium of funds announced a possible cash offer for the business. The consortium said this morning that it is in negotiations with JLIF over a cash offer for the London-listed business that could value it at £1.4bn. [...]
Tesla boss Elon Musk could face legal action after Thai cave rescuer ‘pedo’ comments July 16, 2018 Tesla chief executive Elon Musk could face legal action after suggesting on Twitter that one of the divers in the Thai cave rescue was a paedophile. Musk, who had provided a mini-submarine to help with the rescue, attacked British diver Vern Unsworth after he described Musk’s contribution as a “PR stunt”. Musk hit back on Twitter, claiming [...]
Auction house breaks record with £10m Aston Martin sale July 14, 2018 Auction house Bonhams yesterday broke the record for the most valuable British car sold at a European auction when an Aston Martin was sold for more than £10m. The 1961 Aston Martin DB4GT Zagato fetched £10,081,500, which Bonhams said was a record. It sold in the room to a European buyer. The lot was part [...]
TSB customers hit by further mobile banking outages July 14, 2018 Customers of TSB have faced further technical problems today with the bank’s mobile banking application. The bank, which has endured a torrid time since it migrated its customer records to a new IT platform built by its Spanish parent company Sabadell. Problems with the migration led to significant issues for customers trying to access mobile [...]
