Virgin Money restructuring plans push shares down 7 per cent November 4, 2021 Shares in Virgin Money have fallen 7.3 per cent this afternoon after the digital bank revised its strategy to include an expensive cost-cutting exercise. In an unscheduled trading update the lender unveiled plans to “accelerate” its switch to digital banking services, but warned of the cost-cutting exercise this would incur over the next three years [...]
Dancing on the Ceiling: Lionel Richie sells entire catalogue to Universal Music November 4, 2021 Iconic Grammy award-winning recording artist and songwriter Lionel Ritchie has signed a new global publishing deal with Universal Music Publishing Group.
Tory MP Owen Paterson quits after sleaze scandal November 4, 2021 Owen Paterson will resign as Conservative MP for North Shropshire, after being engulfed in a scandal over his breach of parliament’s lobbying rules. A vote to veto Paterson’s proposed suspension and dismantle the standards process for MPs was rammed through parliament by Tory backbenchers and the government yesterday in a move described as “corrupt” by [...]
CNG Energy collapses leaving 41,000 business customers in the lurch November 4, 2021 CNG Energy has ceased trading amid soaring wholesale energy costs. The North Yorkshire based firm is the 19th to cease trading since September. The collapse of the struggling energy firm has left 41,000 business customers in need of rescue from Ofgem. The market regulator has confirmed customers’ energy supplies will continue as they look to [...]
David Frost ‘sets out concerns’ in crunch talks over post-Brexit fishing row with France November 4, 2021 UK Brexit minister Lord David Frost has today outlined the UK’s “position and concerns” over the post-Brexit fishing row with France in a crunch meeting with a senior French minister today. A Number 10 press release said Frost and European minister Clément Beaune met in Paris this morning where they “discussed the range of difficulties [...]
Antonio Horta-Osorio gives Credit Suisse prime broking the chop after $5bn losses November 4, 2021 Horta-Osorio, who joined Credit Suisse from Lloyds in April, has revealed sweeping plans to restructure the beleaguered lender and dramatically pare back its investment bank activities after it suffered multibillion losses this year. Under the new strategy announced today, Credit Suisse will rein in its investment bank and focus on its wealth management division, in [...]
Metro Bank shares surge on Carlyle Group takeover approach November 4, 2021 Shares in high street lender Metro Bank jumped 35 per cent today after it confirmed it was in talks with funds linked to the Carlyle Group regarding a takeover. Shares are currently up 35 per cent at 139p per share. It added in a statement there was no certainty an offer would be made and [...]
A happier theme for Christmas 2021 with the release of TK Maxx and Joules’ ads November 4, 2021 The emerging theme for this year's Christmas is a resounding 'better than last year' sentiment, with John Lewis and M&S dropping their heartfelt ads yesterday.
Property developers shares lift after rates held November 4, 2021 Property firms and house builders’ shares have surged following the Bank of England announcing it will hold rates at the same level. The country’s largest commercial property development company Land Sec has seen shares lift by just under four per cent, following the news. What’s more, developer British Land saw shares rise by more than [...]
Fulham Shore shares rise as pizza chain plots Greek expansion November 4, 2021 Franco Manca’s owner saw shares jump after it declared the pizza chain was eying Greece in its expansion plans. Fulham Shore’s share price shot up more than seven per cent on Thursday morning, following an update from the group. Franco Manca will launch in Greece with a local franchisee planning to open at least six [...]
