Challenger banks: Hampshire Trust Bank says customer deposits are up more than 800 per cent as it posts first profit since 2014 management buyout February 14, 2016 Hampshire Trust Bank has posted its first profit since a management buyout in 2014, reporting strong growth in total assets, customer deposits and customer numbers for 2015. Hampshire Trust Bank, a specialist challenger bank focusing on small and medium-sized businesses, reported that its total assets had multiplied by more than four times during the year [...]
PPI claims: Ministry of Justice clamps down on claims management companies responsible for pesky PPI calls February 14, 2016 Ministers are cracking down on companies handling claims for payment protection insurance (PPI) refunds by capping their charges. The Ministry of Justice announced today that it would be limiting the fees charged by claims management companies (CMCs), many of which are claiming more than one-third of consumers' financial claims for themselves. "We want to do all we can [...]
Google tax: British Chambers of Commerce call for simpler business taxes as MPs grill Google executives over sweetheart tax deal February 11, 2016 A simpler business tax system would eliminate the loopholes that lead to tax avoidance schemes, the British Chambers of Commerce (BCC) said today. The BCC's comments come as MPs on the Public Accounts Committee get ready to grill Google executives and HM Revenue & Customs (HMRC) bosses over the controversial "sweetheart" deal that saw Google hand over £130m [...]
UK steel crisis: Steel industry attacks business secretary Sajid Javid, saying it was “galling” to rule out higher tariffs for Chinese steel February 10, 2016 Business secretary Sajid Javid rejected calls for higher tariffs on Chinese steel today, less than one week after signing a letter with his counterparts from France, Italy, Germany, Poland, Belgium and Luxembourg demanding that the European Commission "use every means available and take strong action" in response to "unfair trade practices". Javid told MPs on the Business, Innovation [...]
Peer-to-peer lenders hit back after City grandee Lord Adair Turner says they could lead to “big losses” February 10, 2016 Peer-to-peer lenders have rejected criticisms from former City regulator Lord Adair Turner, who warned earlier today that the peer-to-peer (P2P) lending industry could be a source of "big losses" in the years ahead. "The losses which will emerge from peer-to-peer lending over the next five to 10 years will make the bankers look like lending geniuses," Turner told BBC [...]
EU referendum: UBS says markets should get ready for a June referendum February 10, 2016 UBS is warning markets to get ready for a June referendum on Britain's membership in the European Union, telling clients in a note today that while an In/Out vote in the autumn cannot be ruled out, it is much more likely the referendum will be held in a matter of months. Economist David Tinsley and [...]
Westminster goes to war on sugary drinks tax as Tory-linked think tanks take opposing views on new levy February 10, 2016 Policy experts with strong ties to the Conservative party are at odds over proposals for a new sugary drinks tax, with one influential think tank saying today that the new levy should be introduced as part of a series of measures to curb rising levels of obesity. In a new report out today, Policy Exchange [...]
EU referendum: 30 more Conservative, Labour and Liberal Democrat MPs back the pro-EU Stronger In campaign February 10, 2016 The pro-EU Britain Stronger In Europe campaign today revealed the names of 30 more current and former Conservative, Labour and Liberal Democrat MPs and peers who have have agreed to support their campaign. They include: Conservatives Richard Benyon MP Neil Carmichael MP James Cartlidge MP Flick Drummond MP Dominic Grieve MP Kevin Hollinrake MP Ben Howlett MP former [...]
EU referendum: Top City economist Ruth Lea quits anti-EU Economists for Britain group as rows escalate among eurosceptic campaigns February 9, 2016 Leading UK economist Ruth Lea has confirmed her resignation from a eurosceptic campaign group, telling City A.M. she wanted to distance herself from feuding anti-EU campaigns. Lea, who is an independent non-executive director and economic adviser at Arbuthnot Banking Group, had chaired the Economists for Britain group – which is closely affiliated with the wider Vote Leave campaign organisation – [...]
Westminster goes to war on sugary drinks tax as Tory-linked think tanks take opposing views on new levy February 9, 2016 NULL
