Experts worry funding is not raising lending September 1, 2013 BANK lending to businesses and households edged up in July, raising hopes that the flow of credit is at last improving on the back of initiatives like the Funding for Lending Scheme (FLS). However, analysts have warned that the FLS’s impact is negligible so far. “The scheme has succeeded only in ensuring credit flows tread [...]
Poll shows payday lenders are flagging up costs to customers September 1, 2013 RESEARCH agency YouGov will publish a report today that reveals nine out of ten customers who borrow from payday lenders feel that proper affordability checks were completed on their loan. The poll also found that 92 per cent of short-term borrowers fully understood the total cost of the loan before they committed to it and [...]
Bank of England plans another round of cyber security tests September 1, 2013 THE BANK of England and Treasury are planning to run more tests of banks’ cyber security systems, it emerged over the weekend. Last year the authorities tested electronic payment interference ahead of the Olympics, and it is thought another round is planned. It comes after a clampdown on anti-money laundering controls across the industry, as [...]
Merkel defends Euro record as election nears September 1, 2013 German Chancellor Angela Merkel’s challenger in this month’s election last night accused her in a television debate of crushing southern European countries with austerity, declaring her euro crisis strategy a failure. Merkel, who is seeking a third term in the vote on 22 September, said Peer Steinbrueck had supported her euro policies in parliament.
Brit dealmaking comes to life in summer blitz September 1, 2013 SALES of British-based companies owned by UK financial sponsors have hit a five-year high after a bumper crop of summer deals, newly published figures show. The August surge in deal making, led by CVC Capital Partners’ £750m deal for insurer Domestic & General, has driven domestic UK company exit values to £2bn for the third [...]
High prices on junior stock market dampens takeover spirit September 1, 2013 TAKEOVERS of fast-growing listed firms are down a quarter since last year due to a price hike putting off potential buyers, a report out today reveals. The readings show just 49 companies listed on the Alternative Investment Market (Aim) were swooped upon in the year ending June 2013, compared to 66 for the same period [...]
Wine funding venture uncorks bond issue paid out in claret September 1, 2013 NAKED Wines, the wine funding business launched by former Virgin executive Rowan Gormley, has launched a £3m fundraising using bonds that pay interest in wine. The fine wine bonds, which have a three-year duration, will pay gross interest of 10 per cent in wine credits for customers to snap up more bottles from Naked Wines. [...]
Wagon Wheels bosses want future role September 1, 2013 BOSSES at Wagon Wheels maker Burton’s Biscuit Company have indicated they want to stay at the helm of the firm amid a £350m buyout of the biscuit maker. The private equity-backed business, which also makes Jammie Dodgers, was put up for sale last week after a review by Credit Suisse. The sale process is due [...]
Minister putting his foot down over speed rule September 1, 2013 PLANS to fit cars with devices that would force drivers to stick to the speed limit have been met with fury at the Department for Transport, a Whitehall source said yesterday. The European Commission is due to publish its findings on so-called intelligent speed adaptation in the autumn, but transport ministers in the UK are [...]
Businesses concerned by cost of coalition’s green energy policy September 1, 2013 LEADING businesses believe the government’s flagship energy policy will be a burden on industry and make it more difficult to predict costs, according to a report released today by Npower. The energy supplier found nine out of ten companies believe the £110bn Electricity Market Reform (EMR) programme – which guarantees a fixed price for green [...]
