UK lenders must do more to support people in debt, ombudsman chief says September 19, 2024 The head of the UK's financial ombudsman has urged lenders to do more to help consumers struggling with debt after a surge in official complaints.
Bank of England holds interest rates but Andrew Bailey flags further cuts September 19, 2024 The Bank's decision comes after the Fed reduced interest rates by 50 basis points last night, the first cut since the pandemic.
Post-Brexit regulation caused ‘three lost years’ of infrastructure investing September 19, 2024 The outdated post-Brexit regulation around investment trust cost disclosure set the UK back by three years on infrastructure, asset manager Abrdn has revealed. Cost disclosure rules, which required investment trusts to ‘double dip’ their fee reporting, have finally been lifted by the government and the Financial Conduct Authority today, leaving the trust industry overjoyed. “What’s [...]
Revolut investor backs Gen Z credit card fintech Yonder September 19, 2024 Credit card start-up Yonder has exceeded a post-money valuation of £100m as it secured another £23.4m in its latest funding round, led by one of the early investors of fintech app Revolut. The credit card rewards firm, which is geared towards millennials and Gen Z consumers, plans to use the latest injection of funding to [...]
Investment trusts celebrate move to reform cost disclosure rules September 19, 2024 The UK has finally exempted investment trusts from complying with cost disclosure requirements that industry experts say could unlock billions in investment. In a statement today, the government and Financial Conduct Authority said regulators would temporarily withdraw the requirements, which campaigners have argued force trusts to ‘double count’ their fees. While this is also the [...]
New home approvals fall to lowest level in a decade as Labour promises planning overhaul September 19, 2024 In the year to June, approvals dropped 12 per cent to just over 230,000 units, the lowest figure for any 12-month period in the last decade.
Newriver REIT raises £50m for Capital & Regional bid September 19, 2024 Local shopping centre owner Newriver REIT has successfully raised over £50m via a share issue to fund its bid of peer Capital & Regional. On Wednesday, Newriver REIT announced a possible cash and share offer for Capital & Regional, which would create a shared property portfolio of £890m. At the same time, Newriver announced the [...]
Portmeirion Pottery sinks deeper into the red as Asian sales falter September 19, 2024 Portmeirion, the historic maker of ceramic tableware and cookware, has slipped further into the red as declining sales in Asia continue to weigh heavily on the company. The London-listed group, which is headquartered in Stoke-on-Trent, saw its revenue fall to £36.6m in the first six months of 2024, down from £44.1m year on year. As [...]
Babcock hails ‘encouraging’ trading fuelled by nuclear boost September 19, 2024 "Our expectations for the full year are unchanged and we continue to progress toward our medium-term guidance," Babcock said.
Sosandar pushes ahead with brick-and-mortar expansion as new flagship store revealed September 19, 2024 UK fashion brand Sosandar has announced its expansion into in-store retail with historic Irish department store Arnotts, in a bid the company hopes will allow it to connect better with its customers. The London-listed company, which is headquartered in Cheshire, said the decision to base its flagship store in the Dublin department store had been [...]
