Bank bosses set for Downing Street summit amid windfall tax fears September 8, 2024 The bank CEOs are likely to be just as nervous about the prospect of any windfall taxes which could be announced in October's Budget.
The Bank of London reveals £42m fundraise days after winding-up order from HMRC September 8, 2024 Fintech ‘unicorn’ the Bank of London has announced a £42m injection of funding today after a tumultuous week in which it was hit with a winding-up order and revealed its chief executive was stepping down. In a statement, the specialist clearing bank, one of only two to be created in the UK in the past [...]
The Bank of London Group handed HMRC winding-up order after chief steps down September 7, 2024 The Bank of London Group, a fintech unicorn boasting Peter Mandelson on its board, was handed a winding-up petition by the UK's tax authority just two days after saying its founder would step down as chief executive, City A.M. can reveal.
Nationwide to complete £2.9bn takeover of Virgin Money after FCA and PRA approval September 6, 2024 Nationwide is to complete its £2.9bn takeover of rival Virgin Money next month after the deal was given the green light by the UK’s financial regulators. The banks said in statement issued to the London Stock Exchange that the Financial Conduct Authority (FCA) and the Bank of England’s Prudential Regulation Authority (PRA) have both approved [...]
Almost 90 per cent of investment trusts are on a discount. When will it change? September 5, 2024 A significant 88 per cent of all investment trusts are now trading on a discount to their underlying assets, City A.M. can reveal. The gap between the share price of investment trusts and the price of their underlying assets has got so bad that 30 per cent of all trusts now trade on a discount [...]
Construction sector ‘turns a corner’ as housebuilding jumps September 5, 2024 Tim Moore, economics director at S&P Global Market Intelligence, said the recovery in housebuilding was the "most notable development" in August.
Bank of England should take ‘measured approach’ to interest rate cuts after balanced survey September 5, 2024 The Bank of England’s survey covers prices charged across the whole economy, not just in consumer-facing firms.
Services firms benefit from post-election stability and rosy economic outlook September 4, 2024 The survey put activity in the services sector at its fastest pace since April, extending the current period of growth to ten months.
BBVA secures UK approval to acquire TSB Bank in hostile takeover bid September 3, 2024 The UK's main banking regulator has given BBVA permission to take indirect control of TSB Bank, as the lender's Spanish parent Sabadell fends off its hostile takeover attempt.
UK’s banking regulator ‘extremely mindful’ of US on capital rules overhaul September 3, 2024 The UK’s banking regulator is “extremely mindful” of pushing ahead with a sweeping set of capital rule changes while the US’s reform package remains up in the air, its chief executive has said. Sam Woods, the deputy governor of the Bank of England and boss of the Prudential Regulation Authority, told the Following the Rules [...]