Shadow business secretary slams ‘ivory tower’ financial regulators as takeover bids cripple UK stock market
LendInvest given £500m investment boost from Chetwood to fund buy-to-let mortgages July 3, 2023 LendInvest, the London-listed property fintech, has received a £500m investment boost to fund some of its future lending from Chetwood Financial. The investment will fund mortgage originations from LendInvest’s buy-to-let mortgages, aimed at professional landlords, and residential mortgages, for those underserved by high street mortgage providers. Chetwood, a Wrexham-based digital bank, has become the latest [...]
Sally Bolton interview: Wimbledon CEO on taking the Championships to the US July 2, 2023 Wimbledon CEO Sally Bolton on growing the Championships’ presence in the US, how it chooses its partners and its unique business. In SW19, there is no mistaking when the Wimbledon Championships are in full swing. Thousands of tennis fans descend on the All England Club; the air is thick with the scent of grass, Pimm’s [...]
Why It Doesn’t Pay To Be A Woman In Finance June 28, 2023 From cupcakes on International Women’s Day to marketing campaigns that shine a light on female employees making their mark, many organisations are paying lip service when it comes to addressing the gender pay gap in the UK, yet doing very little to offer real equality in the workplace. It’s even more pronounced for women working [...]
FTSE 100 close: Banks regain ground amid interest rate concerns as Vodafone slumps June 26, 2023 London’s FTSE 100 was dragged into the red today, driven by Britain’s largest banks struggling amid concerns about how much higher UK interest rates will go and Vodafone tumbling. The capital’s premier index fell 0.11 per cent to 7,453.59 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
Inside the PTO Tour: Triathletes plotting their own path, backed by a billionaire June 26, 2023 Ibiza usually moves to the beat of its clubbing crowd but for one weekend last month it was a different Lycra-clad set working up a sweat: top triathletes, including Alistair Brownlee, Lucy Charles-Barclay and Kristian Blummenfelt. In the shadow of world-famous nightclubs like Pacha, some of the sport’s biggest names took on a 100km swim-bike-run [...]
Bank shares slump: Barclays, HSBC, NatWest and Lloyds down as investors fret over loan defaults June 23, 2023 Shares in Britain’s big banks have tumbled again today as investors fret over the impact of rising interest rates and the prospect of loan defaults on the horizon.
Hunt and big banks vow to ease mortgage pain with repossessions grace period June 23, 2023 Mortgage holders will get a 12-month grace period before banks begin repossessions on their homes, Jeremy Hunt has announced, after a crunch meeting with lenders at No11. The Chancellor said ministers were “particularly worried” about people falling behind on payments or having to switch deals at the end of a fixed rate mortgage. He announced [...]
NatWest, Lloyds, HSBC, Barclays and Santander leaders meet Jeremy Hunt in ‘productive’ mortgage crisis talks June 23, 2023 Bank bosses held a “productive” meeting with Chancellor Jeremy Hunt as the rates increase worsens the mortgage crisis. Natwest chief executive Alison Rose, speaking to reporters as she left Downing Street, said lenders were “doing everything we can” and were “very keen” to help customers. Lloyds Banking Group boss Charlie Nunn described the meeting as [...]
Credit fears send bank shares lower after Bank of England lifts rates by 50bps June 22, 2023 Shares in the UK’s biggest banks today fell after the Bank of England raised interest rates by 50 basis points, heaping more pain onto borrowers. The Bank’s Monetary Policy Committee reverted to a larger rate hike after inflation remained stuck at 8.7 per cent last month. It was the 13th rate hike in a row [...]
UK banks to ramp up data sharing in dirty money crackdown June 22, 2023 British banks are gearing up to share more data with their peers on suspected serious economic crime as part of wider efforts to stem dirty money flows into the country from Russia and elsewhere, four sources with knowledge of the matter told Reuters. More than half a dozen banks are in advanced talks with British [...]