Desmond sets a deadline for Channel 5 bids February 20, 2014 RICHARD Desmond has stepped down from the board of Channel 5 Broadcasting Limited in a sign that the media boss may be preparing for a sale of the broadcaster. An information memorandum has been sent to would-be buyers and City A.M. understands that a deadline of 27 February has been set for initial offers. Last [...]
Rathbone boss leaves on a high as assets tick up February 20, 2014 WEALTH manager Rathbone Brothers ushered in a new era yesterday after long standing boss Andy Pomfret handed the reins over to the company’s new chief executive, as it reported double digit asset growth for last year. Pomfret, who has been an executive at the company for 15 years, leaves the business next Friday to be [...]
You won’t recognise your high street bank in five years’ time February 20, 2014 Small branches with more machines than staff are the future of banking for Britain’s biggest lenders, as Lloyds joins Barclays in creating a new kind of store. Lloyds is understood to be looking into opening new branches in London – a radical change from the industry trend of cutting back on expensive stores in favour [...]
Pets at Home to offer public bite at £1.5bn float February 19, 2014 PETS at Home, the UK’s biggest pet store, yesterday announced plans to offer shares to the animal-loving British public as part of its stock market debut next month. The company, which has 369 stores across the UK, said it intends to raise £275m through the initial share offering and use the proceeds to slash its [...]
App used to help buy a house as Barclays and Savills strike a deal February 19, 2014 AN APP has been used to help purchase a house for the first time, following a new partnership between Barclays and Savills Auctions. Barclays Pingit app was used by a homeowner to put a £23,000 deposit on a house in Mitcham, South London this month. The partnership will enable Savills Auctions customers to make a [...]
City Moves for 20 February 2014 | Who’s switching jobs February 19, 2014 Santander Corporate & Commercial Andrew Whelan has been appointed managing director for regional real estate finance at Santander Corporate & Commercial. He joined in 2010 from Bank of Ireland, and has previously held roles at Barclays. Aldermore Asset Finance The challenger bank has made three appointments to its asset finance team. Carey Hansford joins as a business [...]
London Report: FTSE pauses for breath as sharp rally peters out February 19, 2014 THE UK’S top shares steadied yesterday as analysts bet the strong rally that followed a slump in emerging markets has run out of steam, though Sports Direct gained on robust profits. The FTSE 100 closed up 0.28 points – flat in percentage terms – at 6,796.71 points. It hit 6,810.48, its highest since late January, [...]
Banks face mega fines as Britain imports US style corporate justice February 19, 2014 UNDER the headlines “Bank Robbery” and “Uncle Scam”, there was a stormy reaction to the largest settlement ever between the US government and a corporation – JP Morgan’s $13bn (£7.7bn) November 2013 pay-out over the mis-selling of mortgage securities. But penalties of this size may not be peculiar to the US for long. Britain’s adoption [...]
Someone in London just bought a house with an app February 19, 2014 For the first time ever customers will be able to buy houses using their smartphones, thanks to a new partnership between Barclays and Savills Auctions. Barclays Pingit app was used to make a deposit for the first time this month – by a homeowner who splashed out £23,000 on a house in Mitcham, South London. [...]
Metro Bank in running for PwC bank contract February 18, 2014 METRO Bank, RBS and Santander are understood to be among the banks bidding for PwC’s business, as the professional services firm shakes up its finance relationships. The changes come as PwC takes on HSBC as an audit client, and so can no longer bank with the firm. PwC also audits Barclays and Lloyds, narrowing the field in [...]