Exclusive: Utilities firms to roll out mobile payments via bank app Zapp September 4, 2013 MAJOR utilities firms will this month announce plans for consumers to pay bills using new mobile app Zapp, City A.M. understands, in a new drive to consolidate a fragmented industry. From next summer customers will receive bills with QR codes attached, which they can scan to pay the bills with the app. Zapp, set up by [...]
Bullish rights issue statement from Barclays September 4, 2013 BANKING giant Barclays published a rather bullish announcement yesterday, when it released a statement on its latest rights issue. Rather than linking to the Barclays website, all the links appearing to direct to Barclays, in fact sent readers to a site called Hereford.com, an Idaho-based company that sells bull semen. A Barclays spinner was tight-lipped [...]
Cowgate: “Bullish” announcement from Barclays September 4, 2013 The Barclays rights issue announcement is turning some heads (release). Rather than linking to the Barclays website, all links to Barclays actually direct to Hereford, a site that sells bull semen. A Barclays spinner told City A.M. "I'm absolutely not saying anything more on Cowgate". An updated release has now been issued, but the old [...]
Barclays will start £5.8bn rights issue on 13 September September 4, 2013 Bank Barclays has announced that its £5.8bn rights issue is expected to take place of 13 September (release). It is anticipated that the record time for Ordinary Shareholders' entitlement to participate in the Rights Issue shall be the close of business (London time) on 13 September 2013. As a result (and as outlined in the [...]
PPI drives bank complaints to a new record high September 3, 2013 PAYMENT protection insurance (PPI) complaints have jumped to a new record high, the Financial Ombudsman Service said yesterday. However, the tide has showed some signs of slowing, with banks like Barclays recording a fall in the number of referrals to the official agency. Total financial complaints jumped to 327,035 in the six months from January [...]
Barclays to sell retail banking arm in the UAE September 3, 2013 BARCLAYS’ review of retail operations in Dubai has found they do not generate sufficient returns to remain part of the group and so will be sold. The lender reviewed all of its business units earlier this year to see how they fit into its group, and repeated the process after the Bank of England said [...]
Any Other Business – 04/09 September 3, 2013 There was some lively banter in City spinners Maitlands’ Upper St Martin’s Lane offices yesterday, where payday loan company Wonga was presenting its results. It appears that Wonga boss Errol Damelin (pictured) has grand ambitions for his firm, and The Capitalist hears that the chief executive repeatedly compared Wonga to tech giants like Amazon, Google [...]
Vodafone to pay investors £54bn September 2, 2013 Windfall for shareholders after Verizon Wireless stake sale sealed VODAFONE will pass a massive £54bn windfall to its shareholders after agreeing a record-breaking deal with American telecoms group Verizon. The £84bn deal – the second largest in corporate history, according to Dealogic – for Vodafone’s stake in the largest US mobile network Verizon Wireless, was [...]
Barclays close to rights issue September 2, 2013 BARCLAYS in planning to get its £5.8bn rights issue away within the fortnight, City A.M. understands. The lender is issuing the new shares to improve its capital position, as it is under pressure from the Bank of England to get to a three per cent leverage ratio. The bank is believed to be targetting the [...]
City Moves for 03 September 2013 | Who’s switching jobs September 2, 2013 Quantum Advisory The actuarial and benefits consultancy has announced the appointment of Deon Dreyer as principal investment consultant. Dreyer joins from PwC, where he was an investment director in its pensions risk business. Prior to that, he was a regional head of investment consulting at Aon Hewitt. RBS Alan Ainsbury has been appointed head of [...]