Npower could be sold off by parent company German utility RWE November 21, 2015 German utility company RWE could sell off Npower if it can't find a way to turn the struggling business around. Bernhard Guenther, RWE's chief financial officer, told Reuters during an interview that it will take at least until 2017 to return the British energy firm to profit, and investors are questioning whether it's worth holding onto. "We're not [...]
Despite emerging market turbulence UK assets under management are set to reach a record £7.4 trillion in 2015 November 19, 2015 UK assets under management are set to reach a record £7.44 trillion by the end of 2015, well above the pre-recession peak. Funds managed in the UK are predicted to increase by nine per cent this year, the seventh successive year of growth, according to data from TheCityUK, which represents a slight slow-down from the [...]
Financial Conduct Authority launches probe into competition among asset managers November 18, 2015 The Financial Conduct Authority (FCA) has launched an investigation into competition among asset managers, it said today. The study will look into value for money among both institutional and retail asset managers, as well as looking at whether asset managers can control costs "along the value chain", and whether investment consultants have an effect on [...]
Ofcom: BT charging £1.7m EE bill to Openreach “inappropriate” November 17, 2015 BT has been slammed by Ofcom for trying to let its Openreach division foot part of the bill for its acquisition of rival EE, as the deadline draws near for the telco watchdog’s probe into the UK broadband market. Openreach, which controls the country’s broadband network, has been charged £1.7m for BT’s takeover of EE, [...]
EE boss Olaf Swantee: Hacking activity has increased since TalkTalk attack came to light November 12, 2015 It's not just ironing out the details of the coming takeover from British telecom giant BT, scheduled for March next year, that’s keeping EE chief executive Olaf Swantee busy. The mobile operator EE, – created in a 50:50 joint venture between Deutsche Telekom and Orange SA in 2010 – has had to fend off an increased [...]
Challenger bank Aldermore looking as safe as houses in third quarter results, as residential mortgages push up lending, but share price drops November 12, 2015 Aldermore has today reported loan growth of about £1bn over the last nine months, bringing total net loans to customers to £5.8bn, an increase of 20 per cent from the end of December. In its third-quarter results for 2015, the challenger bank, which was set up by former Barclays executive Phillip Monks, said it was on [...]
Cyber attacks rise for EE following TalkTalk hack November 12, 2015 Mobile operator EE has had to fend off an increased number of cyber attacks since TalkTalk revealed it had 15,000 customers financial details stolen. EE chief executive Olaf Swantee told City A.M.: Since the TalkTalk breach we have seen heightened activity from criminals and people who want to access our system. “We have successfully prevented [...]
India isn’t the new China – but Indian Prime Minister Narendra Modi’s UK visit is worth exploiting November 11, 2015 In 2010, David Cameron chose Bangalore for one of his first transcontinental visits as Prime Minister, promising that taking the economic relationship between India and Britain “to the next level” was a political priority. Since then, bilateral trade, investment and banking have shrunk relative to the size of the two countries’ economies. Both nations have [...]
SSE pre-tax profits jumps but outlook “challenging” amid UK energy policy and low commodity prices November 11, 2015 The figures: SSE's adjusted profit before tax rose by 48.2 per cent to £548.8m for the six months ending 30 September. The UK's second-biggest energy supplier's total operating profit jumped 32.5 per cent to £701.9m from £529.8m during the same period a year earlier. The increase was driven by its wholesale business segment, where operating profit rose almost six-fold to [...]
Sunday trading: Liberalising retail laws is a win-win for staff, shoppers and business November 11, 2015 Yesterday saw – amidst what is best described as confusion – the Government enact a classic reverse ferret on plans to devolve the regulation of Sunday trading hours to Local Authorities, after members of the SNP joined Labour and some Tory dissenters in registering their opposition to the plans. It is deeply disappointing. It is, [...]