Number of million-pound house sales on the rise November 5, 2016 The number of homes sold for £1m or more has jumped by 12 per cent this year – and nearly two thirds of them are bough in London. According to a report from Lloyds Bank, the sales of homes above £1m increased from 5,946 in the first half of 2015 to 6,684 during the first [...]
City Moves for 4 November 2016 | Who’s switching jobs November 4, 2016 Hastings Group Hastings Group has appointed Teresa Robson-Capps and Alison Burns as non-executive directors with immediate effect. Teresa is currently a non-executive director and member of the audit committee for Clydesdale and Yorkshire Bank Group and is chairman of the ACS Group. She was previously a non-executive director for National Australia Bank; Europe/Clydesdale Bank. Teresa brings significant [...]
Hurricane Matthew impact “less than it might have been” for Lloyd’s insurer Lancashire November 3, 2016 Hurricane insurer Lancashire's share price spiralled up over eight per cent today after blowing away analysts with its third quarter results. Announcing a $150m (£121m) special dividend, the Lloyd's insurer said that the impact of Hurricane Matthew – the worst in the Atlantic for nine years – wasn't quite as bad as it had expected. "As an [...]
Treasury launches new scheme to help small businesses secure financing November 1, 2016 A new government scheme to help small businesses turned down for loans find alternative means of finance launches today. Under the Treasury's bank referral scheme, RBS, Lloyds, HSBC, Barclays, Santander, Clydesdale and Yorkshire Bank, Bank of Ireland, Danske Bank and First Trust Bank will be obliged to offer to pass on details of businesses they are declining [...]
No Brexit blues for upbeat housebuilders, despite concerns around skills shortages and costs of materials October 31, 2016 Housebuilders are refusing to be knocked back by any Brexit blues, as the industry remains optimistic on what the future holds, research out today has found. Lloyds Bank Commercial Banking found average five-year investment plans had increased by around 17 per cent over the last year, despite over a third (36 per cent) in the sector confessing [...]
It ain’t IPO-ver till the fat man sings: Companies prepare to brave London’s stormy flotation market October 30, 2016 A medical equipment maker, price comparison website and a kitchen products business are preparing to brave London’s flotation market this week amid stormy conditions. Despite numerous initial public offering (IPO) plans being pulled this month, Convatec is due to list on the London Stock Exchange (LSE) at 8am on Monday. It will mark the UK’s biggest float [...]
The City of London’s newest skyscraper has just confirmed its first commercial tenant October 28, 2016 Times, they are a-changing: once, the Lloyd's Building was the City's tallest (and most recognisable) tower – now the Square Mile's skyline is rising faster than Donald Trump's legal bill. The latest addition to the City's skyscraper family is the Scalpel, aka 52 Lime Street. Although it isn't due to be completed until December next [...]
UK banks get ready to report third quarter results, with forecasts of non-core dragging on profits at Barclays and pension problems predicted at Lloyds October 23, 2016 All eyes will be on the banking sector this week, as big players get set to reveal their third quarter results. Lloyds will be reporting on Wednesday, followed by Barclays on Thursday and Royal Bank of Scotland on Friday. Analysts have predicted Barclays will announce profits before tax for the group of £1.3bn, compared with [...]
Top industry representative warns banks could start leaving London before Christmas October 23, 2016 London's biggest banks could start leaving the capital within the next few months, according to one of the Square Mile's most important figures. Anthony Browne, head of the British Bankers' Association (BBA), which represents the interests of UK-based lenders and investment banks, told The Guardian banks have already started contingency planning and the process of moving [...]
City Moves for 17 October 2016 | Who’s switching jobs October 17, 2016 Yorkshire Building Society Yorkshire Building Society has appointed Mike Regnier as chief executive. Mike, who joined the Society in 2014, is currently chief customer officer and executive director. Mike, who has 20 years’ corporate experience in consulting and retail financial services, was formerly products and marketing director at Lloyds Banking Group, where he was responsible for the [...]