National Australia Bank (NAB) reveals new details about Clydesdale Bank IPO set for February of next year December 7, 2015 National Australia Bank (NAB) has today unveiled new details about its planned spinoff of Clydesdale Bank, saying that the demerger and initial public offering (IPO) of the British business is set to go ahead next February. NAB intends to sell 25 per cent of Clydesdale to new investors in the IPO, while giving the remaining 75 [...]
Leadenhall Street stabbing leaves man critically injured in hospital December 6, 2015 Four men have been arrested in connection with a stabbing at the centre of the Square Mile which left a man critically injured in hospital. The incident took place in the early hours of Sunday morning on Leadenhall Street near the Lloyds of London building. A City of London police spokesman told the Evening Standard: “He is currently in [...]
Bank of England approves 19 insurers’ solvency II models for capital ratios ahead of EU 2016 rules, including Aviva, Prudential and Lloyds of London December 6, 2015 Several of Britain's biggest insurance firms, including Aviva, Prudential and Lloyds of London have been given the thumbs up by the Bank of England for new rules governing how much capital they should hold. The Solvency II capital rules which come into force across the EU from the start of next year, mean insurers are able [...]
The Help to Buy Isa for first-time buyers launches today: Here’s everything you need to know, including which banks and building societies will provide it and how much you can borrow December 1, 2015 It was now many moons ago that George Osborne introduced the Help to Buy Isa (Help to Buy-sa to its friends), which will give savers £50 for every £200 they save, up to £12,000. Nine months after it was first announced, the scheme is finally ready to be unveiled, with the launch slated for today. In other words: first-time [...]
CBI director-general Carolyn Fairbairn says mid-sized firms are the “missing link” in the British economy November 30, 2015 Carolyn Fairbairn will use her first major speech as Confederation of British Industry (CBI) director-general today to call on the government to introduce new policies to promote medium-sized businesses. Speaking at CBI event in London, Fairbairn will say that Britain’s 3,000 so-called “scale-up medium-sized businesses” (MSBs) contributed £59bn to the UK economy between 2010 and 2013. [...]
Grand Designs’ Kevin McCloud talks Britain’s House of the Year 2015 November 27, 2015 It is a curious paradox that, while so many of us want to own our own homes, so few get to build one. Finances and the planning system seem to conspire, with the result that personalisation of where we live is frequently restricted to some amateur interior design. But there is a way to get [...]
City Moves for 27 November 2015 | Who’s switching jobs November 27, 2015 ICENI PROJECTS The planning consultancy has appointed Alana O’Neill as sustainable development director to head up its integrated sustainability team. She was previously a sustainability and energy consultant at New Energy Trust. O’Neill has over 25 years’ experience and has also held roles at SSE and EON. MACQUARIE Agnes Mazurek has been appointed managing director [...]
New CBI director-general Carolyn Fairbairn takes the reins at Britain’s biggest business group November 23, 2015 Speaking to City A.M. at the Confederation of British Industry (CBI) headquarters on Cannon Street last week, Carolyn Fairbairn said that she is “proud” to be the first female director general in the 50-year history of Britain’s biggest business group. “I think business is a great career for women,” she said. “If my being here [...]
FTSE 100 boosted by Fed and ECB policy minutes – London Report November 20, 2015 The London market soared yesterday, pushed higher by stronger than forecast results at Royal Mail and more signals of an interest rate rise from the US. The blue-chip index closed up 0.8 per cent at 6,329.93, its fourth consecutive day of gains. The minutes of the policy-setting Fed committee, released after the close on Wednesday, [...]
HBOS report: Crisis probe is the Never-Ending Story November 19, 2015 It has been 2,617 days since Lloyds TSB’s merger with HBOS was struck. Today – at last – we will get the fullest account yet of why HBOS needed rescuing in the first place. The delay in publication isn’t the least shocking aspect of Britain’s banking crisis. If the purpose of such inquiries is to [...]