RBS launches ‘social bond’ for deprived areas November 8, 2019 The Royal Bank of Scotland (RBS) has launched a “social bond” aimed at boosting lending within deprived areas of the UK. The banking giant announced this morning that the bond would be linked to roughly £2.5bn of lending to small firms in disadvantaged areas. Read more: HSBC receives second warning from Bank of England An [...]
Charles Taylor share price rockets by more than 10 per cent on higher takeover offer November 8, 2019 Charles Taylor’s share price has jumped by more than 10 per cent this morning after agreeing a higher takeover offer with Lovell Minnick than September’s recommended bid. Directors of the insurance support services provider gave the green light on a 315p per share offer from US private equity firm Lovell two months ago. Read more: [...]
European markets rise as US and China agree to phase out tariffs November 7, 2019 European markets have risen this morning after the US and China announced plans to gradually lift tariffs as the two countries work towards securing a trade deal. News of the trade-war de-escalation buoyed Britain’s FTSE 100 index, sending it up as much as 0.44 per cent in morning trading. The blue chip index was sitting [...]
RSA shares up on underwriting profit boost November 7, 2019 Shares in insurer RSA rose today after it announced underwriting profit had grown in the first nine months of the year. The FTSE 100 company said operating profit rose in the first nine months of the year, but did not publish third quarter numbers. RSA’s shares rose 3.3 per cent to 550p this morning. Read [...]
Changing times: Market leaders and investor groups call for shorter working day on trading floors November 7, 2019 The daily bustle on Europe’s high-octane trading floors should be cut short by more than an hour in a bid to improve mental health and diversity, two of the financial industry’s most influential bodies have urged this morning. The London Stock Exchange (LSE) has said it will begin a formal consultation looking at working hours [...]
Co-op bank losses widen in wake of PPI costs and fierce mortgage market November 7, 2019 The Co-operative Bank has reported widening losses during the third quarter of this year, as it became the latest in a long line of lenders to take a financial hit from the payment protection insurance (PPI) scandal. The British bank reported losses before tax of £118.6m during the nine months to 30 September, deepening from [...]
Uber rival Bolt bolsters green credentials with environmental investment fund November 7, 2019 Ride-hailing app Bolt is set to launch a €10m environmental impact fund in a bid to boost its green credentials. Bolt, which recently committed to making all journeys taken via its app will be made carbon neutral through offsetting, said the fund would invest in initiatives that deliver “social and environmental benefits”. Read more: Uber [...]
What is IR35? Everything you need to know about the tax coming to the private sector November 6, 2019 After rolling out into the public sector in April 2017, HMRC’s controversial IR35 tax is set to hit private sector contractors in 2020. And it promises to cost workers a big chunk of change: one estimate suggests contractors could pay 25 per cent more in tax. Self-employed contractors are now grappling with the legislation, which [...]
Monzo’s ‘hot coral’ colour trademark attempt rejected November 6, 2019 Online bank Monzo’s attempt to trademark its distinct “hot coral” colour has been rejected. The fast-growing fintech firm’s application to register the bright signature colour as its own was turned down by the intellectual property office. The move, first reported by Financial News, was an attempt to protect the brand’s image against a number of [...]
Money walks: 15-minute daily stroll could give world economy $100bn boost November 6, 2019 Amid tit-for-tat trade wars and rising civil unrest, economists have been fretting over how to avoid another global economic slowdown. But new research has offered an unorthodox approach to boosting the world’s finances: a 15-minute walk. The world economy could grow by an average of $100bn a year until 2050 if all adults aged 18-64 [...]