Taiwan ready and able to be a part of UN family September 16, 2019 Joseph Wu, Taiwan’s Foreign Minister, argues it is time for the country to be welcomed into the United Nations Earlier this year, President Tsai Ing-wen of the Republic of China (Taiwan) travelled through New York, an icon of diversity and freedom and home to the United Nations, as a prelude to her state visit to [...]
Nationwide reveals PPI hit of up to £50m as it becomes latest victim of claims rush September 13, 2019 Nationwide has become the latest company to reveal a hefty charge for mis-sold payment protection insurance (PPI) amid a surge in last-minute claims. Read more: N Brown shares drop after it reveals £20m to £30m PPI provision The building society today said it has set aside a provision of between £20m and £50m, in addition [...]
The great British sell-off: Three ways for investors to profit September 13, 2019 As the final act of the Brexit saga approaches, investors are still locked in a state of perpetual uncertainty. We can’t know what will unfold, but what business is continually telling the government is how difficult it is to plan in the current environment. Brexit is the moment when we will receive some clarity, for [...]
N Brown shares drop after it reveals £20m to £30m PPI provision September 12, 2019 Shares in British retailer N Brown have fallen 5.5 per cent this morning after it said it would have to set aside £20m to £30m more to cover claims about mis-sold payment protection insurance (PPI). Read more: Barclays and Lloyds Bank reveal PPI balance sheet hit The plus-size clothes retailer, which has cricketer Freddie Flintoff [...]
Fewer deaths hurt profits at The Co-op September 12, 2019 The Co-operative Group saw profits drop dramatically in the six months to July as the firm’s funerals business took a hit from an unexpected drop in the number of deaths. The figures Profit before tax sank to £25m, from £44m the year before owing to the funeral division’s poor performance. Revenue, however, rose 12 per [...]
Santander accused of circumventing professional PPI claims firms September 11, 2019 Professional claims managers have accused Santander of trying to minimise its PPI payments after the bank started going above their heads, dealing directly with customers. The bank confirmed it was talking to customers, skipping the claims management companies (CMCs) to save time on the process. Read more: Lloyds suspends share buyback as PPI costs rise [...]
Ranked: The UK’s fastest growing companies for brand value September 11, 2019 Deliveroo, Costa Coffee and Brewdog are growing in value faster than any other UK brands, according to a survey published today. The food delivery app topped the list, increasing its value 54 per cent to $1.4bn (£1.1bn), while coffee chain Costa jumped 48 per cent to $1.5bn, boosted by its takeover by Coca Cola. Read [...]
Belfast High Court to rule on no-deal Brexit challenge on Thursday September 10, 2019 The High Court in Belfast will rule on Thursday whether a no-deal Brexit is lawful after a campaigner lodged a case arguing that it would contravene the Good Friday Agreement. Activist Raymond McCord has argued that the case should be referred to the UK’s highest court, the Supreme Court, which will also hear businesswoman Gina [...]
Internal auditors name cybersecurity as the top risk faced by their businesses September 10, 2019 A survey of internal auditors published today has found cybersecurity, regulatory change and digitalisation are the top three risks faced by businesses across Europe. The survey of 528 chief internal auditors found 78 per cent named cybersecurity and data security as a top five threat threat facing their businesses, 59 per cent cited regulatory change [...]
EU capital markets post-Brexit will look ‘smaller, less developed and more French’ September 10, 2019 Capital markets in the European Union will look “smaller, less developed and more French” in the wake of Brexit, according to a report released this morning. Britain’s split from the EU is likely to reduce the trading bloc’s footprint in capital markets from 21 per cent of global activity to 14 per cent, putting it [...]