Lloyds Bank private equity arm LDC invests £25m in energy price comparison firm Love Energy Savings September 10, 2018 Lloyds Bank's private equity arm LDC today announced it had invested £25m into energy comparison firm Love Energy Savings. The secondary buyout of the business is expected to accelerate its growth, and marks a partial exit for NVM Private Equity, which first backed the comparison site in September 2015. Bolton-based Love Energy specialises in comparing business energy [...]
Debenhams calls in top auditors to weigh up potential insolvency September 9, 2018 Embattled department store chain Debenhams has called in Big Four accountancy firm KPMG to help carry out desperate restructuring measures which could include a controversial insolvency process. Among the contingency options currently being weighed up by KPMG is a company voluntary arrangement (CVA), which is an insolvency option that can be used to close stores [...]
New powers that could see cold call firms fined up to £500,000 come into force September 8, 2018 Companies cold-calling customers without their consent could be fined £500,000 from today as new measures come into force. Previously consumers had to opt-out of receiving calls by registering with the free Telephone Preference Service or withdraw their consent during the call. But the new powers will put the onus on the callers to make sure [...]
Lloyd’s of London hires former QBE chief John Neal as new CEO September 7, 2018 John Neal has been appointed as chief executive of Lloyd's of London, succeeding Inga Beale, who had been in the role since 2013. His appointment was ratified after a meeting of the Council of Lloyd's where his appointment was unanimously approved. He will begin his new role at Lloyd’s on 15 October 2018. Previously John Neal [...]
Former QBE boss expected to be announced as new Lloyd’s CEO September 7, 2018 The former head of Australian insurance giant QBE is expected to be named as Dame Inga Beale's replacement as chief executive of Lloyd's of London. John Neal's appointment was reportedly approved at a Lloyd's council meeting yesterday. This came after Neal was recommended by the Lloyd's Remuneration committee, spearheaded by chair and former RSA chief executive [...]
City Moves for 7 September 2018 – who’s switching jobs at Fenchurch Advisory Partners, Wyelands Bank and CVC Credit Partners? September 7, 2018 Today’s City Moves cover financial services, small-business banking and Fenchurch Fenchurch Advisory Partners has appointed William Nourse as a senior managing director. William has more than 20 years of experience of corporate finance in the financial services sector. He joins from Credit Suisse, where he was a managing director in the financial institutions group. Before [...]
Hammond rows back on pledge to ease tax burden for self-employed workers September 6, 2018 Chancellor Philip Hammond has abandoned plans to give 3.4m self-employed people a tax break, it emerged earlier today. In a move to free up £350m for potential extra NHS funding, the Treasury is scrapping a tax cut that would have saved the UK’s self-employed workers an average £134. The relief had first been revealed in [...]
Super Soco review, price, specs and details: Could this be the Tesla of motorcycles? September 6, 2018 The first time I rode a moped, I immediately crashed it into a parked car near my house. Just ramped up onto the pavement like Steve McQueen and smashed into a Fiesta, causing several pounds worth of damage. I was 15 years of age, which is so long ago now that no policeman can arrest [...]
Is a rise in this niche borrowing a red-flag indicator for the stock market? September 6, 2018 “There can be few fields of human endeavour in which history counts for so little as in the world of finance.” John Kenneth Galbraith On The Value Perspective blog, we have a folder of what we call ‘red-flag market indicators’. It has started to bulge as investor confidence, a decade into an equity bull market, continues [...]
Pensions provider Just delays dividend amid mortgage rule change fears September 6, 2018 Pensions provider Just Group has delayed issuing its half-year dividend due to the threat posed to its finances by new lifetime mortgage rules. The life insurer also reported an 85 per cent increase in its adjusted operating profit to £124m for the six months ending 30 June after “exceptional sales growth” of its retirement products. [...]