Mortgage price war as interest rate hike prospects fade October 20, 2014 Banks slashed mortgage rates again this weekend as the prospect of monetary tightening from the Bank of England receded even further into 2015. Lenders had started increasing rates earlier this year as they believed the booming British economy would lead policymakers to raise interest rates. But the Bank’s monetary policy committee has resisted lifting rates [...]
RBS: Mortgage borrowers are not ready for interest rate hikes October 16, 2014 Borrowers are not ready for higher interest rates and could struggle to pay the bills even with a small rise in repayments, RBS chief Ross McEwan warned yesterday. Most RBS and NatWest mortgage borrowers had never experienced an interest rate rise, he said, and nationally more than 1.5m borrowers bought their house after 2007 when [...]
NatWest offers classes for SMEs September 28, 2014 NATWEST is to spend £15m over the next five years offering classes and funds for small- and medium-sized enterprises (SMEs), the bank said today, in RBS Group’s latest initiative to show it supports small firms. The scheme consists of eight sites around the country where small companies will be offered classes and guidance over a [...]
Monitise tanks by £300m after Visa mulls exit September 18, 2014 FORMER stock-market darling Monitise saw £290m wiped off its market valuation yesterday after its fourth-largest shareholder, Visa International, said it was considering the sale of its stake in the mobile banking firm. The revelation that Visa was “considering its options” for the 5.5 per cent holdings sparked a downwards spiral in the firm’s stock that [...]
Monitise share price dips as mobile banking firm eyes move to FTSE September 15, 2014 Aim-listed Monitise could consider a move to the main London Stock Exchange market as soon as this financial year, the mobile banking and payments firm’s chief executive told City A.M. yesterday. “The fact that we’ve reiterated that we’re seriously considering [a move to a main listing] shows that we’re thinking imminently, hopefully within this financial [...]
City Moves for 12 September 2014 | Who’s switching jobs September 11, 2014 Lend Lease The property and infrastructure group has appointed Paul King as managing director of sustainability for its European region. He will join in February 2015 from the UK Green Building Council, where he is chief executive. Zeus Capital Adam Pollock has been appointed head of corporate broking at the investment bank. He joins from [...]
Bank veteran Liz Airey to orbit Jupiter Fund Management as chair steps back September 2, 2014 Jupiter Fund Management swapped one investment banking veteran for another yesterday after its chairman was forced to retire due to ill health. Former SG Warburg financer Liz Airey was appointed chairman after incumbent Jamie Dundas, a former Morgan Grenfell banker, was forced to step down. Dundas, who is 63 and also a non-executive [...]
Monitise share price soars on extension to IBM partnership August 27, 2014 London-listed Monitise saw its shares soar 13.2 per cent yesterday after the mobile banking and payments firm announced a deeper alliance with business giant IBM. This would include the transfer of teams from Monitise’s development and implementation workforce to IBM. Monitise sells white-label mobile banking software – used by customers including Visa, Natwest and HSBC [...]
RBS share price falls as it is fined £15m for mortgage advice failings August 27, 2014 Shares in Royal Bank of Scotland fell 0.5% in early trading on Wednesday, after it was fined £14.5m for “serious failings” in the way it advised customers about mortgage loans, in another blow for the embattled bank. The Financial Conduct Authority found a series of failings by the state-owned bank and its Natwest arm in [...]
City Moves for 27 August 2014 | Who’s switching jobs August 26, 2014 EY The professional services firm has announced the appointment of Randy Miller as global automotive and transportation sector leader, effective immediately. He has more then 25 years’ consulting and client service experience with EY and, formerly, with Andersen Business Consulting, where he served as global automotive sector leader. Heptagon Capital The asset management firm has [...]