Nationwide banks £2.3bn gain from Virgin Money takeover as profit tumbles November 27, 2024 Nationwide has bagged a £2.3bn gain from its acquisition of Virgin Money, setting up a windfall for members of Britain’s biggest building society.
Should investors sell stocks at 52-week high? November 18, 2024 Natwest Group shares reached their 52-week (and 13-year) high earlier this month, closing near 390p per share on 4 November. The new peak was reached after leading broker Peel Hunt upgraded the bank’s price target from 410p to 450p. The share price has surged by more than 50 per cent since the UK government gave [...]
Mark Kleinman: Thames needs to clear murky waters to restore credibility November 14, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week he tackles resetting Reeves, Thames Water and challenges for challenger banks Reeves’s post-reset reset may need new faces at City regulators How about a post-reset reset? Such has been the turbulence of Labour’s [...]
UK set for buy-now pay-later revolution, says Clearpay’s Nick Molnar November 14, 2024 Molnar tells City AM the future is limitless for the buy-now pay-later juggernaut he founded with then-neighbour Anthony Eisen in 2014.
Treasury sells another £1bn in Natwest shares as stake falls further November 11, 2024 Natwest has bought back another tranche of shares from the Treasury as the government continues to accelerate its exit from the Big Four lender.
Sainsbury’s: FTSE 100 retailer warns Reeves’ budget may push up food prices November 7, 2024 Chief executive of Sainsbury’s Simon Roberts has warned that Reeves’ decision to increase employer’s national insurance contributions (NICs) by 1.2 per cent to 15 per cent next April could lead to price inflation. Sainsbury’s has estimated the cost of the change at £140m, according to the Guardian. “This industry operates on very low margins, and there just [...]
Natwest shares hit 13-year high after broker upgrade November 4, 2024 Natwest shares jumped to a 13-year high on Monday after a leading broker upgraded the bank’s price target. Shares in the London-listed bank, formerly known as Royal Bank of Scotland Group (RBS), jumped over three per cent on Monday to just under 390p per share. The discernible jump came after analysts at Peel Hunt upgraded [...]
Sainsbury’s sells Argos credit cards for £720m in financial services retreat October 31, 2024 Sainsbury’s has struck a deal to sell its Argos credit card portfolio for roughly £720m as the supermarket withdraws further from financial services to focus on retail.
Ocado announces new chair sooner than expected October 31, 2024 Ocado has announced KKR senior advisor Adam Warby will succeed Rick Haythornthwaite as its chairman in December. As well as working for KKR, Warby also serves as chair of management consultant firm Heidrick & Struggles, and previously held various positions at Microsoft and IBM. Earlier this year, Ocado said Haythornthwaite would step down to focus [...]
Mark Kleinman: The world’s local bank just got more complex October 31, 2024 Mark Kleinman is Sky News’ City Editor and is the man who gets the Square Mile talking in his weekly City AM column. This week he tackles HSBC’s shake-up, CBI losing its voice and recruiting a watchdog referee The world’s local bank just got more complex If it ain’t broke, don’t fix it. Investors in HSBC Holdings would [...]