RBS and NatWest have announced they will be opening 34 of their busiest branches this coming Bank Holiday, May 4, 2015. Bank holidays became law in the UK in 1871 to give workers time off, which meant that other businesses, dependent on banks, followed suit. However, modern-day life means that customers are demanding greater branch […]
UK-based bank Standard Chartered announced a 22% drop in Group operating profit for the first quarter of 2015, at US$ 1.47 billion (€1.35 billion) compared with US$ 1.87 billion (€1.7 billion) for the same period in 2014. The bank’s Interim Management Statement listed first quarter income down by 1% on a constant currency basis. Headline […]
The Financial Conduct Authority (FCA) has handed Deutsche Bank AG a £227 million (€315 million) fine, its largest ever for LIBOR and EURIBOR-related (collectively known as IBOR) misconduct. The fine is so large because Deutsche Bank also misled the regulator, which could have hampered its investigation. Georgina Philippou, acting Director of Enforcement and Market Oversight, […]
UK companies are attracting strong interest from overseas buyers with M&A deal values reaching $39.7 billion (€37 billion) for the first quarter, the highest figure since 2008, according to analysis from Deloitte. This is up 63% on the fourth quarter of 2014, when inbound deal values stood at $24.4 billion (€22.7 billion). The rise is […]
Metro Bank, the UK’s first new high street bank in more than 100 years, has reached its half millionth customer milestone as the bank announces its quarter one financial statement to 31 March 2015. The bank saw a 56% increase in accounts opened, to achieve the 500,000. Deposits increased to £3.4 billion (€4.7 billion) - […]
Recent research from specialist insurer Hiscox has revealed increased confidence in buying art online. According to the Hiscox Online Art Trade Report 2015, the value of the online art market has risen from $1.57 billion (€1.46 billion) in 2013 to an estimated $2.64 billion (€2.45 billion) in 2014. Based on these figures, online art buying […]
With this month marking the 20th anniversary since Venture Capital Trusts (VCTs) were created, figures from the Association of Investment Companies (AIC) show that the level of aggregate dividends is at its highest annual level since VCTs were established. The VCT sector paid out aggregate dividends of £240.3 million (€334 million) over the year to […]
April has seen the largest fall in sentiment towards UK government bonds, according to the monthly Lloyds Bank Private Banking Investor Sentiment Index. Net investor sentiment for the asset class declined five percentage points (-5pp) from last month to 16%. UK corporate bonds has also seen a decline in sentiment amongst surveyed investors to 14%, […]
The Financial Conduct Authority (FCA) has fined The Bank of New York Mellon London Branch and The Bank of New York Mellon International Limited £126 million (€175 million) for failing to comply with the FCA Client Assets Sourcebook (Custody Rules, or CASS), which applies to safe custody assets and to client money. Georgina Philippou, acting […]
A joint report from Brand Finance with the Chartered Institute of Management Accountants (CIMA) shows that companies have more than $1.58 trillion (€1.5 trillion) of assets unaccounted for, and calls for valuation of the UK’s ‘intangible assets’ and a debate about policy change. Unveiled at this morning’s The Value of UK plc event, hosted by […]
The gender pay gap for ICAEW Chartered Accountants working in business has widened, with women over 45 seeing the biggest drop in salaries from last year, according to the latest salary survey from ICAEW and Stott & May. According to ICAEW figures, male chartered accountants in business earn an average salary of £100,900 (€140,000) compared […]
Almost a million wealthy retirees in the UK plan to work part-time rather than raid their pension pots, despite new freedoms allowing them to do so from April 6, according to a report from RetireEasy.co.uk, the independent, free financial planning tool for those in or nearing retirement. Offering unprecedented insight into the finances of the […]
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