Banking (UK)

Amanda Staveley: the unusual case of Newcastle United’s would-be-owner

The businesswoman is said to have £28bn under management but her UK company has no assets or employees<p>For supporters of Newcastle United, the great, underperforming north-east football institution, the indignities of ownership under Mike Ashley have ground up the gears again. Ashley, boss of …

Amanda Staveley

Revealed: Carillion collapsed with £5bn of financial liabilities

Sky News can reveal that private analysis of Carillion's pension deficit on a Section 75 - or full buyout - basis has concluded that it was as high …

Finance

Carillion: Six charts that explain what happened

<b>The collapse of construction giant Carillion has put thousands of jobs at risk across the UK. Here are six charts and maps that tell the story of the firm's demise.</b><p>1. Carillion employed a lot of people<p>Carillion may not have been a household name, but it employed 43,000 staff globally, around half …

Santander UK

Still got some old round pounds? It's not too late to change them for new ones

You might know the old £1 coins are no longer legal tender.<p>But did you realise you can still take them to the bank - and sometimes get shiny new ones …

Banking

Carillion taskforce to discuss how to prevent domino effect on UK economy

Business secretary convenes meeting after unions call for limiting job losses at collapsed firm and supply chain companies<p>A taskforce of banks, businesses and construction industry trade bodies will meet with the business secretary on Thursday to discuss ways to contain the impact of Carillion’s …

Business

Forget about a pay rise: The 3 charts that define the struggles of the British consumer in 2018

• <b>Dutch bank ING doesn't see things getting much better for the squeezed British consumer in 2018.</b>• <b><br>Consumers — often described as the powerhouse of the British economy — are struggling in the post-Brexit landscape thanks to high inflation and stagnant wage growth.</b>• <b><br>ING economist James Smith compiles</b> …

Business

10 things you need to know in markets today

Good morning! Here's what you need to know on Friday.<p>1. <b>Five UK banks are facing heavy losses on loans to Carillion, after irreconcilable differences between the company, its lenders and the government pushed the UK construction and services group into liquidation on Monday, sources told Reuters.</b> …

Business

Number of UK homemovers at 10 year high

If you’re reading this surrounded by boxes, you’re not alone. The number of people moving home at any one time is now at its highest level since …

Real Estate

Stop calling GBP the Great British Peso, says DB

Currency depreciation --> looser monetary policy is not a feature of EMs.<p>Continue reading: Stop calling GBP the Great British Peso, says DB

Economics

Tracker mortgage scandal set to cost banks close to €1billion

The revelation came as Central Bank Governor Philip Lane was told regulators should examine themselves when they are conducting a review of the …

News (Ireland)

British shoppers reined in Christmas spending, official figures show

Spending fell 1.5% in December as consumers brought forward purchases to Black Friday<p>British consumers sharply reined in spending over the Christmas period, as Black Friday deals encouraged them to purchase presents earlier, rounding off the weakest year for retail sales since 2013.<p>According to the …

Business

Man, 70, gets suspended sentence for his part in credit card scam

A 70-year-old man has received a suspended jail sentence for his part in a credit card scam that targeted businesses across the country, <i>writes Declan</i> …

News (Ireland)

Stocks - European Markets Steady to Higher With Earnings in Focus

© Reuters. Frankfurt Stock Exchange<p>Investing.com - European markets opened steady to higher on Friday, as investors focused on a fresh round of …

Stock Markets

You can now make your boss save money for you - how the new scheme works

Employees could find it easier to start a savings habit and build up their "rainy day" funds due to a new initiative from a building …

Building Societies

Liberal Democrat leader Vince Cable uses parliamentary privilege to name Santander UK boss Nathan Bostock as "responsible" for RBS GRG's strategy

Former business secretary Vince Cable has used parliamentary privilege to allege that the current chief executive of Santander UK, Nathan Bostock, …

Santander UK

COLUMN- Industrial metals bull party on hold; will restart shortly: Andy Home

(The opinions expressed here are those of the author, a columnist for Reuters)<p>* Graphic on 2017 price performance: tmsnrt.rs/2Dg2rGY<p>* Graphic on fund positioning in copper: tmsnrt.rs/2DIHntK<p>By Andy Home<p>LONDON, Jan 18 (Reuters) - After the party must come the hangover.<p>Industrial metals went on …

Economy

Nationwide to guarantee 250 Carillion contractor jobs

LONDON (Reuters) - Britain’s Nationwide Building Society (POB_p.L) will employ around 250 contractors from failed outsourcing company Carillion, the lender said on Thursday, meaning their jobs will be saved.<p>Nationwide said in a statement a further 1,500 staff are engaged by separate, third-party …

Building Societies

HSBC to Pay $100 Million to End U.S. Currency-Rigging Probe

HSBC Holdings Plc has agreed to pay about $100 million in penalties to resolve a U.S. Justice Department investigation into the rigging of currency …

Corruption

Cloud anarchy in the UK: Here’s how to beat it - Ahead in the Clouds

<b>In this guest post, Allan Brearley, cloud practice lead at IT services consultancy ECS and Tesco Bank’s former head of transformation shares his</b> …

Anarchism

The founder of one of Britain's biggest hedge funds thinks the Bank of England is 'embarrassing' itself by being too negative on Brexit

• <b>Paul Marshall, cofounder of $34 billion UK hedge fund, Marshall Wace, accuses the Bank of England of anti-Brexit bias.</b>• <b><br>The Old Lady of Threadneedle Street's forecasts since the vote have been "so far adrift as to be embarrassing," Marshall wrote in the Financial Times.</b>• <b><br>Marshall was a major backer of</b> …

Business

This Central Bank Has the Worst Track Record for Predicting Inflation

No central bank is perfect but for forecasting its key metric, the Bank of England is at the bottom of the pile.<p>The three-century-old institution has …

Economy

Carillion’s board: misguided or incompetent?

Following the collapse this week of Carillion, with less than £30m in the bank and liabilities of more than £2bn, the board of the construction …

Governance

High-level investment bank cuts expected at Barclays

Barclays (BCS +0.9%) is expected to weed out 100 senior staff employees from the investment bank business, according to Bloomberg.<p>Sources indicate …

Business

IBM Stock Wins a "Double Upgrade" Ahead of Earnings: What You Need to Know

Earnings arrive tomorrow. Wall Street is optimistic, and we're here to tell you why.<p><i>Every day, Wall Street analysts upgrade some stocks, downgrade</i> …

Stocks

RAC launches flexible loan for used cars that mimics PCP

Used car buyers are to be offered the low monthly payments usually seen on new car finance deals after the RAC launched a flexible loan that mimics …

Money

PPI firm fined £350,000 for making 75 million spam calls in four months

A PPI company that made 75 million nuisance calls in just four months has been fined £350,000 by the Information Commissioner's Office.<p>The director …

Lloyds Bank

Mixed New Year messages from Bank of England on next rates move

© Reuters. FILE PHOTO: A statue is silhouetted against the Bank of England in the City of London<p>By William Schomberg<p>LONDON (Reuters) - The first two …

Economy

'Why did I have to battle my mortgage provider when I was diagnosed with cancer?'

By 2020 almost half the population will receive a cancer diagnosis in their lifetime and for most the financial impact is huge. For 80pc of people with cancer the disease costs them an extra £570 a month in lost income or increased outgoings, according to Macmillan Cancer Support, the …

Mortgages

UK pay growth will accelerate and jobless rate will hit fresh lows, insists Bank of England's Michael Saunders

Michael Saunders, a member of the Bank of England's monetary policy committee, has insisted that UK pay growth will accelerate this year as the …

Economy

Santander Invests £28.5 Million In Battery Energy Storage Solutions

<b>Published on</b> January 16th, 2018 | <i>by Joshua S Hill</i><p>0<p>January 16th, 2018 by <b>Joshua S Hill</b><p>Spanish banking giant Santander has announced this week it will …

Santander UK