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Professional Services

Former JP Morgan man leads acquisition of £3.5m stake in Atom Bank
Deals
Sanjiv Somani is reported to be heading up an investment vehicle that is negotiating a stake in the North East-based challenger bank
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Metro Bank hit with £16.7m fine for inadequate monitoring of £51bn worth of transactions
By City AM
The FCA said that Metro Bank had failed to adequately monitor over 60 million transactions for money laundering risks between June 2016 and December 2020
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Scunthorpe accounting firm Jackson Stapleton secures £150,000 funding deal
Deals
The funding will fuel Jackson Stapleton’s continued growth, enabling a new acquisition in Retford
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Bitcoin price rockets to new all-time high as Trump effect continues
By City AM
The price of Bitcoin has surged above $82,000 to a new all-time high as the cryptocurrency continues its post-election rally in the wake of Donald Trump's return to the White House
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NatWest buys back £1bn shares in latest step towards privatisation
NatWest
The lender has now bought back £2.2bn of state-owned shares so far this year
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Saving the day: How helping employees save could have ‘immediate and direct impact’ on thousands of families
Employment
'We think this approach could be as transformative as the intro of auto enrolment for pensions'
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The Bank of England's latest interest rate decision is a sign of things to come
By City AM
The Bank of England's decision to cut its benchmark interest rate for a second time came as a surprise to many, but the central bank has been paving the way for the move for several months now.
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Shawbrook Bank's loan and deposit books surpass £15bn amid robust demand in real estate
By City AM
The specialist bank said demand for lending had surged through the opening nine months of the year
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Bank of England announces rate cut amidst Budget implications
By City AM
The Bank of England has cut interest rates for the second time this year, but signalled that the pace of easing would be tempered by the impact of the government's first Budget.
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Bank of England poised to cut º£½ÇÊÓƵ interest rates for second time this year
Finance
The decision will be announced by the central bank at midday
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Prudential reports 11% rise in business profit, buoyed by strong performance in China and Southeast Asia
By City AM
The Asia-focused insurer said it had notched £2.35bn in new business profit across its global markets for the first nine months of its year, an 11 per cent rise on the same period last year
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FTSE 100 climbs sharply as US-focused º£½ÇÊÓƵ firms benefit from Trump's presidency
By City AM
The FTSE 100 surged at the open today, and sterling crashed as traders digested how Donald Trump's presidency will impact the global economy and the º£½ÇÊÓƵ
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City law firms see partner fees falling for second year as regionals close gap
By City AM
New figures have shown that the average fees per City partner have fallen for the second year in a row, as regional law firms begin to close the gap
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Lloyd's of London insurer says hurricane losses will not impact profit target
By City AM
Beazley reported insurance written premium growth of seven per cent to $4.6bn (£3.6bn) for the nine months ended 30 September 2024
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HSBC warning as two million customers face new gold scam
By City AM
The banking giant has told people to watch out for an impersonation scam which involves buying gold and handing it over to criminals for "safekeeping"
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Bank of England rate cut expected despite 'fiscal loosening' of Budget
Finance
Policymakers will announce the result of their November meeting on Thursday
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º£½ÇÊÓƵ motor finance sector faces potential crisis after court ruling on hidden commissions
By City AM
The motor finance industry is in turmoil after a landmark court ruling on 'secret' car loan commissions - as judges have thrown the market into chaos
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Changes at the top announced by North East legal company Jacksons Law Firm
Appointments
The new appointments come as Tony Wentworth announces he is stepping down as managing partner
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People on the move: key North East appointments and promotions
Appointments
Companies announcing new arrivals this week include Shared Interest, DPP, SMD, Muckle LLP and Melius Cyber
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Secure Trust Bank anticipates lower profits following motor finance industry upheaval
By City AM
The London-listed lender said that following the Financial Conduct Authority's motor finance decision, it restored vehicle finance loan collections activity to normal levels
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Barclays completes £600m Tesco Bank takeover after high court approval
By City AM
Barclays has completed its £600million takeover of Tesco Bank after the high court approved the buyout on 17th October
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WorkNest expands with Wirehouse acquisition for undisclosed sum
Deals
The deal marks the third acquisition for The GRC Group this year
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Music tuition firm raises funding to expand tech platform
West Midlands
Totally RAD was launched in 2013 and now works with schools to provide face-to-face music classes
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Sainsbury's continues financial services exit with £720m Argos credit card sale
By City AM
Supermarket giant Sainsbury's has offloaded its Argos credit card business as it continues to exit the financial services market in order to focus on retail
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By City AMBank of England rate cut 'almost certain' after poor economic growthThe Bank of England is "almost certain" to cut interest rates next month after the economy slumped for a second month in a row, according to economists.
Future of º£½ÇÊÓƵ banking: Which specialist lenders are likely takeover targets?
By City AM
The º£½ÇÊÓƵ banking sector has seen a flurry of mergers and acquisitions in recent years, with the latest a landmark deal between Santander and TSB Bank
Call for new º£½ÇÊÓƵ 'investment hub' to prevent financial services from losing global position
By City AM
A new report warns that the º£½ÇÊÓƵ risks losing its status as a leading financial centre unless it acts quickly to modernise and streamline investment services
Jupiter snaps up º£½ÇÊÓƵ's largest investment manager for non-profits in £100m swoop
By City AM
The FTSE 250 fund manager said the deal to buy CCLA will deliver at least £16m in annual recurring cost savings as it seeks to streamline support functions and incorporate CCLA's technology to reduce duplication in systems.
Close Brothers announces strategic shift in lending, prioritising commercial insurance over personal lines
By City AM
The lender said it would start to focus on insurance products designed for businesses, which the firm said offered better risk-adjusted returns and long-term growth potential
TransportFuture of northern HS2 land still 'under consultation'Lord Hendy tells new BBC podcast series the land earmarked for Leeds and Manchester legs is still held by HS2
Work starts on new £1.25bn electric arc furnace for Tata at Port Talbot
Wales
The electric arc furnace will make greener steel from scrap.
Housebuilders agree record £100m payments after competition probe
Housing
Barratt Redrow, Bellway, Berkeley Group, Bloor Homes, Persimmon, Taylor Wimpey and Vistry have been investigated over allegations of sharing information
£2m sale deal for Sutton Coldfield property
West Midlands
Home to wine warehouse and dental surgery has been snapped up by private investor
Greenergy to close Immingham biodiesel plant with 60 jobs at risk
Enterprise
The firm has announced plans to close its base at West Riverside, Immingham, which it started production at 18 years ago, with the loss of 60 jobs
WalesWork starts on new £1.25bn electric arc furnace for Tata at Port TalbotThe electric arc furnace will make greener steel from scrap.
Future of northern HS2 land still 'under consultation'
Transport
Lord Hendy tells new BBC podcast series the land earmarked for Leeds and Manchester legs is still held by HS2
Chancellor Rachel Reeves cautioned against more tax hikes as economy contracts
By City AM
Experts have warned the government could be facing a £30bn blackhole in the public finances, with the Office for National Statistics (ONS) revealing the º£½ÇÊÓƵ economy contracted by 0.1% in May
Greenergy to close Immingham biodiesel plant with 60 jobs at risk
Enterprise
The firm has announced plans to close its base at West Riverside, Immingham, which it started production at 18 years ago, with the loss of 60 jobs
Call for SME 'champions' to support Invictus Games 2027
West Midlands
New business initiative launched which it is hoped will raise vital funds to help host the sporting spectacle at the NEC