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Professional Services

Financial Conduct Authority imposes £11m fine on TSB for failing to treat arrears customers fairly
By City AM
The FCA said TSB Bank's failings could have led to unaffordable payment arrangements being agreed with customers in difficulty
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Investors withdraw £1.1bn from Liontrust as º£½ÇÊÓƵ budget concerns impact fund flows
By City AM
Every area of the asset manager's business saw net outflows in the second quarter of its financial year, with the largest, º£½ÇÊÓƵ retail funds and managed portfolio services, suffering a £904m exodus from investors.
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Cornish Metals appoints Endeavour Financial to South Crofty mine project
Finance
The Canadian-headquartered company is looking to raise finance as it progresses with its tin exploration work in Cornwall
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HSBC's new CEO plans $300m savings by streamlining senior management
By City AM
Georges Elhedery is reportedly considering measures to reduce layers of upper management and eliminate duplication in its top ranks at Europe's biggest lender
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KPMG and Natwest resume engagements with scandal-hit CBI after 18 months
By City AM
The CBI was on the verge of financial bankruptcy and had to be bailed out by Natwest after a police investigation into the firm found allegations of sexual harassment and assault
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The latest equity investment and acquisition deals in Welsh business
Banking & Finance
Deals featured include Kaydair, Western Marinas, Monty's Brewery, Seren Group and Forden Concrete Products
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Clarion Wealth Planning bought by management team – and directors vow to preserve firm’s independence
Finance
Founder Ron Walker will remain at Alderley Edge firm to ensure 'seamless transition'
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AJ Bell joins growing calls for Labour to rule out pension tax raid
By City AM
The FTSE 250 firm has warned that rumours of the government's tax plans are "hugely damaging"
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New CEO appointed at True Potential as co-founder Daniel Harrison steps down
Finance
Daniel Harrison launched the business in 2017 with his father David Harrison
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Cavendish warns of 'short-term uncertainty' as City braces for Budget tax hikes
By City AM
The City investment bank called for more support for SMEs in the Budget as investors brace for tax hikes
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º£½ÇÊÓƵ introduces pioneering bank transfer fraud refund scheme, caps claims at £85,000
By City AM
The Payment Systems Regulator (PSR) is requiring more than 1,500 banks, fintechs and other payment firms to reimburse victims of authorised push payment (APP) fraud up to a limit of £85,000 per claim
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Assura highlights º£½ÇÊÓƵ healthcare's pivotal moment as demand for private services surges
By City AM
The healthcare firm's chief executive Jonathan Murphy said the need for investment in healthcare was "starkly outlined" by the recent Lord Darzi report, which found the current primary care estate to be "plainly not fit for purpose"
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AAB expands its footprint in Northern England with acquisition of Bolton's Barlow Andrews and Beech Business Services
Professional Services
The move gives the professional services group a presence in the north west of England
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Bristol professional services brands relocate to new office hub
Offices
Shakespeare Martineau and Marrons are part of legal and professional services group Ampa
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Pound set for worst week of 2024 as º£½ÇÊÓƵ interest rate bets shift
By City AM
Sterling is on track for its worst week all year as investors reassess the path for º£½ÇÊÓƵ interest rates and the fallout from rising geopolitical tensions in the Middle East.
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People on the move: key North East appointments and promotions
Appointments
Companies welcoming new arrivals this week include Newcastle Building Society, JK Lifting, Howarth Litchfield, Robertson Construction and Sanderson Weatherall
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Acuity Law moves to new offices in Swansea to support growth plans
Professional Services
The firm has taken nearly 3,000 sq ft at the grade A waterfront Ethos office building
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Lloyds, HSBC, NatWest and other bank payments could be delayed three days
Banking & Finance
Experts hope it should not affect the vast majority of everyday payments
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Booming London insurance market creates hundreds of new jobs amid tech innovation
By City AM
The capital is the centre of the º£½ÇÊÓƵ's insurance sector, which is growing rapidly due to the rise of insurtech - and this means there's a huge number of new jobs available
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Credit agency Moody's upgrades º£½ÇÊÓƵ banking outlook as lenders adapt to low interest rates
By City AM
Credit rating agency Moody's has upgraded its outlook for the º£½ÇÊÓƵ banking system to 'stable' from 'negative'
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Barnsley's Countrywide Healthcare Supplies snapped up by phs Group
Deals
The care home supplier was acquired in an undisclosed deal
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Northstar Ventures launches £15m fund for Sunderland start-ups and scale-ups
Finance
The investor says the fund will support the city's extensive regeneration effort
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North East law firm Muckle reports record-breaking results for third year running
Company Results
The Newcastle firm is the reigning North East Business of the Year
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Ripe buys historic boat insurer as new CEO vows more acquisitions will follow
Finance
GJW Direct was founded in 1826 and specialises in non-commercial marine insurance
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FinanceUltimate Finance reports 'record' first half and moves into larger officesThe asset-based lender is seeing an increase in demand for its services
FinanceUltimate Finance reports 'record' first half and moves into larger officesThe asset-based lender is seeing an increase in demand for its services
Bank of England rate cut 'almost certain' after poor economic growth
By City AM
The 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.
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
Future of £58m Bristol research centre in question following deal
Deals
Wiltshire respiratory business Vectura has been acquired and the firm's new US owners have reportedly delayed a decision on the investment at Bristol and Bath Science Park
Liverpool's new town plan is 'one of the most exciting regeneration opportunities' in º£½ÇÊÓƵ and beyond
Economic Development
The new town would span 5km from just north of Liverpool city centre, across Everton, Anfield and Kirkdale and into Bootle
McVitie’s owner Pladis investing £68m in º£½ÇÊÓƵ sites – including big boosts for Stockport Jaffa Cake plant at Aintree's Jacob’s Cream Cracker bakery
Food and Drink
Move will see robotic chocolate moulding line in Stockport and new ovens at Liverpool bakery
County Durham tech firm Filtronic seals £13.4m defence deal
Deals
The deal comes during a strong period for the company, which has bases in Leeds, Sedgefield, Manchester, Cambridge and the US
East MidlandsSocotec expands º£½ÇÊÓƵ footprint with Scottish acquisitionThe Burton-based provider of testing services has bought out º£½ÇÊÓƵ Testing and Certification
Welsh recruitment firm marks 'successful' 12 months following MBO
Wales
The deal was completed last year and the business has since experienced considerable growth
Expansion for manufacturer following funding deal
West Midlands
The Active Hands Company was founded by Rob Smith after a life-changing spinal cord injury left him partially paralysed in all four limbs
Hinkley Point C workers to be provided with extra parking spaces at rugby club
EDF
The construction workforce at the new nuclear power station is expected to reach its peak over the next 18 months
County Durham tech firm Filtronic seals £13.4m defence deal
Deals
The deal comes during a strong period for the company, which has bases in Leeds, Sedgefield, Manchester, Cambridge and the US