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Professional Services

Bank of England's Huw Pill cautions against complacency in inflation fight despite rate cut
By City AM
Bank of England chief economist Huw Pill said that despite returning to the two per cent target, inflation still needs to be "squeezed out" of the º£½ÇÊÓƵ economy.
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Global markets slump on US recession fears as FTSE 100 tumbles and Amazon shares crash
By City AM
Stock markets have been rocked by fears of a US recession after data showed the American economy is beginning to slow down, with the FTSE 100 plunging and Amazon shares crashing
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Eversheds Sutherland profit growth stalls as it battles 'challenging economic conditions'
By City AM
The law firm said that growth had been 'more challenging economic conditions' in most of the markets it operates in, with net profit virtually flat on the previous year
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Axa reports over £50bn in revenue as it exits asset management with BNP Paribas deal
By City AM
The French insurer has reported that its underlying earnings were up from £3.5bn to £3.6bn in H1 2024, as the group also revealed that it has agreed to sell its asset manager to a French banking giant
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Newcastle Building Society provides £20m for victims of Philips Trust Corporation collapse
Company Results
The sum has impacted the mutual's half year pre-tax profits though it has shown strong underlying performance
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Virgin Money sees drop in lending in Q3 as arrears levels stabilise
Company Results
The challenger bank said it had incurred £10m of restructuring costs, which come ahead of its takeover by Nationwide Building Society
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Deal market ‘set to rebound’ after slow start to 2024, KPMG says
KPMG
'There are strong fundamentals for the M&A market in the North West to return to healthier levels of activity'
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Haines Watts' Northern city offices acquired by Evelyn Partners
Deals
The company's offices in Manchester, Leeds, and Newcastle have been snapped up in the transaction
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Bank of England cuts interest rates for first time since March 2020 in knife-edge decision
By City AM
Interest rates have been cut for the first time in nearly two years in a knife-edge decision that saw Governor Andrew Bailey and four others vote to reduce borrowing costs.
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Leeds Building Society opening West Midlands branch
West Midlands
New site will launch in Solihull by the end of the year as the society enjoys record half-year performance
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Barclays announces £750m buyback as profits beat expectations
By City AM
The lender's investment bank and wealth management division were the star performers in the three months to June, with income rising ten per cent and seven per cent respectively
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Bupa reports a 45% surge in profits, driven by robust customer growth across global markets
By City AM
The company's total underlying profit for the first six months of the year was driven by the increase in revenues and returns across all its market units
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Develop North grows first half revenues as it sounds positive note on the economy
Company Results
Chairman John Newlands pointed to house price performance and a small rise in household disposable incomes
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Leeds Building Society books record lending and saving amid membership increase
Company Results
Boss Richard Fearon said the mutual is now well placed to invest for the future
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Family law firm Grant Stephens opens Swansea office and targets more growth in south west Wales
Professional Services
Waterfront office will be headed up by director Nia Thomas
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Tech revenues soar at HR software specialist Talos360 as LDC-backed business plans acquisitions and further growth
Tech
Warrington firm sees tech revenues rise 55% as overall sales rise 10%
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Oil prices and FTSE 100 surge after assassination of Hamas and Hezbollah leaders in Middle East
By City AM
The FTSE 100 jumped over a hundred points on Wednesday morning, after the assassinations of two Hamas and Hezbollah leaders caused the index's energy and commodities constituents to surge
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Metro Bank anticipates profitability by year-end despite current losses, shares surge 22%
By City AM
The high street bank said it expects to return to profitability in the final quarter of this year, after swinging to a first-half loss
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Paragon Bank's robust performance surpasses expectations with strong buy-to-let and SME lending
By City AM
Paragon, based in Solihull in the West Midlands, is a provider of loans to professional landlords
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FCA extends motor finance scandal probe as Barclays takes legal action
By City AM
The FCA says it is extending its review into the motor finance market amid ongoing tensions between thousands of consumers and providers over commission arrangements
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Standard Chartered announces $1.5bn share buyback after strong Q2 performance
By City AM
The bank's profit has climbed ahead of expectations in the second quarter of the year, leading it to announce its largest ever share buyback programme
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St James's Place's asset surge and strategic cost cuts lead to share price rebound
By City AM
The wealth manager reported that net inflows totalled £1.9bn in the six months to the end of June, down substantially from £3.4bn the year before, but far exceeding estimates
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New HSBC funding round supports military firm's expansion plans
West Midlands
Ammo and Company will use the package to fulfil a new contract awarded to the company by the º£½ÇÊÓƵ government
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Another deal for Knights with Thursfields buyout
Legal
North West law continues expansion with £12.5m acquisition of West Midlands practice
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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
LegalLaw firm Hugh James marks 65 year in business as it looks to further expansionThe firm which now employs 700 across the º£½ÇÊÓƵ Hugh James was founded in 1960.
Ultimate Finance reports 'record' first half and moves into larger offices
Finance
The 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
SomersetAviation textile company opens larger production facility in SomersetThe company has long-standing relationships with Boeing Defence º£½ÇÊÓƵ and Leonardo
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
Revised plans for bridge from Bristol Arena to Brabazon submitted by YTL
South West
The developers have said the bridge will help manage traffic flows on the arena's event days
Socotec expands º£½ÇÊÓƵ footprint with Scottish acquisition
East Midlands
The Burton-based provider of testing services has bought out º£½ÇÊÓƵ Testing and Certification
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
Welsh GovernmentNew £24.6m clean energy fund for North WalesThe fund has two elements supporting the voluntary and private sectors to decarbonise
Managing director of steel fabricator venture Shufflebottom stands down
Swansea Bay City Region
Alex Shufflebottom is taking on a new advisory role following the family firm's acquisition last year
Law firm Hugh James marks 65 year in business as it looks to further expansion
Legal
The firm which now employs 700 across the º£½ÇÊÓƵ Hugh James was founded in 1960.
Socotec expands º£½ÇÊÓƵ footprint with Scottish acquisition
East Midlands
The 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