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Professional Services

Barclays in talks to sell Global Investors division to BlackRock
Banking & Finance
Banking giant Barclays has confirmed that it is in talks with US giant BlackRock over the sale of its fund management arm but said it had to resolve “significant open issues” before any deal.
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HM Revenue & Customs slammed for tax debt
Banking & Finance
HM Revenue & Customs has been criticised over the way it handles tax debts after it emerged nearly a third of all tax payments are late.
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West Bromwich Building Society linked to rescue deal
Banking & Finance
West Bromwich Building Society has refused to deny speculation that Treasury advisers were on standby for a Government-backed rescue following the alleged failure of merger talks with its counterpart in Coventry.
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Interest rates slashed on top-paying ISAs
Banking & Finance
A flurry of banks and building societies have withdrawn their top-paying tax-free ISA accounts during the past week.
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Slump predicted in high rate taxpayer numbers
Banking & Finance
The number of higher rate taxpayers is forecast to plummet by 24 per cent by 2010 – five times more than during the 1990/91 recession.
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City watchdog to impose rules on mutuals' riskier ventures
Banking & Finance
The City watchdog has launched a new crackdown on building societies branching into riskier business.
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Regulation for sale-and-rent-back schemes to start
Banking & Finance
All companies offering controversial sale-and-rent- back schemes will have to be authorised by the City watchdog from July.
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Only four lenders below eight per cent mark
Banking & Finance
Despite the plunge in interest rates since October 2008 as the Bank of England has battled to head off recession, only four lenders offer an APR of less than eight per cent on unsecured loans on £5,000-15,000, says Sainsbury’s Bank, which finds the average rate currently running at 10.14 per cent.
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Rate Matcher deal to attract new customers
Banking & Finance
HSBC has announced it is relaunching its Rate Matcher deal under which it will offer mortgages with interest rates as low as 2.49 per cent.
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Employers using recession to cut pensions - Unite
Banking & Finance
The joint leader of the country’s biggest trade union has accused employers of using the recession as an excuse to permanently cut pensions.
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Cold water poured on Begbies Traynor recovery hopes
Professional Services
Insolvency specialist Begbies Traynor has poured cold water on recovery hopes by predicting increased workloads “for several years to come”.
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House prices rise by 2.6pc in May
Banking & Finance
House prices as measured by Halifax rose by 2.6 per cent between April and May – the biggest month-on-month jump since the boom days of October, 2002.
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Midland businesses concerned at shortage of lending
Banking & Finance
Worries that the Bank of England’s £125billion “quantitative easing” is not feeding through to West Midlands businesses were the main concern after the Bank of England said it needed two more months to complete the programme.
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Kalamazoo and UEF pensioners strip in protest at Downing Street
Banking & Finance
Midland workers who lost their savings in Britain’s worst pensions scandal have added to Gordon Brown’s woes by stripping to their underwear in a protest march on Downing Street.
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Birmingham businesses expect no change in interest rates
Banking & Finance
Business leaders in the West Midlands expected interest rates to be held today as the Bank of England focuses on its programme to kick-start the economy with injections of new money.
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Lloyds Bank to axe 30 jobs in Birmingham
Banking & Finance
About 30 people at Lloyds Banking Group in Birmingham were set to lose their jobs yesterday in the latest round of redundancies in the financial sector.
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Shipston pottery firm scoops major overseas order
Banking & Finance
A traditional pottery business nestled in the South Warwickshire countryside is growing its order book on the other side of the world after landing a major new order.
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Aviva policyholders to vote on £400m pay-out offer
Banking & Finance
Insurance giant Aviva has begun mailing voting packs on its proposed £400 million pay-out offer to policyholders.
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Birmingham tax expert examines football stars' 50p tax woes
Banking & Finance
A senior tax expert says Premier League football stars are planning to avoid the 50p tax rate by being paid in interest free loans.
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Pound see-saws as dollar support emerges
Banking & Finance
Sterling see-sawed against the dollar yesterday after reaching a seven-month high as the stock market greeted evidence pointing to an early end of the recession with a fall of 93 points on the Footsie.
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Birmingham courts to be test case for new costs rules
Professional Services
Birmingham has been chosen to act as a test case for planned radical reforms to the civil justice system.
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DLA Piper cuts intake of newly-qualified lawyers
Professional Services
DLA Piper is believed to be the latest law firm to cut back on its trainee intake as the recession makes it harder to balance budgets.
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PricewaterhouseCoopers in pension deficits alert
Banking & Finance
Companies need to be proactive in tackling growing pension deficits, according to experts at PricewaterhouseCoopers in the Midlands
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Defence firm QinetiQ sells subsidiaries
Banking & Finance
Defence firm QinetiQ – which has a major site in Malvern, Worcestershire – has sold two of its subsidiaries, bringing in millions to the company’s coffers.
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