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Professional Services

Metro Bank sells off £584m personal loan book as it switches to specialist lending
By City AM
Metro Bank today confirmed it will sell its £584m portfolio of unsecured personal loans as the lender moves its focus to specialist lending
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Yorkshire Building Society profits squeezed by falling interest rates
Company Results
The mutual said the º£½ÇÊÓƵ economic outlook is "relatively benign" in the short term
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Rathbones ahead of expectations as Investec merger progresses
By City AM
The wealth manager posted a 35 per cent increase in operating income to £895.9m, beating analyst expectations, as the firm progressed with its merger of Investec Wealth and Investment (IW&I)
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International Personal Finance reports record profits and plans for future growth
By City AM
The consumer credit provider reported full-year profit before tax of £85.2 million, beating analysts' consensus range of £78 million to £82 million
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Skipton Building Society grows mortgage lending as profits dip
Finance
Group chief executive Stuart Haire said 2024 had been commercially successful and the society was focussed on helping home buyers
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Barclays shares could be set for 18% rise after profit beat, experts say
By City AM
The FTSE 100 lender booked a profit before tax of £8.1bn in 2024, ahead of the £8.07bn estimated, while Barclays shares slumped as much as five per cent in the aftermath of results
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Principality Building Society post a fall in pre-tax profit but with total assets now exceeding £14bn
Finance
The Cardiff headquartered mutual has reaffirmed its commitment to having a strong high street presence
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North West law firm Harrison Drury completes management buyout
Deals
It has been acquired by six members of its management team in a move that retains its independent ownership
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BNP Paribas Personal Finance launches new º£½ÇÊÓƵ head office
West Midlands
Firm has relocated its team across Solihull to a new base
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Bank of England Governor Andrew Bailey committed to cash and take on AI
Bank Of England
Mr Bailey said cash remains an important budgeting tool
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Natwest Boxed partners with The AA for new savings account launch
By City AM
Natwest Boxed, the bank's financial services platform, has partnered with The AA for the launch of an instant savings account
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People on the move: North East appointments and promotions of the week
Appointments
Companies welcoming new arrivals and making promotions this week include UNW, Azets, SPG Resourcing, Muckle LLP, Tekmar Group and the Alnwick Garden
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Rachel Reeves faces tough decisions as º£½ÇÊÓƵ borrowing soars, tax hikes and spending cuts loom
By City AM
The latest public finance figures showed the tax receipts undershot expectations in January due to the sluggish performance of the º£½ÇÊÓƵ economy
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º£½ÇÊÓƵ government borrowing hits fourth highest level on record in blow for Rachel Reeves
The Budget
The government recorded a monthly surplus of £15.4bn in January, according to figures from the Office for National Statistics, but this was £5.1bn short of the £20.5bn surplus anticipated by the Office for Budget Responsibility
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Standard Chartered shares jump as bank unveils profit, dividend hike and overhaul
By City AM
Standard Chartered shares jumped over four per cent Friday morning after the lender posted its full-year results.
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Major banks including HSBC and Morgan Stanley fined for 'anti-competitive behaviour'
By City AM
The Competition and Markets Authority (CMA) has handed out fines to the banks, as well as Royal Bank of Canada, after traders shared market sensitive information about gilts in chatrooms
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London Stock Exchange Group sees upgrade by RBC ahead of results
By City AM
The bourse has seen its share price rise more than 30 per cent in the last 12 months
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Global professional services firm Aon retained by £2.5bn Clwyd Pension Fund
Professional Services
The fund has more than 50,000 members
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Lloyds Bank profits tumble 20% as it warns of 'immediate challenges' - but shares climb
By City AM
The FTSE 100 lender's pre-tax profit was down 20 per cent at £6bn, compared to £7.5bn in 2023, but shares jumped following market open
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TDR Capital to refinance education provider BPP after £2.5bn sale fails
By City AM
TDR Capital is preparing to refinance BPP Holdings, the provider of professional and academic education, after failing to sell the educational training institution
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Chase º£½ÇÊÓƵ beats Monzo and Starling to be named best bank in Britain for first time
By City AM
A survey of current account customers found that digital bank Chase º£½ÇÊÓƵ was the top-rated consumer bank in Britain, with 81 per cent overall customer satisfaction
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HSBC shares slump after profit beats expectations
By City AM
The FTSE 100 lender published its first set of results with Georges Elhedery at the helm this morning, covering the fourth quarter and full-year 2024
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Bank of England still likely to cut rates despite surging wages, says Bailey
By City AM
Andrew Bailey said the Bank of England was likely still on track to cut interest rates again this year despite surging pay growth and an anticipated increase in inflation.
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HSBC shares hit 20-year high ahead of results as bank 'to start job cuts this week'
By City AM
The bank's share price hit 894.70p immediately after the market opened, which was its highest level since 2001
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DealsDevelopment Bank of Wales exit from Freight Logistics SolutionsThe development had made a £2.2m equity investment in the logistics firm four years ago
DealsDevelopment Bank of Wales exit from Freight Logistics SolutionsThe development had made a £2.2m equity investment in the logistics firm four years ago
The 5 º£½ÇÊÓƵ fintechs with the most customer complaints named - full list
By City AM
Revolut and Monzo customers proved to be the most disgruntled customers in the second half of last year, according to the Financial Ombudsman Service (FOS)
Law firm Tilly, Bailey & Irvine expands into Sunderland with acquisition of 15-strong practice
Deals
The move adds to Tilly, Bailey & Irvine's bases in Stockton, Wynyard and Barnard Castle
Lloyd's of London appoints new CEO as John Neal successor named
By City AM
Patrick Tiernan has been appointed as the new CEO of Lloyd's of London, with current chief John Neal set to step down at the end of May
London-based Metro Bank sees share price lift following positive Q1 financial update
By City AM
Metro Bank said profits had increased significantly in the first quarter of 2025 as the embattled lender's turnaround gathers pace
property newsHome Bargains owner's property push continues with 200-home development plan near £100m stationThe proposals would see a 13-storey residential-led mixed use scheme developed in Liverpool's Baltic Triangle
Call for ‘new industrial strategy’ to help North and Midlands firms grow exports and close gap with London
Exports
Airports group MAG and the Growing Together Alliance launch º£½ÇÊÓƵ Trade Barometer
Multimillion-pound job creating expansion set for County Durham food producer Moguntia
Food and Drink
The family group celebrates its 122th anniversary this month and is confident its products have reached the majority of º£½ÇÊÓƵ households
Large building supplies depot shuts with potential job losses
Employment
The Plymouth branch of RGB Building Supplies has ceased trading
People on the move: key North East appointments and promotions
People
Companies featuring in this week's round-up include: Hill Dickinson, The Digital Lighthouse, Novus Property Solutions, Kromek and High Force Research
North West'Transformational change' planned for town as it hopes to benefit from East Manchester regenerationDroylsden is the only Tameside town on the inside of the M60, meaning it is the closest geographically to Manchester.
Greater Birmingham Chambers announces interim leadership team
West Midlands
Duo will take over the running of business body until next year while CEO is on maternity leave
Call for ‘new industrial strategy’ to help North and Midlands firms grow exports and close gap with London
Exports
Airports group MAG and the Growing Together Alliance launch º£½ÇÊÓƵ Trade Barometer
Home Bargains owner's property push continues with 200-home development plan near £100m station
property news
The proposals would see a 13-storey residential-led mixed use scheme developed in Liverpool's Baltic Triangle
Government leads £1bn investment into 1,000-job factory in Sunderland
Automotive
Recruitment is to start next week on a 1,000-job expansion of the AESC battery plant in Sunderland after a Government-led investment of £1bn