Goldman Sachs’ private equity arm is set to announce a £150m investment in insurance group Hastings Direct that will leave chairman Neil Utley cashing in tens of millions of pounds from the business he turned around after buying it in 2008.
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Monday 05 August 2013
96% of current renters still ‘dream of owning a home someday’
Thursday 11 July 2013
Britain's leading companies hiked their marketing budgets in the last three months at the fastest rate in almost six years, boosting hopes that the economy is on the mend.
Thursday 06 June 2013
Outlook The Co-operative Group appears to have woken up to the challenge its banking arm faces, announcing more high-profile hires yesterday. It has brought in Richard Pennycock from Morrison's as finance director and Richard Pym, the former boss of Alliance & Leicester, to chair its bank.
Sunday 10 March 2013
One of Europe's highest-profile fund managers caught in Italy
Wednesday 06 March 2013
Outlook Something up with Libor, you say? Sorry guv, not my problem, speak to the British Bankers' Association. This, in a nutshell, was the attitude of the Financial Services Authority when the issue was raised with it on 26 separate occasions, and perhaps as many as 74 where there were oblique or indirect references to the problem in FSA communications.
Friday 16 November 2012
Taxpayers are unlikely to ever recoup the £66bn spent saving Royal Bank of Scotland and Lloyds Banking Group from collapse, a committee of MPs has warned.
Thursday 25 October 2012
Next month is the fifth anniversary of HSBC releasing a trading statement that on the face of it looked fairly innocuous, but which contained this statement: "Deterioration in US housing markets is affecting consumer finance credit quality more broadly than hitherto and loan impairment charges are expected to remain high in these conditions. There is the probability of further deterioration if the current housing market distress continues and further impacts the broader economy."
Wednesday 13 June 2012
The outgoing head of the financial services regulator claimed today that the run on Northern Rock could have been avoided if his advice had been taken to help Lloyds TSB take over the ailing bank.
Wednesday 29 February 2012
UKFI said the sale to Virgin provided the most attractive outcome in terms of new competition in the UK banking sector
Tuesday 28 February 2012
Northern Rock's period of public ownership should generate a profit of up to £11 billion for the taxpayer over the next 10 to 15 years, the body responsible for the Government's bank investments said today.
Wednesday 01 February 2012
Ravi Sinha, the former boss of private-equity giant JC Flowers in the UK, has been fined £2.86m and banned from working in any kind of financial services business for life.
Saturday 07 January 2012
Wednesday 04 January 2012
Newcastle have secured a new two-year shirt sponsorship deal with Virgin Money.
Sunday 01 January 2012
Surely, if we learnt anything from the "loans for peerages" story, which this newspaper helped to break six years ago, it was that party funding should be kept away from the honours system. Yet the New Year Honours list tries again to push that water back uphill.
Wednesday 14 December 2011
Lloyds Banking Group today named the Co-operative as its preferred choice to buy the 632 branches it is selling under European competition rules.
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