News

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.

James Moore: Here we go again... mea culpa will be part tragedy, part farce

It's like handing over the World Cup final to the bloke who referees pub football

Decision nears on Lloyds branches

Lloyds is in the final stages of reviewing offers from NBNK and the Co-Op for around 630 of its branches. The part-nationalised bank is expected to hold a board meeting on Thursday to discuss a final decision over the branch sell-off, which has been code-named Project Verde.

Branson's blueprint to revive British economy

Virgin boss urges action to get young people into work and create growth

David Cameron: ‘If we weren’t in the EU, helping write the rules, they would be written without us’

Steve Richards: Cameron and Osborne's learning on the job is beginning to show

Although avid and admiring students of the New Labour project, David Cameron and George Osborne are not having the same success in projecting an equivalent for their party. Increasingly they seem overwhelmed by events, the scale of which would test much more experienced politicians than the youthful duo who are still finding their way at the very top.

Virgin Money faces uphill struggle, city warns

Virgin Money faces an uphill struggle to make a meaningful impact on British banking, despite buying Northern Rock for a knockdown £747m and earmarking a possible flotation for as soon as 2014, City analysts warned yesterday.

City tells Virgin to expect tough fight from big banks

Fledgling bank's market share will be small even after buying state-owned lender, analysts warn

Charles Middleton: 'Yes, I'm a banker who really cares...'

It's not hard to run a bank on ethical principles, the boss of Triodos UK tells Sean Farrell

Lenders cut rates in home loan price war

A mortgage price war has been building in the past few weeks as lenders slash the cost of borrowing in a frenzied attempt to attract business. Yesterday Northern Rock cut up to 0.9 per cent off its fixed rate mortgages. Today it is the turn of the Coventry building society as it launches a market-leading 3.49 per cent five-year fixed rate.

Northern Rock sale to come up £400m short

Ron Sandler, the chairman of Northern Rock, urged taxpayers to look at the bigger picture yesterday as it became increasingly apparent that, when it is sold, the nationalised lender will fetch far less than the £1.4bn of government capital injected into it.

David Prosser: Mutuality isn't such a hard place for Northern Rock

Outlook In the wake of the credit crisis, it is rather too easy to fall into the trap of judging banks bad and building societies good. While the mutual sector had a good war – particularly compared with the former mutuals that blew up during the crisis – the building-society movement was not without its own casualties.

Northern Rock reports reduced half-year losses

Nationalised lender Northern Rock said it expects to make a profit during next year after reporting reduced half-year losses today.

Rock pays £1bn back to state

The "bad bank" that runs Northern Rock Asset Management (NRAM) and the rump of Bradford & Bingley has paid back another £1bn to the Government.

State-owned bank repays £1bn

The state-owned company that runs Northern Rock Asset Management (NRAM) and Bradford & Bingley today said it had paid back another £1 billion to the government.

Business Diary: Facebook job just a walk in the woods

Are you hopeful of securing a job with Facebook, the social networking giant?

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