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UK government completes privatisation of Royal Mail

The government has sold its final stake in British postal service company Royal mail at GBP4.55 per share, to raise GBP591m, it was reported on Tuesday. Privatisation of Royal Mail was initiated in … Continue reading “UK government completes privatisation of Royal Mail”


Financial Ombudsman Service reveals 8% increase in complaints relating to UK financial service providers

The UK’s Financial Ombudsman Service has published its latest figures on complaints about banks, insurers and other financial businesses over first half of 2015, which show an overall increase of 8% on the previous … Continue reading “Financial Ombudsman Service reveals 8% increase in complaints relating to UK financial service providers”


Legacy issues continue to challenge Co-operative Bank ‘s recovery

Retail banking company the Co-operative Bank, which almost collapsed in 2013 following the discovery of a black hole in its accounts, has revealed that it does not expect to make a profit for … Continue reading “Legacy issues continue to challenge Co-operative Bank ‘s recovery”


Olympic Legacy Budget helps to fund £2.3m London Professional Apprenticeship programme

A new apprenticeships programme in London’s professional services sector is to receive a total of GBP2.3m in funding, comprised of GBP1.4m from the Olympic Legacy Budget and GBP900,000 from professional services firm PricewaterhouseCoopers LLP … Continue reading “Olympic Legacy Budget helps to fund £2.3m London Professional Apprenticeship programme”


EC issues fines totalling EUR1.7bn to eight banks for rigging financial benchmarks

Banks involved in a financial cartel that colluded to fix crucial benchmark rates have been levied with fines that total EUR1.7bn by the European Commission, it was reported on Wednesday. These benchmarks included … Continue reading “EC issues fines totalling EUR1.7bn to eight banks for rigging financial benchmarks”


HM Treasury announces publication of RBS Bad Bank Review

Banking and financial services company RBS Group is determined to become an asset, rather than a burden, to the UK economy, according to a statement released from HM Treasury, in which it announced … Continue reading “HM Treasury announces publication of RBS Bad Bank Review”


UK digital sports group Perform raises £120m for acquisitions

UK digital sports media company Perform Group Plc (LON:PER) announced today it will raise around GBP120m (USD183m/EUR141m) via a private placement to fund its planned purchase of Opta Sports Data Ltd and some … Continue reading “UK digital sports group Perform raises £120m for acquisitions”


Cases of serious tax evasion cases in the UK fall to lowest level in five years

Law firm Pinsent Masons reported today that cases of serious tax evasion in the UK, as established by HM Revenue & Customs (HMRC) has dropped by 16% over the past year to the … Continue reading “Cases of serious tax evasion cases in the UK fall to lowest level in five years”


Swiss private bank UBP acquires Lloyds’ international private banking arm for £100m

Swiss private bank Union Bancaire Privee UBP SA has agreed to take over UK Lloyds Banking Group plc’s (LON:LLOY) international private banking arm for up to GBP100m (USD151.7m/EUR117m) in cash, the companies said … Continue reading “Swiss private bank UBP acquires Lloyds’ international private banking arm for £100m”


Lloyds to bank £325m from sale of commercial property loans

UK Lloyds Banking Group plc (LON:LLOY) said Friday it had inked an accord to divest a portfolio of UK commercial real estate loans to Promontoria Thames Ltd for GBP325m (USD501.2m/EUR384.6m) in cash. The … Continue reading “Lloyds to bank £325m from sale of commercial property loans”


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