Financial

Financial

Criminals take six seconds to guess Visa card number and pin

Criminals can work out the card number, expiry date and security code for a Visa debit or credit card in as little as six seconds using guesswork, researchers have found.

Retail
RBS Gilmerton is one branch set to close. Picture: Greg Macvean

RBS to close half its Edinburgh branches

ROYAL Bank of Scotland is to close half its Edinburgh branches in the latest round of cost-cutting - with more misery to come.

News 61
The FCA said its new rules will make it easier for savers to compare and switch accounts. Picture: Phil Wilkinson

New rules on interest rates aim to help savers

Today sees new rules take effect that will force banks to provide clearer information on interest rates for savers.

Financial
Brewin Dolphin said the uncertain landscape was driving demand for wealth advice. Picture: John Devlin

Wealth firm Brewin upbeat as clients seek timely advice

The head of Brewin Dolphin has said that economic uncertainty is helping to drive organic growth at the wealth management firm as savers increasingly seek advice in unsettled times.

Financial
As well as failing the BoE stress test, RBS faces hefty fines in the US. Picture: John Devlin

Martin Flanagan: RBS faces bumpy road to recovery

Royal Bank of Scotland is in financial straits again. Well, knock me over with a core capital ratio.

Financial 1
RBS admitted it has 'more to do' in restoring its financial strength. Picture: John Devlin

More cuts loom as RBS fails Bank of England stress test

Royal Bank of Scotland is to embark on fresh cost-cutting after failing a health check of Britain’s banking sector.

Financial 21
Hampden & Co chief executive Graeme Hartop said the deal marks a "significant business opportunity" for the bank. Picture: Contributed

Private bank Hampden & Co wins 'significant' Lloyd’s deal

Edinburgh-based private bank Hampden & Co said it has attracted £80 million of balances after securing a “significant” deal to take charge of the banking business of more than 1,200 members of Lloyd’s insurance market.

Financial
The team at Bruce Stevenson will offer a range of services to HIT Scotland. Picture: Cate Gillon

Bruce Stevenson brokers hospitality charity sponsorship

Insurance broker Bruce Stevenson is sponsoring an initiative aimed at nurturing talent across Scotland’s hospitality sector.

Financial
Al Rayan Bank already has about 2,000 customers in Scotland. Picture: John Devlin

First Islamic bank, Al Rayan, opens in Scotland

The first wholly Sharia law compliant retail bank in Scotland has opened for business with a branch in Glasgow.

Financial 21
Aberdeen Asset Management said Donald Trump's presidency will contribute to ongoing market volatility. Picture: Evan Vucci/AP

Aberdeen warns of ongoing market volatility as profits drop

Aberdeen Asset Management today warned that Brexit negotiations and the start of Donald Trump’s term as US president will contribute to “ongoing volatility in global markets in the short term”.

Financial
RBS was a major victim of the crisis of 2008. Picture: John Devlin

Cat MacLean: Bank’s apology not enough to restore faith

Scotland has done much to encourage its entrepreneurial culture. More Scots are considering setting up their own businesses and our rate of start-ups has been lauded. We now have many glittering business events, sponsored by our banks, that hand out awards to smart young companies. But what happens when things do not go according to the business plan?

Opinion
Peter Griffiths, Sainsburys Bank chief executive, and Councillor Lesley Laird. Picture: Donald MacLeod

Sainsbury’s Bank opens Fife call centre

Sainsbury's Bank has opened a customer-service call centre at Caledonia House in Rosyth, with the 21,000-square-foot site on Innova Campus marking its first dedicated call centre.
Financial
Clydesdale's owner wants to 'disrupt the status quo' in the UK banking market. Picture: Maurice McDonald/PA

Clydesdale set to ‘shake up’ rivals after profits jump

Banking group CYBG, behind the Clydesdale and Yorkshire high street brands, has delivered its first annual pre-tax profit in five years in a strong start to life as an independent business.

Financial
Lloyds sells another 1% of taxpayer stake. Picture: PA

Taxpayer stake in Lloyds Banking Group cut by 1%

The government today shaved the taxpayer stake in Lloyds Banking Group by 1 per cent to less than 8 per cent following a share sale – having been 43 per cent at its peak after the lender’s £20 billion state bailout in the financial crash.

Financial
The FCA said investors should be offered an 'all-in-fee' to make charges clearer. Picture: Daniel Leal-Olivas/AFP/Getty Images

City watchdog proposes shake-up for fund management

The UK’s financial watchdog has outlined a major shake-up for the fund management industry to ensure investors get a good return in an era of low-interest rates.

Financial 4
Stuart Lunn, co-founder and chief executive of Edinburgh-based LendingCrowd. Picture: Contributed

LendingCrowd and Scottish Enterprise talk SME lending

Alternative finance provider LendingCrowd is teaming up with Scottish Enterprise in an effort to raise awareness of “peer-to-peer” (P2P) business lending.

Financial
Nationwide's profits were hit after it passed on the base rate cut to mortgage customers. Picture: Greg Macvean

Nationwide profits dented by interest rate cut

Nationwide has seen profits slip 13 per cent as it grapples with low interest rates and its decision to pass on the base rate cut to its members.

Financial
SIS chief executive Alastair Davis (left) and chairman Nick Kuenssberg. Picture: Contributed

SIS marks anniversary with six new patrons

Social Investment Scotland (SIS), the third sector lending specialist, has named six new patrons including Lady Susan Rice and former politician Wendy Alexander.

Companies
WL Ross has sold all its remaining shares in Virgin Money. Picture: Rui Vieira/PA Wire

Virgin Money investor WL Ross sells stake for £171.5m

American billionaire Wilbur Ross has offloaded his remaining stake in lender Virgin Money for £171.5 million.

Financial 1
Lidl said it worked closely with Black Wolf to create its Belheather Whisky Beer. Picture: Contributed

Business briefs: Black Wolf | Aberdeen | Barratt

Lidl has struck a six-­figure deal with Stirling’s Black Wolf Brewery that will see a whisky beer added to the list of products sold under the chain’s Belheather range throughout its 92 Scottish stores.

Retail
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