Lloyds and Barclays poised to reveal impact of Brexit vote

Early evidence of the impact of Brexit on the UK banking sector will be revealed this week when Lloyds and Barclays deliver half-year results.

Alliance Trust chairman Lord Smith of Kelvin. Picture: Neil Hanna

Alliance making ‘good progress’ with strategic review

Dundee wealth manager Alliance Trust today said it will reveal the outcome of a strategic review, aimed at boosting shareholder value, within months.

Analysis reveals that a total of 180,000 square feet was let in the city centre following a large number of lease renewals  a result that was in line with a year earlier. Picture: TSPL

Edinburgh office market rides out referendum storm

Edinburgh’s office market enjoyed a solid second quarter with a string of new lettings, new research reveals, but property experts have cautioned over the potential impact of Brexit on future activity levels.

The part-state owned lender is one of 18 banks behind VocaLink, which is being sold to Mastercard in a deal worth up to �869m. Picture: TSPL

RBS to bank £150m on sale of VocaLink to Mastercard

ROYAL Bank of Scotland stands to pocket at least £150 million after the sale of the payments and cashpoint processing giant that it co-owns.

RBS has a 21.4% stake in VocaLink. Picture: Ian Rutherford

Mastercard buys payments group VocaLink in £869m deal

Payments and cashpoint giant VocaLink is being sold to Mastercard in a deal worth up to £869 million.

LendingCrowd chief executive Stuart Lunn. Picture: Contributed

Stuart Lunn: The developing market for SME finance

Two days before the UK’s EU referendum on 23 June, a significant announcement was made by one of the world’s leading peer-to-peer lenders.

TSB flagged the impact of lower interest rates and higher IT costs. Picture: Ian Rutherford

TSB warns over rates pressure despite profit boost

High street lender TSB today warned that profits will come under pressure as rock bottom interest rates and soaring IT costs are set to weigh on the group.

Financial 1
Picture: Robert Perry

Clydesdale staff bank on redesigned uniform

Marking a new standalone chapter for Clydesdale and Yorkshire banks but incorporating their history is the aim of new staff uniforms created in a collaboration between a Glasgow designer and a Yorkshire mill.

RBS hopes the loans will help small firms 'think about growth'. Picture: John Devlin

RBS launches £100m fund for small business lending

Small businesses north of the Border are being targeted by a new £100 million fund launched today by Royal Bank of Scotland.

Financial 1
Governor of the Bank of England, Mark Carney. Picture: PA

Bill Jamieson: A time to take care & beware curse of August

After a momentous summer for news, who dared switch off the mobile phone or wander far from a radio as events threatened to outpace the ability of pundits and commentators to keep up with them?

Holiday Inn owner paid out a large special dividend. Picture: Steven Scott Taylor

Weak pound to provide dividend delight for shareholders

The slump in the value of the pound in the wake of the EU vote will herald a dividend bonanza for many shareholders – at least in the short term.

Markets Economy
The Bank of England (BOE) in London. Picture: AFP/Getty Images

Between the lines: Banks in lead on accessibility

Last month, the Bank of England revealed the imminent introduction of its accessible bank notes, which incorporate tactile features to allow blind and partially sighted people to distinguish between denominations – developed with advice from RNIB.

Many older people plan to live off the proceeds of selling a family home and moving to a smaller one. Picture: Feverpitched

Millions risk downsizing nightmare of retirement poverty

Pensioners who plan to use the value of their home to fund their retirement instead of a pension can expect a slump in their standard of living, a report has warned.

Personal Finance
Bank of Scotland said it was working to resolve the online banking glitch. Picture: John Devlin

Bank of Scotland customers hit by online glitch

Customers of Bank of Scotland were affected today by a glitch that left them unable to log into its online banking system.

AAM chief executive Martin Gilbert warned of further volatility ahead.
Picture: TSPL

Aberdeen lifts suspension on property fund trading

ABERDEEN Asset Management (AAM) yesterday lifted a week-long suspension from trading in its property fund, a move that had been triggered by the outcome of the EU referendum.

Paul Allan, mortgage and protection adviser for Exchange Mortgages. Picture: Neil Hanna

Edinburgh mortgage adviser Exchange opens for business

A new “impartial mortgage advice and lending service” aimed at helping home-buyers from start to finish has been launched in Edinburgh.

Mark Carney and the MPC meet on Thursday

Bank of England likely to press button on lower rates

The odds have narrowed sharply on the Bank of England (BoE) cutting interest rates this week from their already historic lows, or injecting other stimulus into the slowing economy, following last month’s Brexit vote and its aftermath.

Markets Economy 1
Karen Briggs becomes 'head of Brexit' at KPMG. Picture: Contributed

KPMG appoints ‘head of Brexit’ to help clients adapt

Accountancy giant KPMG has appointed a “head of Brexit” to supplement its executive leadership team in the wake of last month’s historic vote.

Financial 2
Kerrigan Procter, managing director of Legal & General Retirement. Picture: Contributed

L&G shrugs off Brexit with bumper annuities performance

Insurer Legal & General brushed off Brexit concerns today, revealing that its retirement arm sold £3.6 billion of bulk annuities in the first half of the year.

Ally Scott is joining EY after 11 years at Barclays. Picture: Chris Watt

Deal maker Ally Scott moves from Barclays to EY Scotland

One of Scotland’s top deal makers is to join EY as partner to lead and expand its corporate finance team.

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