Financial

Financial

Taxpayer stake in Lloyds Banking Group cut below 1%

The taxpayer’s stake in Lloyds Banking Group has been cut to below 1 per cent as the government edges closer to fully privatising the lender.

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RBS, 72% owned by the taxpayer, has made its first profit since the third quarter of 2015. Picture: John Devlin

Royal Bank of Scotland posts first profit since 2015

Royal Bank of Scotland has swung back into the black, reporting its first quarterly profit since 2015.

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Dr Colin Adams, director of commercialisation at Edinburgh Universitys school of informatics from 2006-2016

How to make your money work by investing in Scottish tech

Ahead of the 2017 Engage Invest Exploit (EIE) investor showcase at the Edinburgh International Conference Centre, three industry experts explain why the time is right to back the growing tech sector.

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The Bank of Scotland owner saw its first-quarter profits double. Picture: John Devlin

Lloyds defies ‘challenging’ market to double profit

Lloyds Banking Group has hailed a strong performance as it doubled bottom-line profits in the first three months of the year despite “challenging” trading conditions.

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Barclays received the most complaints in the second half of 2016. Picture: Alastair Grant/AP

Barclays tops table for financial service complaints

More than three million complaints were made by consumers to financial services firms in the second half of 2016, according to the City regulator.

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Royal Bank of Scotland could face a parliamentary probe.

RBS under fire over £125m cost of legal case

Royal Bank of Scotland could face a parliamentary inquiry into the spiralling legal costs of defending itself and disgraced former boss Fred Goodwin in a case brought by shareholders after being accused by MPs of “bullying tactics”.

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Developer 4J Studios, behind the Minecraft console games, has a base in Dundee. Picture: Phil Wilkinson

Martin Flanagan: Dundee’s game for the digital challenge

More evidence today that down-with-the-kids Dundee continues to leave its historical roots of jam, jute and journalism firmly in the rear-view mirror.

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The finance sector needs to take care when navigating the cloud, writes Luke Scanlon. Picture: Bertrand Langlois/AFP/Getty Images

Luke Scanlon: More clarity needed on cloud banking

Royal Bank of Scotland chief executive Ross McEwan earlier this week described RBS as “more a financial services company with good technology” than a traditional bank.

Financial
Clockwise from left: Richard Cassidy, Alastair Andrew and Andrew Bone of Edinburgh-based Airts. Picture: Stewart Attwood

AI software start-up Airts nets six-figure PwC deal

Artificial intelligence (AI) software start-up Airts has landed a six-figure contract with accounting giant PwC for its system that helps to manage the workload of employees.

Tech
Santander warned of a 'potentially more challenging' economic outlook as it revealed lower UK profits. Picture: John Stillwell/PA Wire

Santander profits fall amid plunge in Brexit-hit pound

High street lender Santander today warned of a “changeable and potentially more challenging” economic outlook amid the fallout from the Brexit-hit pound as it revealed lower first-quarter UK profits.

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The Triodos debit card will be made from a renewable alternative to plastic. Picture: Contributed

Ethical bank Triodos to launch first current account

Ethical lender Triodos today said it was opening registrations for its first personal current account in the UK.

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Lloyds said redress relating to fraud at HBOS will begin to be paid in June. Picture: David Cheskin/PA Wire

Lloyds to start compensating victims of HBOS fraud

Lloyds Banking Group is to begin making compensation offers to victims of fraud at the hands of former HBOS staff next month, and has also appointed a retired high court judge to probe its handling of the affair.

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Entrepreneurial Scotland chief Sandy Kennedy, left, with Bob Hair, head of Cazenove Capital in Edinburgh. Picture: Contributed

Cazenove gets on board with Entrepreneurial Scotland

Wealth management outfit Cazenove Capital has tied up a partnership deal with leadership organisation Entrepreneurial Scotland.

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Virgin Money, led by CEO Jayne-Anne Gadhia, insisted it was taking a cautious approach to lending. Picture: Neil Hanna

Virgin Money reveals jump in credit card balances

Challenger bank Virgin Money has said it would keep a close eye on rising consumer debt levels as its credit card balances jumped 8 per cent in the first quarter.

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State Street is moving its 800 staff from Edinburgh's Ferry Road to the Quartermile development. Picture: Contributed

Quartermile lands year’s biggest letting in Edinburgh

Financial services giant State Street is to relocate its Edinburgh operations in what is understood to be the city’s largest office letting so far this year.

Financial
Lloyds is pledging to help more start-ups and first-time exporters. Picture: Jane Barlow

Lloyds details steps to help boost business growth

Lloyds Banking Group has unveiled various pledges to boost firms across the UK as part of its 2017 Business Charter, launched today.

Financial

Deloitte to host Scotland’s first-ever ‘datathon’

Accounting giant Deloitte is to host what is being billed as Scotland’s first-ever “datathon” as part of this month’s DataFest17 festival.

Tech
Callum Sinclair, partner and head of technology at Burness Paull. Picture: Donald MacLeod

Brexit could be hurdle to Scots FinTech firms’ expansion

Brexit could negatively impact Scotland’s growing FinTech sector unless EU passporting rights are continued, an industry report has warned.

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Left to right are Colin Hewitt of Float, Eleanore Irvine of Biogelx, Steve Ewing of Informatics Ventures and Susanne Mitschke of MindMate

Who could be the next Scottish tech unicorns?

Analyst Nick Freer reflects on some Scottish tech success stories, and looks ahead to one of the biggest business networking days of 2017.

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Polly Purvis, chief executive of ScotlandIS, says the tech industry must harness current opportunities. Picture: Chris Watt

Powering up Scotland’s digital tech skills base

From video games and app development to life sciences and fintech, Scotland’s digital economy is riding something of a high.

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