HSBC to pay £4m over ‘unreasonable’ debt collection

HSBC has agreed to stump up £4 million to pay back customers subjected to “unreasonable” debt collection practices following a regulatory probe.

Martin Flanagan believes other banks will follow HSBC in shipping significant numbers of workers to the EU following Theresa May's 'hard Brexit'. Picture: Ben Stansall/AFP/Getty Images

Martin Flanagan: Others set to follow HSBC in EU migration

The problem with second-guessing bankers is that conscious inscrutability is in the DNA.

Financial 11
Aviva chief Mark Wilson insisted the group was 'growing in the UK'. Picture: Contributed

Aviva merges UK insurance operations in new shake-up

Life and pensions heavyweight Aviva is bringing together its UK life and general insurance businesses in a shake-up that also sees the departure of its European boss.

79 Clydesdale and Yorkshire Bank branches are set to close. Picture: Ian Georgeson

Clydesdale reveals list of 40 Scottish branches set to close

The owner of Clydesdale Bank has published a list of 40 Scottish branches which are to be axed.

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FreeAgent, led by chief executive Ed Molyneux, is to offer its services to small business customers of RBS and NatWest. Picture: Contributed

FreeAgent inks accounting software tie-up with RBS

FreeAgent, the Edinburgh-based accounting software specialist, has fought off competition from more than 30 rivals to land a deal with Royal Bank of Scotland.

Airdrie Savings Bank. Picture: Alan Watson

Airdrie Savings Bank to close its doors with 70 jobs lost

Airdrie Savings Bank, the last survivor of Britain’s independent savings banks, is to close.

News 11
Royal Bank of Scotland's Gogarburn HQ will host the Boost launch event on Thursday. Picture: Greg Macvean

RBS aims to help small firms build more connections

Royal Bank of Scotland will this week kick off a new initiative aimed at boosting growth among small businesses.

Lord Smith of Kelvin urged Alliance Trust shareholders to approve its new investment approach. Picture: Neil Hanna

Alliance Trust reveals list of new investment managers

Wealth manager Alliance Trust has revealed the eight equity managers chosen to oversee its new investment strategy.

Financial 2
'Some selective profit-taking may now be in order,' writes Bill Jamieson. Picture: Picture: Sang Tan/AP

Bill Jamieson: Time to cash in after the market surge?

After the stock market surge of recent weeks, who is not tempted to lock in some gains and cash in?

Financial 4
Chancellor Philip Hammond said Funding Circle was a 'real success story' in the fintech sector. Picture: Neil Hanna

Chancellor hails £82m ‘vote of confidence’ in Funding Circle

A group of investors has pumped $100 million (£82m) into peer-to-peer business lending platform Funding Circle, a move which the Government has said is a “vote of confidence” for the firm.

Financial 1
LendingCrowd chief Stuart Lunn said the ISA would be one of the first in the peer-to-peer sector. Picture: Contributed

LendingCrowd launches first tax-free savings account

Alternative finance firm LendingCrowd is planning to launch its own ISA within weeks on the back of a record year.

Aberdeen City Council leader Jenny Laing performing the market open ceremony at the London Stock Exchange. Picture: Contributed

Martin Flanagan: Aberdeen opens the London stock market

Aberdeen City Council’s senior echelon had the honour of opening the London stock market at the London Stock Exchange yesterday – recognition of the authority’s groundbreaking use of the bond markets, at least north of the Border, to fund a major infrastructure programme.

Financial 4
Xavier Rolet, chief executive of the London Stock Exchange, gives evidence to the Commons treasury committee on the impact of Brexit. Picture: PA Wire

Brexit: Warning of 232,000 finance sector job losses

The UK’s powerhouse financial sector would face heightened risk and an exodus of 232,000 jobs without certainty over Britain’s Brexit deal, MPs have heard.

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London Stock Exchange boss Xavier Rolet faces a grilling from the Treasury select committee. Picture: Jayne Emsley

Martin Flanagan: City bigwigs prepare for grilling by MPs

As we know, “experts” are much out of fashion, even if, as I suspect, the pendulum has swung too far the other way from slavish respect to kneejerk dismissiveness.

Financial 2
The UK government is no longer the largest shareholder in Bank of Scotland's parent group. Picture: John Devlin

Taxpayer is no longer biggest shareholder in Lloyds

The UK government has cut its stake in Lloyds Banking Group to less than 6 per cent, meaning the taxpayer is no longer the lender’s largest shareholder and moving it closer to returning to private hands.

Financial 2
Graeme Allan trained at PwC in Edinburgh, joining Stephen Hay & Associates as a senior manager before taking up a partnership at Aberdeen-based AAB in 2007. Picture: Contributed

Monday interview: Graeme Allan of Anderson Anderson & Brown

After one of its busiest years ever, Anderson Anderson & Brown (AAB) is not resting on its laurels.

The FTSE 100 closed above 7,200 for the first time ever last week. Picture: Daniel Leal-Olivas/AFP/Getty Images

Bill Jamieson: Time for investors to take stock of gains

Political trends, we are now told with all the light bulb excitement of a eureka moment, are governed more by our feelings and emotions than thoughtful reflection of facts and statistics.

Markets Economy
Scottish Investment Trust has reduced the number of holdings under its 'global contrarian' approach. Picture: Daniel Leal-Olivas/AFP/Getty Images

Bumper year for Scottish Investment Trust investors

A change in stock-picking strategy and the falling pound has helped the £750 million Scottish Investment Trust (SIT) post bumper annual results.

From left: John Hannah, Martin Dalgarno and Alan Masson of SBP. Picture: Contributed

North-east accountant SBP books jump in revenues

North-east accountancy firm SBP Accountants & Tax Advisers has posted record turnover of £2.5 million on the back of new business wins and client retention.

The new �1 coin. Image: The Royal Mint

Five things you need to know about the new £1 coin

The Royal Mint is preparing to launch a new £1 coin, set to enter circulation in early 2017.

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