Financial

Financial

Tesco Bank jobs at risk under Edinburgh office move

Tesco Bank today announced plans to close its offices next to Edinburgh’s Haymarket railway station in a move that will affect 600 employees.

Financial
The University of Dundee has more than 17,000 students. Picture: Jane Barlow

Dundee University secures £40m financing facility

The University of Dundee has secured a £40 million financing facility to help bank-roll its business transformation programme.

Financial
Steve Williams, Deloitte's senior partner for Scotland and Northern Ireland. Picture: Chris Watt

Profit payouts on the rise as Deloitte revenues leap

Deloitte today hailed a strong contribution from its Scottish practice as the Big Four accountancy and advisory firm unveiled a double-digit hike in revenues.

Financial 3
Icas chief executive Anton Colella said the freedom to hire people across Europe must be a 'crucial' part of Brexit talks. Picture: Contributed

Finance chiefs downbeat in wake of Brexit vote

Economic confidence has suffered a body blow following the decision to quit the European Union, according to a new survey of Britain’s finance bosses.

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Monzo chief executive Tom Blomfield says major lenders face being swept away by new technology. Picture: Monzo/PA Wire

Challenger bank says rivals ‘face ruin’ from tech

The boss of challenger bank Monzo has warned that major banks face ruin as they are swept away by new technology.

Financial 3
SIS chairman Nick Kuenssberg. Picture: Ian Rutherford

Social lender SIS receives top marks for year-end stats

Social Investment Scotland (SIS), the lender to the third sector, has delivered another year of investment growth and financial progress, aided by its partnership with one of Britain’s biggest supermarket chains.

Financial 2
STV chief executive Rob Woodward. Picture: John Devlin

Martin Flanagan: STV plugged in for digital growth

Resilient revenues, a 45 per cent jump in operating profits and one-third rise in the interim dividend at STV shows a pretty plugged in television business currently.

Media & Leisure
OneSavings Bank joined the London market in 2014. Picture: Sang Tan/AP

OneSavings mulls more deals after ‘stunning’ results

Specialist lending and retail savings group OneSavings Bank (OSB) has reported what one analyst described as a “stunning” performance in the first half, with pre-tax profits more than doubling from the year-ago period amid growth in its loan book.

Financial
Spirit of Speyside: Distilled will be held in Elgin next month. Picture: Contributed

Bruce Stevenson in high spirits at Speyside festival

Insurance broker Bruce Stevenson has been unveiled as the headline sponsor of a festival showcasing the best food and drink that Speyside can offer.

Financial 2
Martin Flanagan says the City is unlikely to rush to follow Neil Woodford's move. Picture: Carl Court/Getty Images

Martin Flanagan: Will rivals follow Neil Woodford’s bonus axe?

Star City fund manager Neil Woodford has done something completely left-field for the sector. He has scrapped bonuses at his firm Woodford Investment Management.

Financial
Nick Leeson said regulators were failing to take advantage of new technology. Picture: Niall Carson/PA Wire

Fraud probes bogged down in paperwork – Nick Leeson

Britain’s financial regulators and compliance teams are too bogged down in paperwork to focus on catching the next rogue trader, according to Nick Leeson, the man who sent Barings investment bank under with losses of £800 million.

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The rise in availability of contactless payment cards and the point-of-sales devices to use them has shot up in the last year. Picture: Getty Images/iStockphoto

Contactless card transactions top 2015 in first half of year

A growing number of shoppers are using contactless cards for payments – with the value of contactless transactions this year already topping the level seen in the whole of 2015.

Markets Economy
Assure APM chief executive Doug More. Picture: Alex Hewitt

IT monitoring outfit lands Baillie Gifford contract

Edinburgh-based tech firm Assure APM has landed a deal to monitor the IT network of fund manager Baillie Gifford.

Tech
Gregor Townsend, left, addressed McCrea's guests alongside Alan Archibald. Picture: Jeff Holmes

McCrea marks 15 years of supporting Scottish sport

Glasgow-based McCrea Financial Services is celebrating 15 years supporting the best of sport in Scotland.

Financial
Retail sales were better than expected in July. Picture: John Devlin

Martin Flanagan: High street sales surprisingly positive

Employment at record highs and consumer spending holding up well. Post-Brexit crisis, what post-Brexit crisis?

Markets Economy 1
Phil Loney also stressed that Royal London was committed to Scotland. Picture: Contributed

Royal London aims to be ‘Waitrose of life and pensions’

The chief executive of Royal London has vowed to build Britain’s biggest mutually-owned life and pensions provider into “the Waitrose of our sector” after unveiling another set of solid financial results.

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Co-op Bank expects to keep racking up losses until the end of next year. Picture: Nick Ansell/PA Wire

Co-op Bank warns of continued losses amid rate cuts

Co-operative Bank today warned that interest rate cuts will hold back its recovery efforts in the wake of the Brexit vote and confirmed it was set to remain loss-making until the end of 2017.

Financial 1
Admiral revealed a knock to its balance sheet strength. Picture: Contributed

Admiral shares hit despite insurer’s record profits

Car insurer Admiral struck a record interim profit yesterday – but shares fell 8 per cent as it disclosed that the Brexit vote knocked its balance sheet strength, wiping about 20 per cent off its so-called solvency ratio.

Financial
Firms could face hefty fines for helping clients avoid tax. Picture: John Devlin

Advisers could face fines for helping clients avoid tax

Accountancy firms that sell tax avoidance schemes to businesses could soon face heavy financial penalties under new UK government proposals.

Financial 5
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