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Professional Services

HSBC hunts for new UK boss as current chief takes up 'vital' new role
By City AM
Ian Stuart, who has been chief executive of the bank's UK business for eight years, will move to the newly created role of group customer and culture director
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Lloyds shares worth 70p as analysts upgrade price target on bank
By City AM
Peel Hunt analysts have upgraded their price target on Lloyds shares, but have maintained a 'Hold' rating on the bank
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Mortgage approvals reach highest level since 2007 thanks to interest rate cut
By City AM
The property market has started the year off on the 'front foot', according to the CEO of a specialist lender, as mortgage approvals reached the highest level in 15 years
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Close Brothers finalises sale of asset management division to Oaktree
By City AM
The banking group has offloaded Close Brothers Asset Management (CBAM) to global investment management firm Oaktree Capital Management in a bid to strengthen its balance sheet
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FTSE 100 surges to record high as BAE Systems and Rolls-Royce stocks soar
By City AM
The FTSE 100 index hit a new record high on Monday morning as defence stocks surged across Europe after countries signalled they would up defence spending over the weekend
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Newcastle Building Society pre-tax profits hit by support for Philips Trust victims but underlying business shows strength
Company Results
The society has raised £60m to support its growth plans
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Late payments to Welsh firms reaches 21 month high
Banking & Finance
New research from R3 shows that in January Welsh firms had more than 150,000 overdue invoices
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Sales platform raises further £1.5m to expand internationally
West Midlands
OneUp Sales in Tamworth has secured a fourth round of capital from MEIF and Mercia Ventures
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Business confidence in Wales rises but far lower than the UK as a whole
Lloyds
Lloyds Commercial has published its latest business barometer
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Lloyds Bank CEO Charlie Nunn takes home £5.6m in pay, bonuses and perks
By City AM
The bumper pay and bonuses come after the lender's profit took a hit in its annual results and as it was forced to set aside a further £1.2bn for potential payouts as a result of the motor finance scandal
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People on the move: key North East appointments and promotions of the week
Appointments
Companies featuring in this week's round-up include Blue Kangaroo, WE-COM, Simply Learning, Teesside Airport and DPP Planning
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NorthStandard boosts income to $870m despite uncertainty in global shipping sector
Company Results
The maritime insurance provider described strong headwinds in 2023-24 but highlighted its resilience
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Profits dip at Leeds Building Society as it describes 'turbulent' market for savers and borrowers
Company Results
The UK's fifth largest building society described its results as record breaking - increasing mortgage lending to £5.7bn and a 7.8% increase in members to 991,000
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New chair of Monmouthshire Building Society
Appointments
Marian Evans has been appointed chair of the Newport headquartered mutual
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London Stock Exchange Group smashes expectations with strong growth and bold 2025 outlook
By City AM
The firm's total income, excluding recoveries, grew by 7.7 per cent in 2024, with broad growth across divisions.
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Swansea law firm advises on new sportswear deal for Cricket South Africa
Professional Services
JCP Solicitors acted on the deal for its long-term client in international sportswear manufacturer Macron
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Law firm launches Birmingham office
West Midlands
HF has taken its portfolio of bases to 12 across the UK and Ireland after signing up for space
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Metro Bank sells off £584m personal loan book as it switches to specialist lending
By City AM
Metro Bank today confirmed it will sell its £584m portfolio of unsecured personal loans as the lender moves its focus to specialist lending
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Yorkshire Building Society profits squeezed by falling interest rates
Company Results
The mutual said the UK economic outlook is "relatively benign" in the short term
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Rathbones ahead of expectations as Investec merger progresses
By City AM
The wealth manager posted a 35 per cent increase in operating income to £895.9m, beating analyst expectations, as the firm progressed with its merger of Investec Wealth and Investment (IW&I)
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International Personal Finance reports record profits and plans for future growth
By City AM
The consumer credit provider reported full-year profit before tax of £85.2 million, beating analysts' consensus range of £78 million to £82 million
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Skipton Building Society grows mortgage lending as profits dip
Finance
Group chief executive Stuart Haire said 2024 had been commercially successful and the society was focussed on helping home buyers
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Barclays shares could be set for 18% rise after profit beat, experts say
By City AM
The FTSE 100 lender booked a profit before tax of £8.1bn in 2024, ahead of the £8.07bn estimated, while Barclays shares slumped as much as five per cent in the aftermath of results
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Principality Building Society post a fall in pre-tax profit but with total assets now exceeding £14bn
Finance
The Cardiff headquartered mutual has reaffirmed its commitment to having a strong high street presence
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By City AMLloyds shares worth 70p as analysts upgrade price target on bankPeel Hunt analysts have upgraded their price target on Lloyds shares, but have maintained a 'Hold' rating on the bank
FTSE 100 surges to record high as BAE Systems and Rolls-Royce stocks soar
By City AM
The FTSE 100 index hit a new record high on Monday morning as defence stocks surged across Europe after countries signalled they would up defence spending over the weekend
By City AMHSBC hunts for new UK boss as current chief takes up 'vital' new roleIan Stuart, who has been chief executive of the bank's UK business for eight years, will move to the newly created role of group customer and culture director
Lloyds shares worth 70p as analysts upgrade price target on bank
By City AM
Peel Hunt analysts have upgraded their price target on Lloyds shares, but have maintained a 'Hold' rating on the bank
Mortgage approvals reach highest level since 2007 thanks to interest rate cut
By City AM
The property market has started the year off on the 'front foot', according to the CEO of a specialist lender, as mortgage approvals reached the highest level in 15 years
Close Brothers finalises sale of asset management division to Oaktree
By City AM
The banking group has offloaded Close Brothers Asset Management (CBAM) to global investment management firm Oaktree Capital Management in a bid to strengthen its balance sheet
FTSE 100 surges to record high as BAE Systems and Rolls-Royce stocks soar
By City AM
The FTSE 100 index hit a new record high on Monday morning as defence stocks surged across Europe after countries signalled they would up defence spending over the weekend
By City AMLord Alan Sugar sells entire stake in tech recruitment firm after 4 yearsTom Johnson has now taken full control of the Reading-base company which the former winner of The Apprentice persuaded Lord Alan Sugar to invest in back in 2019
Rail industry body calls for return of Birmingham to Crewe HS2 plan
High Speed 2
High Speed Rail Group is urging government to adopt a 'cost efficient and deliverable path forward'
Lloyds shares worth 70p as analysts upgrade price target on bank
By City AM
Peel Hunt analysts have upgraded their price target on Lloyds shares, but have maintained a 'Hold' rating on the bank
Top Gear's Freddie Flintoff's business takes big hit after horror crash
By City AM
Freddie Flintoff Enterprises, the company the former England cricketer runs with his wife Rachael, has fallen into the red after he took time off to recover from a horror crash filming Top Gear for the BBC
Self-storage company opens new facility in Cornwall
South West
The family-run business was founded in 1974 and has sites across the South West region
property news£152m funding deal paves way for more than 600 riverside apartments to be created in LeedsConstruction has started on the five buildings near Leeds city centre and is expected to be completed by the end of 2027
Co-op admits to 107 breaches of order to stop blocking rivals from opening nearby
By City AM
The group has admitted to 107 breaches of an order to stop supermarkets imposing restrictions that block rivals from opening competing stores nearby, the Competition and Markets Authority (CMA) said
Breedon Group's strategic acquisition of US-based company set to boost revenue
By City AM
The US firm has been acquired for £187m as Breedon Group looks to increase its presence across the pond.
Flutter Entertainment defies challenging sports results with strong growth
By City AM
The company's revenue jumped 14 per cent in the fourth quarter, driven by strength in its UK and Ireland markets and the US
'Vital' new homes development in Rochdale finally set to go ahead after false starts
North West
The Station Gardens scheme will feature more than 200 homes and a new public park on the former central retail park close to Rochdale train station