Sunday newspaper round-up: Stamp duty, Wind energy, Metro Bank
31st Mar 2024 19:06
(Sharecast News) - Investment companies are calling on government to bin the stamp duty on share trading in order to revive the London stock market and the country's economy. The bosses at Abrdn, AJ Bell, Hargreaves Lansdown and Interactive Investor all told The Mail on Sunday that politicians must pledge to ditch the tax. According to Abrdn's Stephen Bird, the levy was unpatriotic and economically destructive. Removing it might be the single biggest boost to UK share ownership, he said. - The Financial Mail on Sunday
Read moreMetro Bank records first profit since 2018
13th Mar 2024 07:57
(Sharecast News) - Metro Bank has reported its first annual statutory profit in five years despite a flat top line as the UK high street bank launched a cost-savings programme that cut store hours and roles across the business.
Read moreBillionaire banker Jaime Gilinski Bacal joins Metro Bank's board
24th Jan 2024 12:33
(Sharecast News) - Metro Bank has appointed Colombian billionaire banker and real estate developer Jaime Gilinski Bacal to its board after his firm became a controlling shareholder in the bank last year.
Read moreMetro Bank CFO James Hopkinson to step down
12th Jan 2024 07:39
(Sharecast News) - Metro Bank said on Friday that chief financial officer that James Hopkinson has agreed to step down with immediate effect.
Read moreLondon close: Stocks mixed after US, Europe inflation data
30th Nov 2023 15:16
(Sharecast News) - London's markets finished with a mixed performance on Thursday, with the top-flight index lifted by the likes of BP and Shell.
Read moreMetro Bank to cut 20% of staff as it looks to save £50m a year
30th Nov 2023 07:52
(Sharecast News) - Metro Bank said on Thursday that it plans to axe around 20% of its staff and is reviewing its policy of keeping branches open seven days a week as it looks to save around £50m a year.
Read moreBarclays in talks to acquire mortgage portfolio from Metro Bank
27th Nov 2023 13:44
(Sharecast News) - Banking giant Barclays has entered exclusive talks to acquire a large portfolio of residential mortgages from high street lender Metro Bank as it seeks approval for a wider refinancing aimed at saving it from collapse.
Read moreSunday newspaper round-up: Rolls-Royce, Minimum wage, Metro Bank
26th Nov 2023 20:42
(Sharecast News) - Rolls-Royce chief Tufan Erginbilgic is expected to push for government backing for the company's small modular reactors. The engineer has already received approximately £200m in government funding and has a lead on its domestic and foreign rivals, but Erginbligic is worried that they might catch up. The government's lukewarm attitude may also make potential foreign buyers hesitate. - The Financial Mail on Sunday
Read moreSunday newspaper round-up: Tax fraud scandal, Royal Mail, Metro Bank
12th Nov 2023 20:09
(Sharecast News) - More claims against banks and individuals operating in the City linked to the so-called Cum-Ex case are likely. The tax fraud scandal - Europe's largest ever - is estimated to have cost German taxpayers alone almost £10bn. Among the lenders being investigated are Barclays, Bank of America Merrill Lynch, Morgan Stanley, BNP and Nomura, together with law firms and auditors. Last week, the Supreme Court ruled that Danish authorities could pursue an alleged £1.4bn Cum-Ex fraud in London. The decision may open the floodgates to to claims from regulators in other European countries. - Financial Mail on Sunday
Read moreMetro Bank daily flows returning to normal after capital injection
7th Nov 2023 10:37
(Sharecast News) - Metro Bank said in an update on Tuesday that its daily flows had returned to more normal ranges since it secured £325m in capital in early October.
Read moreLondon close: Stocks slip into red on growing Middle East concerns
9th Oct 2023 15:40
(Sharecast News) - London's financial markets closed in the red on Monday, relinquishing earlier gains as geopolitical tensions emanating from the Israel-Gaza conflict hit global sentiment.
Read moreMetro Bank announces £925m capital package, looking at mortgage sale
9th Oct 2023 07:23
(Sharecast News) - Metro Bank announced a robust capital and debt restructuring package totalling £925m on Monday, after a week of market chatter and reports around its capital position, although some current stakeholders will be taking a 40% haircut.
Read moreSunday newspaper round-up: Renewi, Metro Bank, New homes
8th Oct 2023 11:36
(Sharecast News) - Some of Renewi's major shareholders are divided as to whether the recycling company should engage with Australian suitor Macquarie. One major shareholder has told Renewi's board that it should not until Macquarie raised its £636m bid, but another top ten shareholder told The Sunday Times that it should talk to the Australian outfit anyways. Macquarie has until 26 October to make a firm offer. - The Sunday Times
Read moreMetro Bank begins talks over £3bn mortgage book sale - report
6th Oct 2023 09:21
(Sharecast News) - Metro Bank has reportedly begun talks about the sale of a £3bn chunk of its mortgage book as part of an increasingly urgent attempt to shore up its balance sheet.
Read moreMetro Bank considering up to £600m capital raise - reports
5th Oct 2023 07:33
(Sharecast News) - Metro Bank confirmed on Thursday that it is considering its refinancing options following reports it was looking to raise hundreds of millions of pounds from investors.
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