NatWest-RBS in Sainsbury’s Bank takeover approach
Edinburgh-based Sainsbury’s Bank has received an approach from NatWest-RBS for a potential takeover. The development comes a week after supermarket group Sainsbury’s said it received third-party…
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London-listed Scots firms post strong third quarter
Scottish companies listed on the London Stock Exchange outperformed their indices in the third quarter of 2020 according to analysis from Brewin Dolphin, boosted by…
Ex-Aegon boss Grace joins Caledonia’s 7IM as chairman
Former Aegon UK CEO Adrian Grace has joined £14 billion asset manager Seven Investment Management (7IM) — which is owned by Caledonia Investments — as…
Scots FTSE shares up 6.81% so far this year
Scottish FTSE-listed company shares have gained 6.81% in the first nine months of 2019, against the FTSE All Share’s 10.39% rise, according to the latest…
CYBG shares plunge 20% after £450m PPI bombshell
Shares of Glasgow-based banking group CYBG — owner of Virgin Money, Clydesdale Bank and Yorkshire Bank — fell more than 20% on Thursday after it…
Clydesdale owner CYBG faces £450m more PPI charges
Glasgow-based banking group CYBG — owner of Virgin Money, Clydesdale Bank and Yorkshire Bank — said on Wednesday evening it expects to increase its provisions for…
CYBG shares fall 11% amid margin, mortgage woes
Shares of Glasgow-based banking group CYBG — owner of Clydesdale Bank, Yorkshire Bank and Virgin Money — fell 11% on Tuesday after it said its net…
CYBG promises transparency on executive pay
Glasgow-based banking group CYBG — owner of Clydesdale Bank, Yorkshire Bank, Virgin Money and digital brand B — promised shareholders on Friday it would be…
Stagecoach board moves as Gadhia, Whitehorn leave
Stagecoach Group plc on Wednesday announced hanges to its board with deputy chairman Will Whitehorn planning to step down next year and non-executive director Jayne-Anne…
CYBG shares up amid ‘resilient’ half year results
Shares of Clydesdale and Yorkshire Bank owner CYBG rose about 5% on Wednesday after it delivered “resilient” results for the six months ended March 31,…
Standard Life Aberdeen assets rise to £569bn
Edinburgh-based investment giant Standard Life Aberdeen plc said on Tuesday its assets under management and administration rose 3% to £568.9 billion as at March 31, 2019…
CYBG shares up 14% as Q1 lending hits £72bn
Shares of Clydesdale and Yorkshire Bank owner CYBG rose about 14% on Wednesday after it lifted its forecast for margin growth and reported a rise…
UK central bank appoints Bowe, Gadhia
The Bank of England, the UK’s central bank, said Colette Bowe and Jayne-Anne Gadhia have been appointed as external members of its Financial Policy Committee…
CYBG shares down 15% amid loss and PPI hit
UPDATE 2 — Shares of Clydesdale and Yorkshire Bank owner CYBG fell more than 15% on Tuesday after it said it increased underlying profit before tax…
TSB hires Clydesdale’s Debbie Crosbie as CEO
TSB Bank announced that Debbie Crosbie, chief operating officer (COO) at Clydesdale and Yorkshire Bank owner CYBG, will join TSB as CEO in 2019. TSB…
Clydesdale owner mortgage book tops £24bn
Clydesdale and Yorkshire Bank owner CYBG, which is buying Newcastle-based Virgin Money for roughly £1.7 billion, said on Monday its third-quarter trading was in line with its…
Scots Business Taskforce membership announced
The UK Government’s Scottish Secretary David Mundell confirmed in the House of Commons that the new Scottish Business Taskforce of economic and business leaders will meet…
Gadhia recalls RBS sexism in gender equality push
The CEO of Edinburgh and Newcastle-based Virgin Money, Jayne-Anne Gadhia, has supported calls for a “ministerial board” that champions the economic benefits of gender diversity….
‘Alpha male culture contributed to RBS demise’
Virgin Money CEO Jayne-Anne Gadhia — a former leading executive at Royal Bank of Scotland — said in an interview that the “alpha male” culture…
Finance firms commit to women in senior roles
Standard Life, Royal Bank of Scotland, Aberdeen Asset Management, Lloyds Banking Group and Virgin Money are among the 72 firms who have signed the UK…
Tesco Bank hires Hourican from RBS as CFO
Edinburgh-based Tesco Bank said it appointed former Royal Bank of Scotland executive Declan Hourican to the position of chief financial officer (CFO). Hourican will take up the…
Clydesdale could quickly be involved in deal
Newly independent Clydesdale and Yorkshire Bank (CYBG) might quickly become involved in consolidation deals in the banking sector. “Like others out there, we would be viewed…
RBS Gets Approaches For Williams & Glyn
Royal Bank of Scotland (RBS) said on Wednesday it has received “a number of informal approaches” for its Williams & Glyn branch network. RBS said that while…
Abrdn’s Stout to retire; slams central bank ‘vandalism’
Abrdn’s £1.6 billion Murray International Trust announced that its controversial lead investment manager Bruce Stout will retire in from the Edinburgh investment giant in 2024….
Stagecoach shares rise as Souter, Gloag step down
UPDATE 3 — Shares of Perth-based transport giant Stagecoach Group rose about 9% on Wednesday after the firm said its founders — Brian Souter and…
Stagecoach gets rail franchises ban over pensions
Shares of Perth-based transport giant Stagecoach Group plc fell about 5% on Wednesday after it said it has been disqualified from the current three UK rail franchise competitions by…
East Coast rail to be temporarily in public control
The UK’s East Coast rail service between Edinburgh and London will be temporarily taken back under public control after UK Transport Secretary Chris Grayling said he…
Stagecoach half-year revenue tops £2bn
Perth-based rail and bus giant Stagecoach Group said its revenue rose to just over £2 billion in the half-year ended October 29 from £1.97 billion for the same…
BT pledges £6bn superfast broadband, 4G spend
BT said on Thursday its broadband and telephone business Openreach and its EE mobile phone network would between them spend £6 billion to extend superfast broadband…
Scotland targets more female angel investors
Angel investor group Investing Women wants to increase the ratio of Scotland’s female angel investors from an estimated one in 20 to the US level of one…