United Kingdom

Emma Rumney

Steinhoff shares tumble after accounts, PwC probe delayed

06 Dec 2018

JOHANNESBURG A probe into accounting irregularities at Steinhoff International and the release of the retailer's restated results have been delayed, it said on Thursday, sending its shares down as much as 21 percent.

UPDATE 1-RSA cuts some London-based global business in profit pursuit

13 Nov 2018

* Changes to cut premiums written by a third in 2019 (Adds detail from statement, bullet points)

Goldman's Marcus jolts British banks out of savings slumber

12 Nov 2018

LONDON Britain's big banks, long able to shrug off competition from start-ups, have been spooked by an account launched just six weeks ago by Goldman Sachs that pays savers more. | Video

Exclusive: Britain's Paragon will not appeal landmark PPI case ruling

08 Nov 2018

LONDON Britain's Paragon Banking Group said it will not appeal a ruling forcing it to pay compensation over the mis-selling of a payment protection insurance (PPI) premium, in a key case in Britain's costliest consumer scandal.

British app bank Monzo hits unicorn status after latest fund raising

31 Oct 2018

LONDON British app-only bank Monzo said on Wednesday that its backers now value the lender at 1 billion pounds, giving it unicorn status, after it raised 85 million pounds to fund the doubling of its workforce.

UK government plans to sell remaining RBS stake by 2024

29 Oct 2018

LONDON The British government has set out its exit strategy from its biggest taxpayer-funded bailout of the financial crisis, announcing plans to sell all of its shares in Royal Bank of Scotland by 2024.

Landmark pensions ruling may cost Lloyds Banking Group $192 million

26 Oct 2018

LONDON Lloyds Banking Group must amend its pension schemes to equalise benefits for men and women following a court ruling that could cost the bank up to 150 million pounds ($191.97 million) and affect thousands of other companies.

RBS sets £100 million aside to cover Brexit uncertainty

26 Oct 2018

LONDON Royal Bank of Scotland has set an extra 100 million pounds aside to account for possible bad loans as a result of Brexit uncertainty, in the first concrete sign this is clouding the outlook of a big British bank. | Video

SFO denied permission to charge Barclays over 2008 fundraising

26 Oct 2018

LONDON A High Court judge has denied a Serious Fraud Office application to charge Barclays over its 2008 capital raising, potentially ending the biggest remaining legal headache facing the British bank over its conduct during the financial crisis.

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