Steve Jobs has stepped down as chief executive of technology giant, Apple, to be replaced by Tim Cook, previously the group’s chief operating officer. In his resignation letter, Mr Jobs, who has been on medical leave following a diagnosis of cancer, said: “I have always said if there ever came a day when I could [...]
Gordon Brown has this evening announced he is stepping down as Labour leader. Speaking outside 10 Downing Street, Mr Brown, who has been Prime Minister since June 2007 after the resignation of Tony Blair, said he intended to stand down as Labour leader “in the national interest”. The news comes after Friday’s hung parliament result, [...]
Shares in Watford Football Club have been suspended after its parent company, Watford Leisure, warned it may enter administration. The Club, nicknamed The Hornets, is currently 10th with 30 points in the 24-team Coca-Cola Championship. Watford Leisure recently announced it would run out of cash before Christmas if it did not secure further funding and [...]
Sir Victor Blank has announced he is to retire from the position as chairman at Lloyds Banking Group. Sir Victor’s shock resignation comes as he and chief executive, Eric Daniels, have faced criticism from shareholders following the hasty takeover of HBOS. According to Roger Lawson of the UK Shareholders’ Association: “Almost all of the shareholders [...]
Daniel Bouton, Société Générale’s chairman, has announced he will step down from the bank citing the “personal attacks” against him for his resignation. Mr Bouton, who is to stand down on 6 May, said the repeated attacks risk harming the bank and will depart to “protect the bank“. Mr Bouton has been criticised since the [...]
Troubled buy-to-let lender, Bradford & Bingley (B&B), has announced that Mark Stevens, its sales director, has resigned. The news comes at a bad time for the UK’s largest buy-to-let lender after it recently posted a loss of £26.7 million for the six months to the end of June. Commenting on the resignation, newly-appointed chief executive, [...]
Paul Idzik, a senior executive at Barclays, has resigned which has triggered talk of boardroom tensions at Britain’s third-largest bank. However, a spokesperson for Barclays has denied talk of a rift between senior executives and said Mr Idzik ‘felt it was the right time to look for his next challenge‘. Mr Idzik, who has been [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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