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Balfour Beatty agrees £85 million pension deficit terms

24th February 2015
Balfour Beatty, the international infrastructure group, has announced that it has agreed heads of terms with the Trustee of the Balfour Beatty Pension Fund to re-profile the £85 million (€116 million) pension deficit payment, agreed at the time of the Parsons Brinckerhoff disposal, over eight years. As stated in the trading update on 22 January, […]
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FCA fines Aviva Investors £17.6 million

24th February 2015
The Financial Conduct Authority (FCA) has fined Aviva Investors Global Services Limited (Aviva Investors) £17,607,000 (€24 million) for systems and controls failings that meant it failed to manage conflicts of interest fairly. These weaknesses led to compensation of £132 million (€180 million) being paid to ensure that none of the funds Aviva Investors managed was […]
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FCA unveils new Senior Managers Regime

24th February 2015
Non-Executive Directors (NEDs) with specific responsibilities, such as Chairman, will come under the new Senior Managers Regime (SMR), the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) have confirmed. Following a detailed consultation across industry and with stakeholders it was also decided the regime would not apply to those NEDs who do not perform […]
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HSBC blames profit slump on ‘challenging year’

23rd February 2015
HSBC’s Group Chief Executive Stuart Gulliver blamed a ‘challenging year’ for the banking group’s 17% drop in profit before tax (PBT), as the financial giant posted its full year 2014 results today. The results follow allegations earlier this month that HSBC’s Swiss unit has assisted people to avoid and evade tax using hidden accounts in […]
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Argentina most complex place to do business

11th February 2015
For the second year running, Argentina has been ranked as the most complex country for multinational enterprises to do business in, according to TMF Group’s Global Benchmark Complexity Index. The far-reaching annual study by TMF Group has ranked 81 jurisdictions across Europe, the Middle East, Africa, Asia-Pacific and the Americas according to how complex they […]
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Legal & General to enter lifetime mortgage market

11th February 2015
Legal & General Group has announced its intention to acquire 100% of New Life Home Finance Limited for a consideration of £5 million (€6.7 million). Newlife is a privately owned UK-based provider of lifetime mortgage products. The acquisition by Legal & General's Retirement division is expected to complete during H1 2015, subject to FCA approval. […]
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Power deal levels to grow

11th February 2015
Global M&A value in the power and renewables sector has reached the highest level seen in the current decade – up 70% year-on-year - and any further upward movement would begin to move sector deal value back towards the heady levels last seen before the credit crunch, according to PwC and Strategy’s latest annual Power […]
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UK IPO market set for a strong 2015

10th February 2015
Investors expect a buoyant UK IPO market in the next 12 months despite the uncertainty caused by the approaching election, last year's IPO woes and a fall in oil prices, according to the first Investor Sentiment Index from BDO's Capital Markets team. The global research, which questioned institutional investors investing in UK equities with a […]
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Salary increase for finance jobs

10th February 2015
New layers of regulation are forcing banks and other top financial institutions to raise salaries for specialist professionals in the UK, a new survey reveals, despite pressure to cut costs. According to the Robert Walters Salary Survey, professionals across regulatory reporting, product control and internal audit sectors have been securing double digit pay rises in […]
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Chinese deal making in Europe surges

9th February 2015
Chinese investors are doing a far higher value and volume of M&A deals in Europe than European investors in China, according to data from Deloitte. In 2014 Chinese companies and financial investors announced 79 deals in Europe, compared to 54 European deals in China. In terms of value, in 2014 the average disclosed deal size […]
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Income doubles at Deutsche Bank in 2014

9th February 2015
Germany’s Deutsche Bank posted strong income and profit figures for 2014 with income before income taxes (IBIT) more than doubling to €3.1 billion for the year ended December 31, 2014. Core bank IBIT was €6 billion, up €1.1 billion from FY2013, while net revenues remained stable at €32 billion. Jürgen Fitschen and Anshu Jain, Co-Chief […]
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Growth predicted for European alternative lending markets

9th February 2015
The alternative lending markets in Europe reported strong growth in 2014, according to Standard & Poor's ‘Alternative Lending Markets In Europe Are Increasingly Open To Mid-Market Companies’ report, published in January 2015. "Given these positive market developments, expectations among regulators and politicians are high that alternative lending markets will support additional growth in Europe," said […]
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