The BBC reports that hundreds of thousands of people who were mis-sold payday loans will
receive a fraction of the compensation they are entitled to after WageDay Advance collapsed.
The company had given loans to about 800,000 people but went into administration earlier this year.
In
a case that mirrors the demise of Wonga, the company folded after being
hit by a wave of compensation claims for mis-sold loans.
Customers are now receiving emails to explain how much they owe or are owed.
However,
now the company is in administration, those who have paid off loans but
are entitled to compensation have become unsecured creditors. They can
only expect a fraction of the full compensation payout.
Wednesday, April 03, 2019
Flybe Cancels Flights
Flybe has cancelled dozens of flights todayhttps://t.co/MTy8GY0kQq— Simon Calder (@SimonCalder) April 3, 2019
Tuesday, March 19, 2019
Unemployment Falls To 4%
Despite the best efforts of politicians to destroy the country, unemployment is now below 4% for the first time since 1975.Unemployment is below 4% for the first time since 1975. https://t.co/eKWGOtsqdR— Christopher Snowdon (@cjsnowdon) March 19, 2019
Monday, March 18, 2019
Deutche Bank Commerzbank Merger - Too Ginormous To Fail....Or Can It?
Deutsche Bank and Commerzbank confirmed on Sunday they
were in talks about a merger, prompting labour union concerns about
possible job losses and questions from analysts about the merits of a
combination.
Germany’s two largest banks issued short statements after separate meetings of their management boards, a person with knowledge of the matter said, indicating a quickening of pace in the merger process, although both also warned that a deal was far from certain.
Germany’s two largest banks issued short statements after separate meetings of their management boards, a person with knowledge of the matter said, indicating a quickening of pace in the merger process, although both also warned that a deal was far from certain.
Size does not grant immunity from failure!
Thursday, March 07, 2019
Greggs Busts Through £1BN Barrier
Greggs stated today that annual sales had broken through £1bn for the first time.
Pre-tax profit last year rose 15% to £82.6m, marking the fifth year in a row that profits have increased.
The firms's shares have almost doubled in value since July last year.
Greggs knows what the market wants and is well savvy at marketing.
Pre-tax profit last year rose 15% to £82.6m, marking the fifth year in a row that profits have increased.
The firms's shares have almost doubled in value since July last year.
Greggs knows what the market wants and is well savvy at marketing.
Tuesday, March 05, 2019
HSBC Face £150M Lawsuit
By happenstance Ingenious are going into bat against HMRC, over a £1BN film investment scheme.HSBC faces £150m+ lawsuit from 400 investors caught up in tax evoidance film scheme https://t.co/MLffsZGdF5 claims HSBC provided "various services connected with the formation, financing, structure and operation of Eclipse.” and Eclipse scheme was marketed with the help of HSBC.— Paul Lewis (@paullewismoney) March 5, 2019
Monday, March 04, 2019
Huawei Sues Canada
Meng Wanzhou, the chief financial officer of Huawei who is facing an extradition request from the US, has claimed in a lawsuit filed late last week that she was illegally held and interrogated by Canadian officers for three hours before being formally arrested.
Ms Meng was detained at Vancouver International Airport in December while transferring to an onward flight to Mexico. Her case sparked a political furore in China, where she is widely seen as the victim of a political vendetta by the US.
The FT reports that the lawsuit was filed on Friday and distributed to journalists by Ms Meng’s lawyers on Sunday.
It alleges that Canadian officers held her on the pretext of making a routine border and immigration inspection. That allowed them to interrogate her, as well as search her luggage and electronic devices, without affording her the rights to a lawyer and other protections that come into play when a suspect is formally arrested.
The detention was “a deliberate and premeditated effort on the part of the defendant officers to obtain evidence and information from the plaintiff in a manner that they knew constituted serious violations of the plaintiff’s rights”, according to the suit, filed in the Supreme Court of British Columbia.
Ms Meng was detained at Vancouver International Airport in December while transferring to an onward flight to Mexico. Her case sparked a political furore in China, where she is widely seen as the victim of a political vendetta by the US.
The FT reports that the lawsuit was filed on Friday and distributed to journalists by Ms Meng’s lawyers on Sunday.
It alleges that Canadian officers held her on the pretext of making a routine border and immigration inspection. That allowed them to interrogate her, as well as search her luggage and electronic devices, without affording her the rights to a lawyer and other protections that come into play when a suspect is formally arrested.
The detention was “a deliberate and premeditated effort on the part of the defendant officers to obtain evidence and information from the plaintiff in a manner that they knew constituted serious violations of the plaintiff’s rights”, according to the suit, filed in the Supreme Court of British Columbia.
Monday, February 25, 2019
Brady Steps Down as Chairman of Taveta Investments
The Telegraph reports that Baroness Karren Brady has stepped down from her post as chairman of
Taveta, the holding company for Sir Philip Green’s retail empire.
Lady Brady was chairman of Taveta Investments, the company that owns Arcadia Group, which runs Sir Philip’s retail empire, including Topshop, Miss Selfridge and Dorothy Perkins.
Lady Brady was chairman of Taveta Investments, the company that owns Arcadia Group, which runs Sir Philip’s retail empire, including Topshop, Miss Selfridge and Dorothy Perkins.
Wednesday, February 20, 2019
Danske Pulls Out of Baltics and Russia
Danske Bank closes banking activities in Baltics and Russia https://t.co/1WesBjlj7N #Companies #News #Business #Careers #Politics #Companies #Economy #Agrifish #Travel #Health #Meantime #trending#Danske #Bank #Baltics #Russia
— POST Online Media (@poandpo) February 20, 2019
Tuesday, February 19, 2019
Honda's Choice - USA vs Japan
Honda UK boss tells #R4today "This is not a Brexit related issue for us." Global changes to do with switch to electric cars. Says it was a choice between Japan and the US.
— Euro Guido (@EuroGuido) February 19, 2019
Monday, February 18, 2019
Crumbs!
Six face arrest over cake shop chain fraud https://t.co/yppkDNCx1e pic.twitter.com/Wg3JeMHIQh— Jo Wadsworth (@BrightonNewsJo) February 18, 2019
How the hell the internal control systems and auditors didn't spot any of this is beyond me!
Thursday, February 14, 2019
The A380 Europe's White Elephant
Airbus A380 - from European dream to white elephant https://t.co/X14pe96NcI
— James Pearson (@pearswick) February 14, 2019
Monday, February 11, 2019
Economy Stagnates As Politicians Fail To Resolve Brexit Uncertainty
Appalling new monthly figures for the economy in December from @ONS: every single sector contracted. Growing Brexit stagnation as everyone sits on their money for what next... piles yet more pressure on No10 to get a deal. pic.twitter.com/i7Rvn86KV3
— Tom Newton Dunn (@tnewtondunn) February 11, 2019
Thursday, February 07, 2019
Bank of England Holds Base rates Steady
MPC voted unanimously to keep #BankRate at 0.75% pic.twitter.com/x2VdNEzasQ
— Bank of England (@bankofengland) February 7, 2019
Wednesday, February 06, 2019
Interserve Shareholders Wiped Out, Control Handed To Banks
current https://t.co/eppLQHF2XN splash is via @gillplimmer1 on Interserve rescue talks:
— Jim Pickard (@PickardJE) February 5, 2019
"One of the latest proposals would result in banks taking over 90 per cent of the company's shares in exchange for writing off around £300m of its £807m net debt."https://t.co/FEHFTSYrFs pic.twitter.com/7G0sjQMAON
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