State-owned bank Northern Rock has today announced losses for the 2009 year fell to £258 million, compared with £1.36 billion in the previous year.
Despite the loss, the Newcastle-based bank said it is awarding staff £14.9m in bonuses but Gary Hoffman, the chief executive of Northern Rock, is waiving his payout.
Northern Rock said Mr Hoffman’s long-term [...]
Persimmon Homes managed 8,976 legal completions in 2009, compared with 10,202 in 2008, with an average selling price of £160,513 (down from £172,994 last year).
However, Britain’s largest house builder says it has a strong forward sales book of around £900 million, up 29% on 2008.
Ninety new sites are scheduled to open in the first half [...]
London-based bank Standard Chartered today announced a rise in pre-tax profits – meeting analysts expectations.
The bank, which has a strong presence in Asia, said pre-tax profits in 2009 were £3.4 billion ($5.15 billion), a rise of 13% on 2008 figures.
Meanwhile, revenue was up 9% to £10.14 billion ($15.18 billion).
However, while many other banks have opted [...]
In its second six-monthly set of complaints data relating to individual financial firms, the Financial Ombudsman Service (FOS) has today said complaints rose by 18% in the second half of 2009.
According to the FOS, it received 82,136 complaints between 1 July and 31 December 2009 – a rise of 12,295 compared with the first half [...]
Bonuses for Wall Street bankers grew by 17% to $20 billion (£13.2 billion) in 2009, according to figures from the New York state Comptroller Thomas DiNapoli.
The figures come at a time when US taxpayers are bailing out banks and Mr DiNapoli said: “For most Americans, these huge bonuses are a bitter pill and hard to [...]
Latest UK house price statistics from the Department for Communities and Local Government (DCLG) show the value of a typical home up 2.9% in December, compared to a year earlier.
The month saw a 0.8% increase on November, taking the average house price to £200,307 and completing a 2.9% gain for the final quarter of 2009. [...]