Lloyds bank set to disinvest stake in esure
Lloyds bank has today revealed plans to sell off its 70% stake in esure at a price which is believed to be in excess of the current book value of £185 million. It is believed that Peter Woods, co-founder and chairman of esure, is to acquire the stake via a new holding company. Those who follow the insurance market may be aware that Peter Woods, originally famed because of his Direct Line insurance creation, set up the esure business with HBOS back in 2001.
However, since HBOS became part of the Lloyds bank group there has been friction between Peter Woods and the Lloyds bank management and the sale of the Lloyds bank stake was expected by many. Esure is a well-known insurance brand in the UK and is also the owner of the infamous Sheilas Wheels brand with its array of striking adverts on the TV.
The company specialises in various niche markets and has made an excellent name for itself with profits topping £38 million in 2008. Quite what Peter Woods has in store for the future remains to be seen but he appears relieved to be on the verge of taking total control of his "baby".
PwC uncovers debt concerns
Borrowing on credit cards and through unsecured loans climbed by six per cent over the year to September, PricewaterhouseCoopers (PwC) has said.According to the accountancy firm, many Britons are also concerned about their ability to pay off debt.The new PwC report showed that around one in four are worried about their future debt repayments - while 16 per cent are facing problems with the payment...Read More
Spring clean your finances
08/04/2015 British springtime has officially begun, and the annual tradition of the spring clean has crept back up on us again! If you are sick of airing out your cupboards or deep cleaning your carpets, maybe its time for you to have a spring clean of you finances instead.
Why do I need a spring clean?
Even if you are extremely careful when it comes to your budget,...Read More
UK government announces crackdown on payment protection insurance
The UK government has today announced a substantial change in the regulations governing the sale of payment protection insurance (PPI) in relation to loans and credit cards. This area of the market has been relatively untouched for some time despite growing complaints of aggressive sales pitches and some customers feeling they had no choice but to take out PPI with their loan or credit card compan...Read More
Should The Rich Pay More Tax?
This is an age old debate and one which seems to appear on the front pages from time to time, but is it actually fair to expect the richer people of society to pay a higher rate of tax? Does it actually incentivise people to better themselves or does it contribute to the brain drain?
While there is no right or wrong answer to the above question, opinions are generally divided down t...
Financialadvice.co.uk watches as Scotland decides
18/09/2014 Voters in Scotland will today answer “Yes” or “No” to the question “Should Scotland be an independent country?” The opposing sides, the Yes campaign favoring independence called “Yes Scotland”, and the No campaign, called “Better Together” who wants to keep the union intact, have been fiercely campaigning about the 307 year old union with England over the past...Read More