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Close Bros (CBG) Share News

IN BRIEF: Close Brothers expects Supreme Court ruling next Friday

25th Jul 2025 20:08

Close Brothers Group PLC - London-based merchant bank - Confirms the UK Supreme Court will announce its judgment in respect of the company's appeal of the "Hopcraft" motor finance commissions case next Friday after the close of trading. Close Brothers says that the parties will not receive a copy of the draft judgment in advance of publication and therefore does not know the outcome of the appeal. The appeal was heard in April. Close Brothers is challenging a Court of Appeal ruling from October last year, which found that "secret" commission payments to car dealers as part of finance arrangements made before 2021 without the motorist's fully informed consent, were unlawful. Read More

LONDON MARKET CLOSE: FTSE 100 takes breather ahead of tariff deadlines

25th Jul 2025 17:00

(Alliance News) - The FTSE 100 ended a six-day winning streak to close a strong week on the back foot, ahead of pending US trade talk deadlines. Read More

IN BRIEF: Close Brothers sells City broker Winterflood to Marex Group

25th Jul 2025 08:55

Close Brothers Group PLC - London-based merchant bank - Agrees to sell City broker Winterflood Securities, to London-based Marex Group PLC for GBP103.9 million in cash. The deal is expected to complete in early 2026 and is subject to regulatory approval. "This transaction marks another important step in simplifying the group to focus on our core specialist lending business, following the sale of [Close Brothers Asset Management] in February 2025," says Close Brothers Chief Executive Officer Mike Morgan. Close Brothers expects the sale proceeds to benefit its CET1 ratio by around 30 basis points, increasing it to 14.3% from 14.0%. This is based on a tangible net asset value of GBP88.9 million and assumes an immediate reduction in market and credit risk-weighted assets associated with Winterflood. Close Brothers anticipates further CET1 ratio benefits of up to around 25 basis points from a reduction in operational risk RWAs currently associated with Winterflood "in due course". A goodwill impairment loss of roughly GBP15 million will be taken in the company's 2025 accounts. Read More

LONDON BRIEFING: NatWest profit up; Close Brothers sells Winterflood

25th Jul 2025 07:57

(Alliance News) - London stocks are called higher on Friday, as a UK retail data reading shows a rise in sales in June that fell short of expectations. Read More

Close Brothers sells UK beer keg rental business to MML Capital

15th Jul 2025 09:52

(Alliance News) - Close Brothers Group PLC on Tuesday said it has agreed to sell its business that rents beer kegs and casks to a fund managed by MML Capital, as the UK merchant bank seeks to simplify its portfolio and focus on core lending operations. Read More

Close Brothers moves out of personal lines insurance premium finance

9th Jul 2025 09:47

(Alliance News) - Close Brothers Group PLC on Wednesday said it will focus on commercial lines within its insurance premium finance business, reducing its emphasis on personal lines. Read More

LONDON MARKET OPEN: Europe rises despite new US tariff mayhem

9th Jul 2025 08:56

(Alliance News) - Stock prices in Europe opened in the green on Wednesday, shaking off a more stern tone from US President Donald Trump on trade policy, though the threat of sector tariffs on copper and pharmaceuticals hit miners and drug makers. Read More

Secure Trust Bank exits motor finance in wake of commission redress

2nd Jul 2025 13:04

(Alliance News) - Secure Trust Bank PLC on Wednesday said it will stop new lending within its Vehicle Finance business and put the existing book into run-off, after a UK court ruling late last year requiring lenders to provide customer redress for commission payments made for business referrals from motor dealers. Read More

LONDON BROKER RATINGS: RBC cuts National Grid; Citigroup cuts South32

28th May 2025 09:36

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and on Tuesday: Read More

LONDON BROKER RATINGS: Jefferies raises M&S but cuts J Sainsbury

22nd May 2025 09:33

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and on Wednesday: Read More

LONDON MARKET CLOSE: Stocks mixed while hot CPI sends sterling higher

21st May 2025 17:08

(Alliance News) - The FTSE 100 held modest gains at the close on Wednesday while a strong inflation print sent sterling to a three-year high. Read More

Close Brothers loan book shrinks as costs rise on motor finance hit

21st May 2025 10:13

(Alliance News) - Close Brothers Group PLC on Wednesday said its loan book decreased in the third quarter with lower activity in some of its businesses. Read More

LONDON BROKER RATINGS: HSBC raises Carnival; Citi raises Tate & Lyle

16th May 2025 09:27

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and on Thursday: Read More

LONDON BROKER RATINGS: UBS raises Burberry to 'buy' but Deutsche cuts

15th May 2025 09:27

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and on Wednesday: Read More

EXECUTIVE CHANGES: Redcentric CEO-designate leaves immediately

4th Apr 2025 14:15

(Alliance News) - The following is a round-up of London-listed company director and manager changes announced this week and not separately reported by Alliance News: Read More

UK Supreme Court starts three-day hearing on car loans

1st Apr 2025 13:45

(Alliance News) - A court ruling which could leave motorists being owed compensation over their car finance arrangements "goes too far", the UK's financial watchdog has told the Supreme Court. Read More

The UK car loan scandal that could cost banks billions

28th Mar 2025 02:47

(Alliance News) - Banks may have to pay out tens of billions of pounds if the British Supreme Court upholds a judgment ruling controversial car loans are unlawful, in a case beginning in April. Read More

LONDON BROKER RATINGS: Deutsche raises Bunzl; Peel cuts JD Wetherspoon

24th Mar 2025 10:02

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and on Friday: Read More

LONDON BROKER RATINGS: HSBC raises Sainsbury's; Shore likes Tullow

21st Mar 2025 09:26

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and on Thursday: Read More

LONDON MARKET CLOSE: Stocks up and DAX jumps on investment green light

18th Mar 2025 16:55

(Alliance News) - London's FTSE 100 closed in the green on Tuesday, although below early highs, while it was another record-breaking day in Frankfurt after a key investment package was approved. Read More

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