THE DAILY BRIEFING
LLOYDS SWOOPS Banking giant Lloyds has completed its acquisition of consumer credit card business MBNA from Bank of America after regulators backed the £1.9bn deal. Lloyds said MBNA, with assets of £7bn, would deliver strong financial returns and bolster its position in the UK prime credit card market.
MOODY’S FINE Credit rating agency Moody’s has been fined £1.1m for failing to explain how it scored European Union institutions, by the European Securities and Markets Authority.
PROFITS CLIMB Profits are up at chemicals company Johnson Matthey to £493m for the year ending March 31, on the back of £12bn of revenue, the company said.
SKILLS SOUGHT Gold and silver producer Polymetal is planning to bring in several non-executive directors by 2020 in a bid to boost the board’s skills.
It will appoint one new director by next year’s annual general meeting, with more appointments over the next two years.
LENDER’S BACKING Online lender Zopa has raised £32m before it seeks a bank licence later this year. The biggest investors were Indian finance firm Wadhawan Global Capital and City start-up supporter Northzone.
HOUSING MOVE Investment giant Legal & General has hired former Rolls- Royce executive Rosie Toogood to run its modular housing business.
CRISIS ALERT The chief executive of the World Bank Kristalina Georgieva has warned governments to ‘buckle up’ for the next string of global crises that will provide little respite for struggling economies. ‘We are now at the point when shocks are more frequent,’ she said.
NEW FACE Logistics group John Menzies has announced that Philipp Joeinig, formerly of Management Consulting Group and Lausanne Consulting, has joined its board. Shares rose 0.4pc, or 3p, to 713p.
SUNNY OUTLOOK The fall in the pound helped boost profits for publishing group Haynes – they are expected to be 40pc ahead of the previous year.
BOOKINGS RISE Hostel booking website Hostelworld said it expects trading for the full year to meet expectations, as bookings are up on last year.