Unity Trust Bank
Unity Trust Bank plc provides specialist banking services to trade unions, charities and other organisations that operate in the not-for-profit sector in the United Kingdom and, since December 2015, its remit has expanded to include profit-with-purpose businesses. Founded in 1984; head office is located at Four Brindleyplace, Birmingham. History Originally a licensed deposit taking institution, Unity Trust Limited acquired full status as a bank in 1987. Ownership Historically, Unity Trust Bank was majority owned by individual trade unions and federations (73.23%) and The Co-operative Bank owned the remainder (26.7%) through its subsidiary, Co-operative Commercial Limited. In December 2015, Unity bought back shares from Co-operative Commercial Limited, which reduced The Co-operative Bank's holding to 6.7%. Unity Trust's new articles of association redesignated all shares into a single class, all ranking ''pari passu'', and removed the different rights of the old classes and creat ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Public Limited Company
A public limited company (legally abbreviated to PLC or plc) is a type of public company under United Kingdom company law, some Commonwealth of Nations, Commonwealth jurisdictions, and the Republic of Ireland. It is a limited liability company whose shares may be freely sold and traded to the public (although a PLC may also be privately held, often by another PLC), with a minimum share capital of £50,000 and usually with the letters PLC after its name. Similar companies in the United States are called Public company, ''publicly traded companies''. Public limited companies will also have a separate legal identity. A PLC can be either an unlisted or listed company on the stock exchanges. In the United Kingdom, a public limited company usually must include the words "public limited company" or the abbreviation "PLC" or "plc" at the end and as part of the legal company name. Welsh companies may instead choose to end their names with , an abbreviation for '. However, some public l ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Financial Services
Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer finance, consumer-finance companies, brokerage firm, stock brokerages, investment management, investment funds, individual asset managers, and some government-sponsored enterprises. History The term "financial services" became more prevalent in the United States partly as a result of the Gramm-Leach-Bliley Act, GrammLeachBliley Act of the late 1990s, which enabled different types of companies operating in the U.S. financial services industry at that time to merge. Companies usually have two distinct approaches to this new type of business. One approach would be a bank that simply buys an insurance company or an investment bank, keeps the original brands of the acquired firm, and adds the Takeover, acquisit ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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The Co-operative Bank
The Co-operative Bank plc is a retail and commercial bank in the United Kingdom, with its headquarters in Balloon Street, Manchester. The Co-operative Bank is the only UK high street bank with a customer-led Ethical Policy which is incorporated into the Bank's Articles of Association. The Ethical Policy was introduced in 1992 and incorporated into the Bank's constitution in 2013. The Ethical Policy was revised and expanded in 2015 in line with over 320,000 customer responses to a poll. The latest Values and Ethics report was published in May 2020. The Bank does not provide banking services to organisations that conflict with customers’ views on a comprehensive range of issues, for example: human rights, environmental stability, international development and animal welfare, or those involved in irresponsible gambling or payday lending as stated in its ethical policy. Despite its name, the bank has never been a cooperative itself, although it was partly owned by The Co-operat ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Business Quarter (magazine)
Business is the practice of making one's living or making money by producing or buying and selling products (such as goods and services). It is also "any activity or enterprise entered into for profit." Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business. The term is also often used colloquially (but not by lawyers or by public officials) to refer to a company, such as a corporation or cooperative. Corporations, in contrast with sole proprietors and partnerships, are a separate legal entity and provide limited liability for their owners/members, as well as being subject to corporate tax rates. A corporation is more complicated and e ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Co-operative Group
Co-operative Group Limited, trading as Co-op, is a British consumer cooperative, consumer co-operative with a group of retail businesses including food retail, wholesale, e-pharmacy, insurance and legal services, and funeral care. The Co-operative Group has over 65,000 employees across the UK. The group has its headquarters in One Angel Square in Manchester. The Group also manages the Co-operative Federal Trading Services, formerly the Co-operative Retail Trading Group (CRTG), which sources and promotes goods for food stores of the co-operative movements of the UK. It introduced the Co-operative brand in 2007, which is used by many consumers' co-operatives in the UK and managed by the group. History Beginnings (1844–1938) The Co-operative Group has developed over the years from the merger of co-operative wholesale society, co-operative wholesale societies and many independent retail societies. The Group's roots are traced back to the Rochdale Society of Equitable Pionee ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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The Guardian
''The Guardian'' is a British daily newspaper. It was founded in 1821 as ''The Manchester Guardian'', and changed its name in 1959. Along with its sister papers ''The Observer'' and ''The Guardian Weekly'', ''The Guardian'' is part of the Guardian Media Group, owned by the Scott Trust. The trust was created in 1936 to "secure the financial and editorial independence of ''The Guardian'' in perpetuity and to safeguard the journalistic freedom and liberal values of ''The Guardian'' free from commercial or political interference". The trust was converted into a limited company in 2008, with a constitution written so as to maintain for ''The Guardian'' the same protections as were built into the structure of the Scott Trust by its creators. Profits are reinvested in journalism rather than distributed to owners or shareholders. It is considered a newspaper of record in the UK. The editor-in-chief Katharine Viner succeeded Alan Rusbridger in 2015. Since 2018, the paper's main news ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Living Wage In The United Kingdom
A living wage is defined as the minimum income necessary for a worker to meet their basic needs. This is not the same as a subsistence wage, which refers to a biological minimum, or a solidarity wage, which refers to a minimum wage tracking labor productivity. Needs are defined to include food, housing, and other essential needs such as clothing. The goal of a living wage is to allow a worker to afford a basic but decent standard of living through employment without government subsidies. Due to the flexible nature of the term "needs", there is not one universally accepted measure of what a living wage is and as such it varies by location and household type. A related concept is that of a family wage – one sufficient to not only support oneself, but also to raise a family. The living wage differs from the minimum wage in that the latter can fail to meet the requirements for a basic quality of life which leaves the worker to rely on government programs for additional income. Livin ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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NatWest
National Westminster Bank, commonly known as NatWest, is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it became part of The Royal Bank of Scotland Group, which was re-named NatWest Group in 2020. Following ringfencing of the group's core domestic business, the bank became a direct subsidiary of NatWest Holdings; NatWest Markets comprises the non-ringfenced investment banking arm. The British government currently owns around 48.1%, previously 54.7% of NatWest Group after spending £45 billion ($61.87 billion) bailing out the lender in 2008. NatWest is considered one of the Big Four clearing banks in the UK, and it has a large network of over 960 branches and 3,400 cash machines across Great Britain and offers 24-hour ''Actionline'' telephone and online banking services. Today, it has more than 7.5 million personal customers and 850,000 ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Trade Unions In The United Kingdom
Trade unions in the United Kingdom were first decriminalised under the recommendation of a Royal commission in 1867, which agreed that the establishment of the organisations was to the advantage of both employers and employees. Legalised in 1871, the Trade Union Movement sought to reform socio-economic conditions for working men in British industries, and the trade unions' search for this led to the creation of a Labour Representation Committee which effectively formed the basis for today's Labour Party, which still has extensive links with the Trade Union Movement in Britain. Margaret Thatcher's governments weakened the powers of the unions in the 1980s, in particular by making it more difficult to strike legally, and some within the British trades union movement criticised Tony Blair's Labour government for not reversing some of Thatcher's changes. Most British unions are members of the TUC, the Trades Union Congress (founded in 1867), or where appropriate, the Scottish Tra ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Credit Unions In The United Kingdom
Credit unions in the United Kingdom were first established in the 1960s. Credit unions are member-owned financial cooperatives operated for the purpose of promoting thrift, providing credit and other financial services to their members. Credit unions in the UK now offer a wide range of services to their members; including current accounts, payroll deductions, standing orders and insurance. Co-operative or mutual organisations engaging in cooperative banking, such as building societies, have existed in the UK since the 18th century. History Institutions known as mutual societies grew out of the friendly society movement of the 18th century, with the first mutual insurer, Equitable Life, being founded in 1762. Formalised under the Friendly Societies Act 1819, mutual institutions predated the welfare state and were formed to meet the needs of a growing urban working class. This communitarian self-help movement allowed small regular individual contributions to be pooled for mu ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Social Economy
The social economy is formed by a rich diversity of enterprises and organisations, such as cooperatives, mutuals, associations, foundations, social enterprises and paritarian institutions, sharing common values and features: * Primacy of the individual and the social objective over capital * Voluntary and open membership * Democratic governance * Combination of interests of members/users and/or the general interest * Defence and application of the principles of solidarity and responsibility * Autonomous management and independence from public authorities, though cross-sector collaboration is common * Reinvestment of at least most of the profits to carry out sustainable development objectives, services of interest to members or of general interest Social economy enterprises and organisations have different sizes, ranging from SMEs to large companies and groups that are leaders in their markets, and operate in all the economic sectors. History Third sector As a field of stud ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |
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Banks Of The United Kingdom
Central bank The Bank of England is the central bank of the United Kingdom. The Big Four British banking has been highly consolidated since the early 20th century. Unlike some other major economies, the UK does not have a major stratum of independent local banks. The number of independent banks shrank further during 2008: Northern Rock was nationalised by the UK Government (and is now owned by Virgin Money), followed by Bradford & Bingley; Alliance & Leicester was acquired by Santander, who merged it into Santander UK. On 18 September 2008, Lloyds TSB plc entered into a confirmed agreement to take over HBOS plc, which took effect on 19 January 2009, when HBOS was acquired and folded into Lloyds Banking Group. The retail and commercial banking markets are dominated by HSBC, Barclays, Lloyds Banking Group, NatWest Group and Spanish-owned Santander UK (most of these companies operate more than one banking brand in the UK). Banks incorporated in the UK A full list of busi ... [...More Info...]       [...Related Items...]     OR:     [Wikipedia]   [Google]   [Baidu]   |