UK businesses financially unprepared for cyber attacks, according to Lloyds Bank April 3, 2018 Only a third of British businesses have a financial plan in place in case of a cyber attack, according to a survey at Lloyds Bank. Meanwhile, only half of companies discuss the risk of cyber attacks at board level. The survey found that, if attacked, over a third of firms would pay a ransom to [...]
City A.M. TV: Daily Market Snapshot (video) February 22, 2021 After a false breakout to the upside in equity markets early last week, momentum has shifted sharply to the downside. With that, there has been further weakness in key equity index futures markets in Asian trading overnight. As a result, there are now two key factors that we are watching to judge when the downside has played out and, therefore, when to reinstate LONG positions. Those [...]
TSB branch closures: Where all 82 bank branches will close November 28, 2019 TSB has announced the full list of the 82 branches it is set to close in 2020 as part of a cost-cutting plan that will also slash 370 jobs. The high-street lender is overhauling its business as it licks its wounds from a catastrophic IT meltdown and as banks across the world feel the pressure [...]
Government rejects calls for stronger links between CEO and employee pay June 13, 2019 The government’s response to calls for stronger links between chief executive pay and that of other employees has been branded a “missed opportunity” by MPs. The Business, Energy and Industrial Strategy (BEIS) committee had called for recent reforms to link CEO pay to the rest of the workforce to be extended and for firms to [...]
FTSE 100 slips as fears of third Covid wave spark recovery concerns March 24, 2021 London’s FTSE 100 dipped by 0.2 per cent on Wednesday as a jump in Covid cases across Europe sparked concerns about its near-term economic impact. The blue-chip index was edged down by bank stocks including HSBC, Barclays and Lloyds falling between one per cent and 1.5 per cent. British consumer price inflation fell to 0.4 [...]
‘Stagnation at best’: UK’s giant services sector flatlines as Brexit uncertainty continues November 5, 2019 The UK’s enormous services sector flatlined in October as Brexit uncertainty dented demand, signalling a weak start to the third quarter for the UK economy. Read more: ‘Distressing decline’: UK construction sector contracts again in October The services purchasing managers’ index (PMI), which measures the performance of the sector, came in at 50 last month, [...]
Lloyds Banking Group says customers are facing online banking issues which it is ‘working hard’ to resolve April 30, 2018 Lloyds Banking Group said this afternoon that it had noted intermittent online banking issues for some customers, and was looking to sort the trouble as soon as possible. A spokesperson said: “We are aware that some customers are experiencing issues logging on to internet banking. We are working hard to resolve the problem and apologise [...]
Lloyds to pay £140m to settle Standard Life Aberdeen row July 22, 2019 Lloyds Bank is to pay Standard Life Aberdeen (SLA) around £140m in a settlement that could end their long-running dispute over an asset management contract. Read more: Standard Life Aberdeen wins dispute with Lloyds The Edinburgh-based investment company would keep control of £30bn of assets for three years as well as receiving the cash payment, [...]
Wall Street rises on stimulus talks as FTSE 100 closes flat February 4, 2021 Wall Street pushed higher this afternoon as investors looked to corporate earnings and signs of progress on more pandemic stimulus. The Dow Jones was up 0.91 per cent, while the S&P 500 and Nasdaq rose 0.86 and 0.88 per cent respectively. It came after the FTSE 100 closed four points lower this afternoon as sterling [...]
HSBC scraps executive floor in Canary Wharf in favour of hot-desking April 19, 2021 HSBC has scrapped the entire executive floor at its Canary Wharf headquarters in the latest change to its post-pandemic working practices. The 42nd floor, which was previously home to executives, will be used for client meeting rooms and collaborative spaces while top managers will hot desk on the open-plan 40th floor. “Our offices were empty [...]