Ukraine war day four: Russian Army enters country’s second-largest city as fighting continues February 27, 2022 Russian troops have entered Ukraine’s second-largest city of Kharkiv and fighting is under way in the streets, Ukrainian authorities have said. Oleh Sinehubov, head of the Kharkiv regional administration, said Ukrainian forces are fighting Russian troops in the city and asked civilians not to leave their homes. Russian troops approached Kharkiv, which is located about [...]
Bitcoin credit card ban: Virgin Money joins Lloyds Bank with a ban on cryptocurrency credit card purchases February 5, 2018 Challenger bank Virgin Money has banned the purchase of cryptocurrencies like bitcoin on its credit cards, joining the likes of Lloyds Banking Group and US investment banks. A spokesperson said: “Following a review of our policy we can confirm that customers will no longer be able to use their Virgin Money credit card to purchase [...]
Millennials think their pay will go up in 2018 , according to a Lloyds Bank report December 27, 2017 Consumers are feeling more pessimistic about the UK economy than they were at the end of last year, according to a new survey from Lloyds Bank. However, the Lloyds Bank Spending Power Report also shows that millennials are feeling more positive about their own finances. Among a group of18-24 year olds asked about their own [...]
PPI, profit drop, and a mixed 2020: Five takeaways from Lloyds’ results February 20, 2020 Lloyds reported a 26 per cent drop in annual profit on Thursday, with Britain’s largest domestic lender hit by a rise in bad debts and billions of pounds of customer compensation payout. Chief executive Antonio Horta-Osorio said the results demonstrated a “solid financial performance in a challenging external market”, but analysts have described them as [...]
Credit Suisse posts 24 per cent profit jump and merges investment arms July 30, 2020 Credit Suisse hailed a huge 24 per cent rise in net profit today as it revealed its plan to combine its global markets and investment banking divisions. The Swiss banking giant also began a cost-cutting exercise to save around 400m Swiss francs per year. “The measures we outline today are the right ones to further [...]
Lloyds’ away win piles pressure on Skeoch July 26, 2019 A score draw? For Standard Life Aberdeen, that’s probably an overly generous classified check after the final whistle on its £109bn fund management dispute with Lloyds Banking Group. It’s hard not to look at the result as anything other than a come-from-behind victory for Britain’s biggest high street lender instead. The £140m cash sum it [...]
Dormant assets scheme could be expanded following government report April 4, 2019 A scheme to reallocate dormant assets to charitable causes could be extended to the investment and wealth management sector following the publication of a government report. An independent report commissioned by the government found that extending the scheme to other financial services, also including the insurance and pensions sector, could "significantly expand the money available to good [...]
More than 100,000 UK firms apply for ‘bounce back loans’ on first day May 5, 2020 UK banks have reported huge demand for “bounce back loans” on the first day of the new coronavirus lending scheme yesterday, with more than 100,000 of Britain’s smallest businesses applying by this afternoon. The bounce back loan scheme is the latest coronavirus support package for UK firms. Launched yesterday, it offers the UK’s smallest companies [...]
UK manufacturing activity plunges to seven-year low as economic slowdown bites September 2, 2019 UK manufacturing output crashed to a seven-year low in August as Brexit doubts intensify and a wider economic slowdown hurts firms, according to a closely followed measure of sector activity. Manufacturing output plunged to its worst level since 2012 last month, according to IHS Markit’s Purchasing Managers’ Index (PMI). Read more: Toyota to halt production [...]
FTSE 100 edges higher after Covid sparks sharp sell-off October 29, 2020 The FTSE 100 rose slightly this morning after tumbling three per cent yesterday as investors braced themselves for a tough winter of rising coronavirus cases and new government restrictions. London’s main stock index climbed was last up 0.3 per cent at 5,600 points. Despite the slight gain, the index remained at around a six-month low. [...]