FTSE 100 edges into the green as Wall Street opens higher on tech bounce September 10, 2020 The FTSE 100 edged into the green as US stocks opened higher as a bounce in tech stocks overshadowed the high number of jobless claims. London’s blue-chip index climbed 0.19 per cent after spending most of the session in the red in anticipation of the ECB’s rates decision. The FTSE 250 of smaller-cap firms rose [...]
Britain’s biggest banks warn coronavirus pandemic will hit income March 17, 2020 Some of the largest banks in Britain have warned the coronavirus pandemic will hit their already under-pressure earnings, with a decline in economic activity eating into fee income. Lloyds will delay part of a £3bn technology investment programme in response to the coronavirus pandemic to maintain its capital levels, its chief executive said today, as [...]
UK banks ‘draw up code of conduct’ for coronavirus business loan defaults July 6, 2020 UK banks are reportedly drawing up a code of conduct for pursuing businesses that default on government-backed coronavirus interruption loans, amid concerns that a high proportion of the loans will never be repaid. Industry body UK Finance and the state-owned British Business Bank (BBB) have begun talks with commercial lenders in the hope of setting [...]
UK economy ‘close to stagnation’ despite service sector growth June 5, 2019 The UK service sector beat analysts’ expectations to reach a three-month high in May, according to survey data released today by IHS Markit and the Chartered Institute of Procurement & Supply (Cips). Read more: UK manufacturing sector shrinks to 34-month low Nevertheless, IHS Markit said the UK economy is “close to stagnation” as Brexit and [...]
COP26: Is the City ready for its leading role in the fight against climate change? April 10, 2021 Windows were smashed at Barclays headquarters this week by climate activists who urged the bank to cut its climate destructive investments. Last week campaigners painted the Bank of England (BoE) black in a bid to raise the alarm on the institution’s funding of Big Oil. Where money goes within the City is under more scrutiny [...]
£2bn of ‘bounce back’ loans for SMEs approved in first 24 hours May 6, 2020 More than 69,000 so-called coronavirus bounce back loans were approved on the first day of them being made available via banks. The approvals equate to over £2bn in loans during the first 24 hours of the bounce back scheme’s launch on Monday, chancellor Rishi Sunak said today. The seven largest UK banks including HSBC, Barclays, [...]
Barclays approves over 32,000 ‘bounce back’ loans May 5, 2020 Barclays has approved over 32,000 “bounce back” loans since the scheme was launched yesterday. Yesterday, the bank said it received 35 loan applications per minute when the government launched the new scheme. Barclays UK chief executive Matt Hammerstein told a House of Commons committee that the bank had received 200 applications within minutes of opening [...]
UK banks announce lending support for coronavirus-hit firms March 10, 2020 Some of the UK’s biggest banks have announced measures to help businesses and customers to cope with the economic impact of the coronavirus outbreak. Britain’s largest high-street lender Lloyds said it would offer £2bn of loans without fees to small firms hit by the virus, and said some of the worst-affected businesses would be offered [...]
Sexy suggestions and innuendo in ads: Does “sex sells” really help in marketing? May 13, 2019 We all know the old adage “sex sells” – the received wisdom that using sexual imagery and titillation can boost a brand and sell its products. But times have changed. Today, overt sexualisation in ads is rightly seen as a crude tactic, and marketers have changed their approach. Lynx body spray commercials no longer feature [...]
Tesco CEO: Analysts react to Dave Lewis’ shock departure October 2, 2019 Tesco chief executive Dave Lewis this morning made the shock announcement that he is preparing to step down, saying the supermarket giant’s turnaround is complete. Lewis cited personal reasons for his decision and declared that five to six years is an appropriate tenure for a chief executive. Read more: Tesco CEO Dave Lewis quits Boots [...]