Lloyds loses mortgage market share as HSBC and RBS rise July 18, 2018 Lloyds lost market share in UK mortgages last year as Royal Bank of Scotland (RBS), HSBC and a host of challengers gained, according to new data published today. Competitors to Lloyds bit off almost one per cent of their market share, which fell from 22.1 per cent to 21.2 per cent of mortgage balances outstanding [...]
No need for disclosure of Bank of England emergency funding to Lloyds investors in HBOS deal, Sir Victor Blank tells court November 30, 2017 Investors in Lloyds bank at the time of its merger with HBOS did not need to be told about emergency funding provided by the Bank of England (BoE), former Lloyds chairman Sir Victor Blank today told the High Court. Blank was giving evidence at a £550m legal case brought by shareholders who allege they were [...]
Bank demand leaves Thomas Cook exploring options September 19, 2019 Thomas Cook is looking at its assets as it attempts to stave off demise, reports tonight say, after lenders demanded significant contingency funding. Sky News’ Mark Kleinman has been told by insiders that “every possible option” is on the table as they look to salvage some 20,000 jobs. Kleinman reports the 178-year-old holiday giant has [...]
Challenger bank TSB unveils raft of leadership appointments as CYBG’s Debbie Crosbie begins her reign May 22, 2019 Challenger bank TSB has further bolstered its leadership team following the arrival of new chief executive Debbie Crosbie. The former CYBG chief operating officer took charge earlier this month, replacing Paul Pester who stepped down last year in the aftermath of a major IT meltdown. Read more: TSB launches fraud guarantee for customers after last [...]
Paul Drechsler pledges to use Brexit as opportunity for business as he swaps CBI for London First May 25, 2018 The Confederation of British Industry president Paul Drechsler is to become chairman of lobby group London First, pledging to use Brexit as an opportunity to improve the environment for the capital’s businesses and residents. Drechsler will take on the reins on 1 July, after his three-year term at the CBI concludes. He is taking over [...]
Lloyds announces £3bn investment in new digital strategy March 21, 2018 Lloyds Banking Group today launched a new £3bn investment in a three-year strategy of upgrading the bank's digital capabilities as it looks to slash costs and prepare itself for the expected wave of competition as challenger banks and fintechs gain momentum. The bank wants to cut costs below £8bn by 2020, translating into cuts of [...]
HSBC’s women are paid 60 per cent less than men March 15, 2018 HSBC’s female staff in the UK are paid 60 per cent less than men, according to gender pay gap data which reveal one of the biggest differences among the big banks who have reported so far. The 60 per cent mean pay gap for hourly pay increased from 59 per cent in 2017, although for [...]
City of London brings out new rules to tackle wind-inducing skyscrapers August 20, 2019 The Square Mile may be famed for its financial clout and history, but in recent years it has also been known for other elements: extreme wind. The City of London Corporation has become so concerned about pedestrians and cyclists being toppled over in the street by the skyscrapers that adorn its skyline that it is [...]
Lloyds and PwC face £55m court case from motor dealer who says the firms forced it out of business February 25, 2018 Lloyds Banking Group and accountants PwC face a £55m legal battle with a motor dealership which will allege they colluded to force it out of business. Yorkshire-based Premier Motor Auctions will argue Lloyds used its Business Support Unit as a profit centre to extract money from struggling firms, according to the Sunday Telegraph. Premier, led [...]