Lloyds Banking Group eyes Berlin for new EU base post-Brexit February 13, 2017 Lloyds Banking Group is closing in on Berlin as its new EU hub post-Brexit. It was reported last December that the bank, which is the only major UK retail lender without a subsidiary in another EU country, was looking into establishing a base in either the Netherlands or Germany to make sure it still had access [...]
Lloyds Bank bumps up its bonus pool on healthy pre-tax profits February 22, 2017 Lloyds Banking Group has boosted its bonus pool, after reporting its statutory pre-tax profits had more than doubled for 2016. The bank's bonus outcome rose to £392.9m for 2016, up from £353.7m in 2015. However, Lloyds' bankers could have been in line for more – the lender also revealed today it had skimmed 19 per [...]
TSB mortgage accounts and some payments still not functioning properly as computer problems enter third week May 7, 2018 Computer problems at TSB have continued into their third week with customers still unable to access their mortgage accounts online. Upcoming credit card payment information is also unavailable online for some customers, leaving them in the dark if they do not have paper statements. Some payments through the mobile app and internet banking are also [...]
TSB gave business customers 1,500 free Android smartphones to replace card readers prior to IT meltdown May 22, 2018 Under-fire lender TSB handed out around 1,500 free Android smartphones to business banking customers – ones which were rendered almost useless amid the lender’s calamitous IT upgrade. Firms were offered free phones to replace card readers as part of TSB’s planned lift-out from legacy Lloyds Bank systems. TSB wrote to businesses informing them card readers [...]
Fintech startup Wagestream picks up £15m from Balderton and Northzone May 20, 2019 London fintech startup Wagestream has today closed a £15m series A funding round, co-led by venture capital investors Balderton Capital and Northzone. The round was raised in addition to a credit facility of up to £25m Shawbrook Bank. At £40m, Wagestream chief executive Peter Briffett said the total amount raised marks the largest single social impact [...]
UK’s biggest companies pull away as profits for rest of pack plunge May 8, 2019 Average profits at the UK’s 40 biggest companies rose by 11 per cent in the first quarter of the year while those outside the group saw a fall of 18 per cent, new analysis has shown, laying bare a stark division in the fortunes of British companies. Read more: 'Zombie firms' dragging down UK economy, [...]
UK’s biggest companies pull away as profits for rest of pack plunge May 8, 2019 Average profits at the UK’s 40 biggest companies rose by 11 per cent in the first quarter of the year while those outside the group saw a fall of 18 per cent, new analysis has shown, laying bare a stark division in the fortunes of British companies. Read more: 'Zombie firms' dragging down UK economy, [...]
Retail sales growth beats analysts’ expectations March 22, 2018 Retail sales grew by 0.8 per cent in February, beating analysts’ expectations. However, in the three months to February, sales fell by 0.4 per cent, according to the Office for National Statistics. This was due to a sharp drop in sales in December. The bump was largely due to growth in groceries, fuel and online [...]
Housebuilders remain optimistic about business growth over the next five years January 29, 2018 British housebuilders are setting ambitious growth plans as they remain optimistic about the future, despite uncertainty caused by Brexit. Confidence in the industry’s future remained relatively steady, dropping slightly to 6.9 from 7.2, with 10 representing the highest level of expectation, according to an annual report from Lloyds Bank. Despite grappling with a skills shortage [...]
Global markets tumble as US bond yields unnerve investors April 25, 2018 Global equity markets have tumbled amid worries that growing US treasury yields will increase interest rates and drive up borrowing costs. The American treasury yields hit their highest level in nearly four years, brushing just over three per cent yesterday, due in part to rising inflation and worries over a more assertive Federal Reserve. Read [...]