Reserve release boosts Lloyds profits October 28, 2021 The release of reserves set aside to deal with an expected wave of pandemic-induced defaults boosted Lloyds’ profits. Profit before tax at Britain’s biggest mortgage lender in the three months to September climbed around £1bn compared to the same period last year. Lloyds’ bottom line was raised by the release of over £80m in reserves [...]
Santander beats forecasts following strong UK performance October 27, 2021 Spanish bank Santander smashed profit expectations for the third quarter driven by robust lending activity in its mortgage unit. The lender pulled in more than £1.4bn in pre-tax profits in the year to September, up nearly 400 per cent. Over the same period last year, profits were just £299m. A red hot UK housing market, [...]
Budget Day: All eyes are on Rishi Sunak’s tax and spending plans October 27, 2021 With all the briefings that have been taking place since the weekend there would appear to be little in the way of surprises when the Chancellor of the Exchequer gets up to speak later today. Most of the content appears to have already been pre-briefed much to the displeasure of the Speaker of the House [...]
Centrica boss warns of extra £100 energy costs facing UK households October 26, 2021 UK households will face £100 in extra costs following the collapse of multiple small energy firms, warns Chris O’Shea, chief executive of British Gas owner Centrica. Speaking to a House of Lords committee, O’Shea said, “The current retail market failures will put £100 on the bills of every single home in the UK. The CEO argued that [...]
If Sunak’s budget delivers for financial services, they can deliver for the globe October 26, 2021 At Conservative party conference, the Chancellor promised to deliver an economy based on “good work, better skills and higher wages” and embrace “the agility, flexibility and freedom provided by Brexit”. This will create a dynamic, high-tech economy. Financial services are critical to delivering this ambition. The engine of the UK economy has not only withstood [...]
Home sales set to hit highest level since 2007 October 26, 2021 The housing market is set to hit the highest level of sales since 2007, with 1.5m sales forecast for 2021. According to the Zoopla September House Price Index (HPI), combined market activity is set to amount to £473bn in transaction values this year. This is a £95bn hike on 2020. House price growth is currently [...]
All public sector workers to get pay rise after partial 2021 wage freeze October 25, 2021 Millions of public sector workers are set to get a pay rise in this week’s Budget as the UK faces increasing inflation growth. The Treasury tonight said the size of the wage increase will be determined next year after it has been given recommendations from pay review bodies. Rishi Sunak froze pay for all public [...]
Focus On: Brighton – an investors’ paradise October 22, 2021 Thanks to the ability for many people to work from anywhere or pop into a central office on an ad hoc basis, increasing numbers of professionals are moving out of London in search of locations with a less frenetic pace of life – something the seaside city of Brighton will continue to benefit from. “Brighton [...]
Greengage looking to be first merchant bank for the digital finance sector October 21, 2021 CEO Sean Kiernan explains how Greengage bridges traditional fiat currency banking and trading with the emerging digital asset and cryptocurrency sector.
Vodafone creates 7000 news jobs in Europe and Africa October 21, 2021 The UK telecommunications company has unveiled plans to add 7,000 new software engineers to its workforce by 2025.