Banks face tougher competition as profits boost from higher rates fades October 30, 2023 The UK’s major listed banks have warned that the tailwind from high interest rates that has driven bumper profits over the past year is coming to an end as lenders compete to offer better deals to customers. Barclays, Lloyds, NatWest, Standard Chartered and Santander reported third-quarter earnings last week, while HSBC released its results today. [...]
Interest rate boost slowing for banks as changing customer behaviour cuts margins July 30, 2023 The UK’s high street banks have warned that the boon from rising interest rates might be coming to an end as changing customer behaviour and an increasingly competitive mortgage market hits margins. Natwest, Barclays and Lloyds recorded bumper profits last week, but investors were dismayed by the more cautious outlook. Both Natwest and Barclays UK [...]
Auto finance industry could face £16bn in compensation payouts from FCA probe January 25, 2024 UK auto lenders could be hit by up to £16bn in compensation payments after the City watchdog confirmed its probe in historic commission arrangements would look at cases going back to 2007.
Julius Baer records £6.4bn in new money after Credit Suisse collapse July 24, 2023 Swiss private bank Julius Baer has reaped the rewards of Credit Suisse’s collapse as it reported net inflows in the first half of the year. In the six months to June, the bank attracted CHF7.1bn (£6.4) in new money from wealthy clients, helping to bring assets under management to CHF441bn. This compared to net outflows of [...]
Bank of England to hold rates again – but it could signal a summer cut is on the cards May 6, 2024 The Bank of England is set to leave interest rates on hold again on Thursday, but policymakers could signal a willingness to cut rates in the near future if inflation continues to fall.
Bonus cap: Bankers and nurses both work hard, but you shouldn’t compare their pay August 13, 2024 As UK banks start scrapping the bonus cap, Emma Revell argues why this is a good thing – and what the NHS could learn from it People hate bankers almost as much as they love the NHS. So unsurprisingly, the return of big bonuses to City pay packets is not without controversy. In what may [...]
Telegraph takeover ‘completely unacceptable’ says former MI6 chief December 10, 2023 A former MI6 chief has sounded the alarm bells over what he calls a potentially calamitous foreign takeover of The Telegraph.
Virgin Money faces potential shareholder revolt over £2.9bn Nationwide deal May 14, 2024 Virgin Money shareholders could be getting a better deal as part of the £2.9bn takeover bid from Nationwide, analysts have said ahead of a vote on the offer next week.
Banking stocks are back: Natwest leads FTSE 100 in 2024 as lenders beat expectations May 2, 2024 Just three months after Bank of England governor Andrew Bailey called their weak share prices a “puzzle”, the UK's biggest banks have buoyed investors with impressive returns.
Restaurants hit by August wash out as firms pray for sunny September rebound September 5, 2023 Restaurants were hit hard by the wet weather in August suffering a 5.8 per cent monthly decline in sales, new data has revealed.