UK banks set to report record profits of £37bn beating pre-financial crisis highs February 13, 2023 The UK’s top banks are set to unveil record profits in the next two weeks after sharp interest rate hikes boosted the lenders’ coffers last year. The big five FTSE 100 banks – Barclays, HSBC, Lloyds, NatWest and Standard Chartered – could post cumulative pre-tax profits of £37.4bn as they reveal their earnings for 2022, [...]
FTSE 100 close: Banks regain ground amid interest rate concerns as Vodafone slumps June 26, 2023 London’s FTSE 100 was dragged into the red today, driven by Britain’s largest banks struggling amid concerns about how much higher UK interest rates will go and Vodafone tumbling. The capital’s premier index fell 0.11 per cent to 7,453.59 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of [...]
Global tech outage: First real test for cyber insurance market July 24, 2024 The world suffered from a technical crash on Friday which left airlines grounded and affected business, but who will cough up for the interruption?
Lloyd’s of London hires former QBE chief John Neal as new CEO September 7, 2018 John Neal has been appointed as chief executive of Lloyd's of London, succeeding Inga Beale, who had been in the role since 2013. His appointment was ratified after a meeting of the Council of Lloyd's where his appointment was unanimously approved. He will begin his new role at Lloyd’s on 15 October 2018. Previously John Neal [...]
Recession off the cards, getting over 50s ‘back to work’, strikes and banks take stock – the five best read stories on City A.M. this week March 17, 2023 It was the week UK Chancellor Jeremy Hunt laid out his first Spring Budget, but as pension savers and taxpayers looked on, fears of a recession appeared to fade, although the sagas of banks Silicon Valley Bank, Credit Suisse and on-going strikes raged on; here are the stories readers were flocking to on City A.M. [...]
FTSE 100 close: Barclays, HSBC and Lloyds retrace losses as Ocado soars July 24, 2023 London’s FTSE 100 retraced early losses today to close in the black, driven higher by online supermarket Ocado surging after it settled a dispute over its warehouse technology. The capital’s premier index climbed 0.19 per cent to 7,678.60 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
The Square Mile Comes Together for the Launch of City Giving Day 2024 March 14, 2024 The Lord Mayor of the City of London Alderman Professor Michael Mainelli and Lady Mayoress Elisabeth Mainelli hosted the Square Mile’s top businesses at Mansion House this week to launch City Giving Day 2024. A firmly fixed date in the Square Mile’s social calendar, the annual event hosted by The Lord Mayor’s Appeal, brings the [...]
Travelex to be put up for sale after post-pandemic rebirth October 10, 2024 Travelex, the world’s largest foreign currency exchange, is expecting to have new owners within the next two years, its chief executive has revealed. Richard Wazacz said the Peterborough-headquartered company will likely change ownership having been taken over by its debt holders in 2020 when the business collapsed into administration. Travelex, which has operations across the [...]
Fully remote workers are least satisfied and most Brits would take a pay cut for flexibility October 20, 2023 Fully remote workers are the least satisfied with their jobs while nearly two thirds of Britons would take a pay cut for more flexibility, according to a new survey. A poll of more than 5,000 UK employees by hiring platform Indeed found just 15 per cent of all workers think more remote working would make [...]
Banks, homebuilders and retailers in focus as London markets brace for Labour election victory June 30, 2024 The UK general election is in focus this week as investors brace for a widely expected Labour landslide that could share price moves across the FTSE 100.