Millions of homeowners will see mortgage rate rises as ‘softer’ house price growth forecast December 16, 2021 Major banks have hiked mortgage interest rates in response to the Bank of England hiking rates 0.15 percentage points to 0.25 per cent. Banks raised rates following the decision on Thursday, meaning millions of households will pay heftier monthly mortgage repayments. Barclays, Halifax, Lloyds Bank, NatWest, Nationwide and Santander will pass on the increase to [...]
PE group in talks to sell Racing Post owner for up to £500m October 31, 2021 Spotlight Sports Group, the media entity that owns British horseracing the Racing Post, is reportedly heading towards a £500m sale at auction, as its private equity owner looks to cash in on the growing capital tied to sports betting data. Exponent Private Equity, which scooped up the horseracing publication in 2016, has begun talks with [...]
City Moves: Who’s switching jobs in the Square Mile this week? February 2, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. finnCap Group finnCap Group has posted an HR veteran to its board, who has joined as a non-executive director. Annette Andrews brings some three decades worth of experience to the role, from across Lloyd’s of London, which [...]
UK firms bank on London’s status as top financial centre September 13, 2021 More than two thirds of the UK’s financial firms believe that London will retain its status as one of the world’s leading financial centres after Brexit. When Britain completed its exit from the EU in December last year, it divorced from its biggest single export customer, casting doubts over its status as a leading global [...]
Euro 2020 fails to trigger surge in spending on pints June 25, 2021 Euro 2020 has failed to trigger a burst in spending at pubs and restaurants, reveals new research. Spending in pubs and restaurants in the first 13 days since Europe’s flagship international football tournament kicked off was eight per cent lower than the 13 days before, according to debit card spending data from Lloyds Bank. The [...]
CMA rebukes four banks for failing to provide correct information to customers July 25, 2024 The competition watchdog has publicly rebuked four banks for failing to comply with rules ensuring lenders provide clear and up to date information to their customers.
Former BT chief Du Plessis selected to take over as audit watchdog chair December 21, 2021 Jan du Plessis, the former Chairman of BT as well as a host of FTSE 100 companies, has been selected as chair of the UK's audit watchdog.
Is HS2 holding up the UK’s construction industry? Output up but housebuilding continues to fall April 6, 2023 Civil engineering rose at its highest level since 2009 in March, according to a leading global index which measures the monthly construction output of the UK economy. At 50.7 in March, the headline seasonally adjusted S&P Global /CIPS UK Construction Purchasing Managers’ Index (PMI) – which measures month-on-month changes in total industry activity – was [...]
Lloyds sued by customers sold mortgages linked to house prices September 6, 2021 Lloyds Banking Group is being sued by 150 homeowners who were sold mortgages tied to house price appreciation. The case has been brought against the Bank of Scotland, now part of Lloyds, in the High Court. It pertains to shared appreciation mortgages which were sold to thousands of customers in the late 1990s, the product [...]
FTSE 100 stocks to watch January 20, 2022 With January underway, we look at two high volume FTSE 100 stocks that you should keep an eye on in the coming months. 1. Lloyds In mid-December 2019, Lloyds was worth a respectable 64p per share. But after the pandemic-induced mini-crash, it had collapsed to 25p by September 2020. But after significant volatility, it’s recovering in the [...]