Bank of England says UK’s big banks passed stress test and are ‘resilient’ to rising rates July 12, 2023 The UK’s largest lenders passed the Bank of England’s stress tests with flying colours, even as concerns grow around the health of the mortgage market. In its latest stress test, the Bank of England concluded that banks were “resilient”, enabling them to withstand persistently higher inflation and a deep global recession. “The UK banking system [...]
Banks to snub Treasury meeting as UK oil and gas sector struggles for financing August 20, 2023 The UK’s oil and gas sector faces the growing prospect of a cash crunch, with the Treasury’s latest attempts to lure lenders unlikely to succeed.
FTSE 100 close: London ticks up on economic data, banking stocks pare losses October 24, 2023 London’s FTSE indices closed higher on Tuesday, paring losses from this morning as investors mulled key economic data and the state of the UK’s banking sector. The blue-chip FTSE 100 traded 0.2 per cent higher at 7,389.70, while the mid-cap FTSE 250 dropped 0.38 per cent to 16,994.10. Investors weighed S&P Global’s Purchasing Managers’ Index, [...]
Regulator warns firms over provisions for motor finance claims April 12, 2024 It said it had "observed firms taking different approaches to account for the potential impact of previous use of DCA on their financial resources."
TSB boss Debbie Crosbie’s salary falls to £1.17m after ‘challenging’ year February 3, 2021 TSB chief executive Debbie Crosbie banked a cool £1.17m last year but it marked a fall on the previous year as the high street bank nursed a hefty loss. This week TSB reported a £204.6m annual loss, nearly twice as big as the £105.4m loss it suffered in 2018 after its IT meltdown. The bank [...]
Lloyds Bank boss summoned by MPs to explain pension pay perks despite easing shareholders’ concerns May 23, 2019 Lloyds Bank boss Antonio Horta-Osorio has been summoned by MPs to explain the pension contributions paid to the bank’s executives. The bank avoided a shareholder revolt over pension pay last week despite MPs accusing bosses of “boundless greed” on the eve of its annual meeting. Read more: Lloyds Bank avoids pension pay revolt but faces [...]
UK bank compensation scheme faces leadership vacuum after recruitment delays September 18, 2024 The institution that protects government-guaranteed deposits in failed banks is facing questions over its future leadership after multiple setbacks to recruiting a new chair and permanent chief executive, City A.M. can reveal.
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.
FCA fines fall by half in 2020 as Covid takes hit on enforcement December 21, 2020 The Financial Conduct Authority handed out £183.6m worth of fines this year, more than half the total bill in 2019. The number of fines has fallen too, from 21 to just ten. Lawyers believe the slowdown is due to the pandemic disrupting enforcement activities, not least the FCA’s ability to conduct witness and suspect interviews. [...]
Hundreds of ‘erroneous’ Companies House filings reveal widespread misinformation on big firms March 5, 2024 Hundreds of "erroneous" filings made at Companies House have raised fears over a sophisticated fraud targeted at banks and other financial providers.