Where are Lloyds and Halifax closing 40 branches in 2023 and what does the high street exodus mean for you? January 20, 2023 Lloyds Banking Group said it will close a further 40 branches this year, as the exodus of banking branches from Britain’s high streets continues. Lloyds will close the doors at 22 branches while there will be 18 closures at Halifax. The branches will be closed between April and June this year. The bank noted that [...]
Bank chiefs hit back at accusations of profiteering on higher interest rates February 7, 2023 Chief executives from the UK’s four largest lenders today hit back at accusations from MPs that they were too quick to charge customers more interest on their mortgages without offering higher rates on savings accounts. The bank chiefs were asked why interest rates on instant savings accounts remain around one per cent while the Bank [...]
Motor finance test cases against Close Brothers and Firstrand head to Court of Appeal July 2, 2024 A test case containing three cases relating to motor finance commission will be heard at the Court of Appeal this week.
City Moves: Who’s switching jobs in the Square Mile? August 17, 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. Royal Park Partners Fintech financial advisory firm Royal Park Partners has built out its leadership team with an ex-Barclays dealmaker. Joining as a senior director, Niccolò Gamaleri will help support fintech founders and private equity-backed companies through [...]
Credit fears send bank shares lower after Bank of England lifts rates by 50bps June 22, 2023 Shares in the UK’s biggest banks today fell after the Bank of England raised interest rates by 50 basis points, heaping more pain onto borrowers. The Bank’s Monetary Policy Committee reverted to a larger rate hike after inflation remained stuck at 8.7 per cent last month. It was the 13th rate hike in a row [...]
BP shares soar as energy giant hikes profit guidance October 12, 2023 Shares in BP have risen robustly in today's trading, with investor sentiment improving towards the energy giant.
RCN union boss warns of more strikes as nurses walk-out for first time in 100 years December 15, 2022 Nurses across Britain will go on strike today, as the dispute over fair pay continues. The walk-out will impact operations at 44 NHS trusts in the country, including Guy’s and St Thomas’ hospitals in London – at the busiest time of year for the NHS. Members of the Royal College of Nursing (RCN) union voted [...]
Figma plots London office expansion despite fresh wave of tech layoffs January 11, 2024 Design company Figma is planning to ramp up its hiring this year in London amid a rapidly growing UK digital design market.
Lloyds could face £3.5bn hit from FCA motor finance probe, analysts warn February 22, 2024 A wide-ranging review of historic motor finance commission arrangements has rocked the UK’s banking sector.
Panmure eyes up merger with top rival finnCap October 17, 2022 Panmure Gordon is eyeing up a merger with its London-listed rival finnCap as the industry grapples with a deal slowdown and increased need to make savings. Investment bank Panmure, which is controlled by Bob Diamond’s Atlas Merchant Capital, is reportedly in early stage talks with the financial services firm, as first reported by Mark Kleinman [...]