Campaigners warn childcare costs holding back careers in the City and beyond June 13, 2022 CAMPAIGNERS have warned “uniquely high” childcare costs are holding back not just the City’s diversity drive but economic growth. A new study by union the TUC suggests the average nursery bill for a family with a toddler was just shy of £5,000 in 2010 but has grown to more than £7,000 just a dozen years [...]
Nationwide profit more than doubles as UK economy recovers November 19, 2021 Nationwide has reported that its profits more than doubled for the half-year, amid the UK's economic recovery.
FTSE 100 close: Powell interest rate warning drags London index into the red March 7, 2023 London’s FTSE 100 was muted today as investors sweat over whether Fed chair Jerome Powell’s warning that US interest rates will stay higher for longer means other central banks will follow suit. The capital’s premier index closed 0.13 per cent lower at 7,919.49 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned [...]
Sunak: BoE will ‘act forcefully’ on inflation and govt will ‘be responsible with borrowing and debt’ June 22, 2022 Rishi Sunak sought to reassure people following a 40-year high in UK inflation to 9.1 per cent, insisting the Bank of England will “act forcefully” to counter the rise. The BoE, which is independent of government, has been criticised for not being quick and decisive enough about rising costs of living, with members of the [...]
Britain’s biggest banks in higher interest rate profit boost as earnings season kicks off April 24, 2022 Profits at Britain’s biggest high street lenders have been boosted by the Bank of England hiking interest rates to tame historic high inflation. That’s according to top City analysts who are forecasting the UK’s largest banks to have reaped the rewards of being able to charge borrowers more for loans. A higher interest rate environment [...]
Thousands more homeowners to be refunded after ground rents doubled August 24, 2022 Press Association Thousands more homeowners who paid a doubled ground rent on their property will receive a refund after the competition watchdog cracked down on “unfair” leasehold practices. More than 5,000 households in the UK will be compensated after being caught in contracts that saw their ground rents double in price every 10 years. Many [...]
Week ahead: City eyes housing stats and BoE governor Bailey remarks June 26, 2022 The UK’s red hot housing market is set to revert to more normal territory driven by the cost of living crunch chilling demand for homes, fresh data released this week that will be closely watched by the City. London’s premier FTSE 100 index has rebounded after suffering bruising losses of late caused by investors around [...]
Britain’s 1.6m temp workers risk missing out on close to £100m in unclaimed holiday pay January 5, 2023 Amid a 40-year inflation high, soaring energy bills and rising mortgage payments, Britain’s 1.6m temporary workers have been urged to claim an estimated £97m worth of unclaimed holiday pay from employment agencies and umbrella companies engaging them. The urgent call comes from a support group for independent workers, IWORK, that has brought to light that many of the UK’s flexible workforce are [...]
Hefty £1.5bn trading error legal charge erodes Barclays profits July 28, 2022 A £1.5bn legal charge for a trading error has eroded British bank Barclays’s profits, it announced today. Hefty litigation and regulatory costs to deal with selling too many financial products dealt a major blow to Barclays’s first half earnings. Pre-tax profits dropped by a quarter to £3.7bn in the six months to June, down from [...]
Seven things banks will be looking out for in 2024 December 31, 2023 A challenging year is in the offing for lenders – from regulatory reform to fraud crackdowns