Co-op Bank says transformation plan ‘materially complete’ ahead of agreed £780m Coventry merger May 2, 2024 The Co-operative Bank has said its multi-year transformation plan is "materially complete" as the lender progresses with an agreed £780m takeover by Coventry Building Society.
Standard Chartered shares jump to six-month high as bank breezes past profit estimates May 2, 2024 Standard Chartered has sailed past estimates with a 25 per cent jump in profit on the back of interest rate hikes and a solid performance from its trading and wealth divisions.
Banking stocks are back: Natwest leads FTSE 100 in 2024 as lenders beat expectations May 2, 2024 Just three months after Bank of England governor Andrew Bailey called their weak share prices a “puzzle”, the UK's biggest banks have buoyed investors with impressive returns.
City lawyer urges the government to ‘take back control’ of the FCA May 2, 2024 A City lawyer launched an extraordinary call for the government to “take back control” of the regulator yesterday after Jeremy Hunt rounded on the FCA over its plans to name firms under investigation. The Chancellor told the FT he hoped the Financial Conduct Authority (FCA) would “re-look” at its decision to make public the subjects of its [...]
Petition against DWP’s plans for bank ‘mass spying’ powers nears 200k signatures May 2, 2024 An online petition calling on the UK government to abandon plans for "mass bank spying powers" has received more than 167,000 signatures as privacy campaigners slam new measures to combat fraud.
Barclays starts to cut hundreds of jobs in cost-saving bid and investment bank shake-up May 1, 2024 Barclays has reportedly started cutting hundreds of roles, including at its investment bank, as the group looks to cut costs and improve its share price.
Former Bank of England governor Lord Mervyn King named as next MCC president May 1, 2024 The former governor of the Bank of England, Lord Mervyn King, has been unveiled as the next president of the Marylebone Cricket Club (MCC), home to Lord’s. King, who led Threadneedle street between July 2003 to 2013, called the appointment an ” extraordinary honour”, and will take over from current head, former professional player Mark [...]
Takeover bids, millionaire CEOs and angry members: Building societies are looking a lot like the big banks May 1, 2024 Runaway profits, big-ticket acquisitions and bumper executive pay rises, Britain's building societies are starting to look a lot like banks.
Banks drive finance complaints up by a fifth as ‘unaffordable’ credit cards slammed May 1, 2024 Issues with banking and credit cards drove official finance complaints up nearly a fifth in the second half of last year, new figures show, as customers were hit by fraud and "unaffordable and irresponsible lending".
BBVA approaches TSB owner over £60bn Spanish bank merger April 30, 2024 Banco Bilbao Vizcaya Argentaria (BBVA), the second-largest bank in Spain, has approached smaller domestic rival Banco Sabadell over a merger that could create a group worth roughly €70bn (£60bn).