M&S aims to launch banking and loyalty ‘superapp’ in long-term commitment to financial services March 17, 2024 Marks & Spencer (M&S) is reportedly close to a seven-year agreement with HSBC to overhaul its banking division as a financial services and loyalty "superapp".
Government proposes ‘debanking’ law after Farage Natwest row and surge in complaints March 14, 2024 The UK government has proposed a law that would force banks to give customers more advanced notice and an explanation before closing their accounts, following a surge in complaints over "debanking" and a row between Natwest and former Ukip leader Nigel Farage.
OneSavings Bank shares tank as profit slumps on mortgage customers racing to refinance March 14, 2024 OneSavings Bank has posted a slump in annual profit after the bank took a £181.6m hit from changing customer behaviour, while it has softened the blow to investors by announcing a new £50m share buyback.
Anne Boden: ‘Things haven’t got much better for women in tech in 40 years’ March 14, 2024 Former Starling Bank chief Anne Boden sits down with City A.M. to discuss her early career, sexism in the City and life beyond the bank.
Lloyds to sell £6bn of Scottish Widows bulk annuities to Rothesay March 13, 2024 After the transfer, policyholders included in the sale will begin to receive benefits normally.
Tom Hayes and Carlo Palombo: Criminal appeal to start for ex-UBS and Barclays traders convicted of rigging March 13, 2024 Both men were investigated and prosecuted by the Serious Fraud Office (SFO) along with others in the Eibor case.
Lending to small and mid-sized firms drops for third straight year as banks pull back March 13, 2024 Lending to small and medium-sized enterprises (SMEs) dropped for a third straight year in 2023, according to new data, as businesses ditch big banks for specialist lenders.
Metro Bank swings to first annual profit since 2018 while slashing 1,000 jobs March 13, 2024 Metro Bank has swung to its first annual profit since 2018 after the branch-focused lender was rescued from potential collapse by a major refinancing package and embarked on a restructuring set to involve 1,000 job cuts.
Starling Bank poaches Big Six energy boss ahead of planned London listing March 12, 2024 Digital challenger Starling Bank has appointed OVO boss Raman Bhatia as its permanent chief executive, taking over from interim CEO John Mountain.
Mortgage arrears surge 50 per cent to seven-year high as Brits squeezed by higher rates March 12, 2024 The proportion of UK mortgages in arrears rose to its highest level since 2016 at the end of 2023, according to data from the Bank of England, as borrowers are squeezed by high interest rates and household costs.