Barclays cut 5,000 jobs in 2023 in bid to ‘simplify and reshape’ January 8, 2024 Barclays axed roughly 5,000 positions from its 84,000-strong workforce in 2023, with about a quarter of these in its UK operations, the bank confirmed yesterday.
Bad debt and high interest rates set to drag on US banks’ earnings January 8, 2024 Lenders are rebounding from share price dips in October as the US economy shows signs of resilience and the central bank pencils in multiple rate cuts this year.
French finance minister looks to ‘take advantage of Brexit’ and lure firms to Paris January 8, 2024 “We were able to take advantage of Brexit to attract the world’s biggest financial establishments to Paris,” Le Maire said today.
Mortgage options reach 16-year high as banks offer lowest rates since June January 8, 2024 The number of mortgage options for borrowers has reached its highest level in almost 16 years, according to financial information website Moneyfacts, as banks slash rates to compete for business in a smaller market.
Bob Diamond says Barclays should be ‘radical’ on investment bank amid calls to ditch division January 7, 2024 Former Barclays chief executive Bob Diamond has called on the lender to be “radical” with its investment bank by either putting more money into the business or selling it.
UK banks set for strong earnings in 2024 despite margin pressures, S&P says January 4, 2024 UK banks are set to see strong earnings in 2024, according to ratings agency S&P, due to robust credit fundamentals and easing margin pressures.
Government quietly lowers stake in Natwest as it crystallises loss for taxpayers January 3, 2024 The government has quietly sold nearly 1.03 per cent of its shares in Natwest as it continues to reduce its stake in the bank since bailing it out during the financial crisis.
Brits urged to act as a quarter have never switched savings account despite record rates January 3, 2024 Savers have been urged to be more proactive as new research shows that nearly a quarter have never switched to a different savings account or opened an additional one.
Why Deutsche Bank reckons the UK economy will avoid a recession in 2024 January 3, 2024 The UK economy outperformed all expectations in 2023, but it was hardly a vintage year. Here are some reasons why 2024 might be better.
Simmons & Simmons awarded £3m Bank of England legal contract January 3, 2024 The law firm won the BoE's flexible legal resourcing contract late last month, with a value up to £3m running for two years until 19 December 2025.