Lloyds costs soar as lender increases provisions after tariff turmoil May 1, 2025 Lloyds Banking Group’s profit took a hit in the first three months of the year as the domestic-focused bank’s operating costs soared. The FTSE 100 giant, which includes Lloyds, Halifax and Bank of Scotland, met analyst expectations for pre-tax profit at £1.5bn – marking a seven per cent drop from the first quarter of 2024. [...]
Labour to be handed ‘spying powers’ on bank accounts in Fraud Bill April 30, 2025 Labour is facing fresh questions over its Fraud Bill, which has been slammed for handing the government “spying powers”. The legislation, which passed in the Commons on Wednesday, bulks up the Department for Work and Pensions’ (DWP) ability to recover money directly from fraudsters’ bank accounts. The DWP pledged the reforms would deliver “the biggest [...]
Barclays boss breaks from FTSE 100 peers on Reeves lobbying April 30, 2025 The chief executive of Barclays has defended the ring-fencing regulation facing British banks, despite his FTSE 100 peers calling on the Chancellor to abolish it. CS Venkatakrishnan told Sky News on Wednesday morning that the benefits of protection offered by the rules outweigh the costs of implementing and administering the system. The UK’s ring-fencing regime [...]
Barclays shares jump as investment arm cashes in on market storm April 30, 2025 Barclays enjoyed a bumper first three months of 2025 as its investment and private banking arms cashed in on market volatility. The bank’s share rose over 1.5 per cent during early trading on Wednesday. The FTSE 100 giant’s investment bank bolstered income by 16 per cent to £3.9bn, compared to £3.3bn from the same period [...]
HSBC shares jump as lender ups bad loan provisions after tariff chaos April 29, 2025 HSBC shares rose in early trading after the lender increased provisions for loan losses in its first-quarter report. The FTSE 100 giant’s stock jumped two per cent as trade war woes clouded the lender’s results. The bank raised expected credit losses to $876m (£653m), from $202m in a stark indication of firm’s outlook on the [...]
Bank of England ‘killing’ UK stablecoin ambitions, body warns April 29, 2025 The Bank of England risks “killing” London’s potential to become a global hub for stablecoins with its “prescriptive” rules, an industry body has warned, as it called for the rapid creation of a regulatory regime to support use of the digital assets. London’s dominance of the foreign exchange market, in which it accounts for as [...]
How AI-powered compliance could fight financial crime April 25, 2025 The financial services sector is undergoing a profound transformation, driven by the rapid advancements and accessibility of artificial intelligence (AI). No longer an experimental concept for the future, AI is being deployed at scale today, fundamentally changing how every financial institution operates globally. The rise of generative AI, in particular, has spurred adoption, with around [...]
Shawbrook eyes £5bn Starling merger instead of IPO April 24, 2025 Shawbrook Group is weighing up a £5bn merger with fintech giant Starling, in a move that would be emblematic of a tougher outlook on stock market listings. The mid-cap lender has reached out to Starling in the last two months to initiate talks on a potential deal, as reported by Sky News. The proposal remains [...]
Exclusive: Goldman Sachs International boss joins non-dom exodus April 24, 2025 Goldman Sachs’ most senior banker outside America is joining the growing ranks of wealthy foreigners leaving the UK to avoid the government’s crackdown on non-doms, City AM can reveal. Richard Gnodde, the investment banking juggernaut’s vice chairman, is moving to Milan to avoid changes the Chancellor made to the non-dom regime and foreign-held trusts in [...]
Crisis, debt and a £46bn bailout: Inside Natwest’s return to private ownership April 24, 2025 Natwest is set to end one of British banking’s longest running sagas, as the lender stands inches away from returning to private ownership for the first time in nearly two decades. The FTSE 100 giant has whittled the UK government’s share in the bank to under three per cent, with a full exit expected in [...]