Barclays and HSBC bankers donate over $500k in US midterms Banking Barclays and HSBC bankers donated over half a million dollars to US political candidates ahead of the midterm elections. Bankers who are employed at the two UK-headquartered giants flooded cash into US political figures as millions of Americans headed to the polls. Donors listing Barclays or one of its subsidiaries as an employer contributed just [...]
Barclays and Natwest layoffs signal start of banking’s AI job squeeze Banking Barclays, Natwest, Lloyds and HSBC toasted to a £14n profit haul in the third-quarter but sweeping job cuts stole the show. Samuel Norman takes a look at what the last three months signal for the sector’s future. As bank leaders stepped up to the podium for third-quarter earnings, the agenda had already been set for [...]
Banks battle for mortgages ahead of looming interest rate hike Banking Britain’s biggest banks are battling for mortgage market share on razor-thin margins even as borrowers rush to remortgage ahead of looming interest rates hikes. The central bank is expected to lift its base rate to four per cent on Thursday – its first hike in three years – following a sharp resurgence in inflation. The [...]
Natwest shares slump after muted quarter October 30, 2026 Natwest shares fell after the bank delivered its third-quarter following a muted quarter for profit growth. The FTSE 100 bank recorded a pre-tax profit of £2.2bn, broadly in line with internal consensus and up 1.9 per cent from the same period last year. Its stock fell some four per cent to 611p in early trading. [...]
Natwest and Nationwide set for biggest profit hit from Healey’s bank tax raid October 29, 2026 Natwest, Nationwide and Lloyds are set to feel the biggest hit to profit from John Healey’s bank tax raid, analysts have said. The trio of British banks, which have a larger domestic focus than their peers HSBC and Barclays, are the most exposed to Healey’s doubling of the surcharge, according to analysts at RBC. The [...]
Healey tells Bailey to loosen UK banking regulation after tax hike October 29, 2026 John Healey has told Bank of England governor Andrew Bailey to loosen banking regulation “as quickly as possible” after the government raised taxes on the sector in the Budget. The Chancellor wrote to Bailey following the Budget with a direction for the Financial Policy Committee (FPC) to balance its stability mandate with support for economic [...]
Lloyds shares fall after high interest rates boost income October 29, 2026 Shares in Lloyds Banking Group tumbled on Thursday morning after the bank beat profit expectations in the third-quarter after a boost from high interest rates and a reduction in its cost base. The FTSE 100 giant reported a £2.3bn pre-tax profit for the latest three months, up nearly 99 per cent on last year’s figure. [...]
JP Morgan slams Healey for bank tax hike that ‘lacks principle’ October 28, 2026 JP Morgan has slammed the Labour government for raising taxes on the UK banking sector and said the move “lacks principle”. Wall Street’s biggest bank, which serves over 2.5m UK users through its retail arm Chase, said it is “committed” to the UK but raised concern over the targeting of the sector in John Healey’s [...]
Santander UK turns to more cost-cutting after profit slip October 28, 2026 Santander UK said it expects to make more “efficiencies” after its profit slipped in the first nine months of the year due to a drag from restructuring costs and motor finance costs. The UK arm of Spain’s Banco Santander reported a £1.2bn pre-tax profit for the nine months ending 30 September, down six per cent [...]
HSBC ‘encouraged’ by Burnham agenda despite tax threat and growth downgrade October 27, 2026 HSBC’s finance boss said the bank is “very encouraged” by Andy Burnham’s agenda, despite slashing its UK growth forecast ahead of a potential tax raid. Pam Kaur, HSBC’s chief financial officer, said: “The UK is our home market, our focus in the UK is supporting customers with their growth ambitions.” But when asked about a [...]