Dow Jones slides as FTSE 100 extends losses amid Iran strikes March 2, 2026 Wall Street joined Europe as markets opened on Monday with losses spread across the board as tensions escalated across the Middle East. The Dow Jones dropped nearly one per cent on open to 48,534.58 whilst the S&P 500 shed around 0.7 per cent to 6,828.47. The tech-heavy Nasdaq tumbled 0.7 per cent to 22,505.32. In [...]
Santander names new TSB boss ahead of takeover March 2, 2026 Santander has named the new top boss of TSB Bank as the firm gears up for its blockbuster takeover of the high street unit. The Spanish-headquarted banking giant – which beat out its peers to snap up TSB for £2.6bn last July – appointed Nicola Bannister as the new chief executive of TSB. Bannister ascends [...]
Vanquis boss defends scrapping dividend as bank swings to profit February 26, 2026 The boss of Vanquis Bank has said he makes no apologies for a “conservative” approach to capital distribution as he launched a staunch defence of the group’s decision to axe its dividend for the second consecutive year. Ian McLaughlin, who took the helm at Vanquis in August 2023, said the bank’s “number one priority” was [...]
How HSBC and Standard Chartered are riding high on Asia’s wealth February 26, 2026 London’s banking giants are circling the UK’s wealth management pie. But two other top lenders could be carving out a feast 6,000 miles away. HSBC and Standard Chartered posted hefty bumps to their wealth divisions, driven by a strategic focus on Asia and the Middle East. In financial results shared on Wednesday, HSBC revealed bank-wide [...]
HSBC bonus pot swells to 14-year record despite profit hit February 25, 2026 HSBC announced its bonus pot had swelled to an over decade high on Wednesday despite the bank recording a hit in annual profit as hefty impairment charges helped offset a boom in the bank’s wealth management operations. The FTSE 100 banking titan recorded a seven per cent drop in pre-tax profit for the annual year, [...]
Reeves urged to cut bank tax as UK competitiveness lags February 25, 2026 Rachel Reeves is facing renewed calls to cut tax on the banking sector after new bombshell research laid bare the competitive disadvantage UK lenders are battling against. The Chancellor spared banks from a highly-anticipated fresh tax raid in the Autumn Budget but a new report – penned by the Association for Financial Markets (AFME) and [...]
‘Vulnerable’ Lloyds and Barclays shares dip as tariff turmoil hits FTSE 100 February 24, 2026 Lloyds and Barclays shares tumbled into the red this morning as “vulnerable” City banking stocks got caught in the FTSE 100’s tariff turmoil. The FTSE 350 bank index tumbled over one per cent at open to 8,184.62 as lenders were struck with volatility at the opening bell. Barclays led the slump at over two per [...]
Revolut: Inside Nik Storonsky’s $75bn fintech empire still waiting for its crown February 24, 2026 In Revolut’s shiny new Canary Wharf headquarters, the command ‘Get Sh*t Done’ is bolted onto the walls. The unconventional office mantra is a stark reminder of co-founder Nik Storonsky’s acerbic, straight-talking manner that has kept the gas pumping at the UK’s most valuable fintech since it opened for business in 2015. “Whenever a target is set, [...]
‘Trust me’: Jamie Dimon to defend JP Morgan’s $2bn-a-week bill February 23, 2026 Jamie Dimon is set to defend JP Morgan’s $2bn-a-week cost bill today as analysts and shareholders gather for the banking giant’s annual investor day. The bank chief – generally considered to be the world’s most influential banker – unveiled higher-than-expected plans for 2026 spend at the beginning of the year. JP Morgan told markets spending [...]
Bank to business lending growth to halve amid global tensions February 23, 2026 UK bank to businesses lending growth is forecast to halve this year as firms feel the pinch of challenging conditions amid global tensions. Net growth in the value of lending from the banking sector to businesses is tipped to slow to 3.5 per cent this year, standing at nearly half of the 6.9 per cent [...]