HSBC shares sink after revenue misses expectations Banking Shares in HSBC plunged this morning with billions wiped from its market value after the bank missed revenue expectations in the third-quarter. The FTSE 100 bank’s stock slid seven per cent in early trading to 1,269.0p in a move that shed around £16bn from the firm’s market capitalisation. It also put it on track to [...]
Interest rate fears dampen UK house buying demand Property Brits held off inquiring about buying new homes last month as fears over higher mortgage rates dampened the market. Housing demand dropped in September, according to a survey from the Royal Institution of Chartered Surveyors (RICS), which found that 22 per cent of property professionals saw buyer inquiries fall last month. That figure was up [...]
‘Uncharted territory’: UK economy facing shocks as diesel and borrowing costs surge Economics The UK economy entered “uncharted territory” on Monday battling an assortment of financial pressures as fears intensified ahead of the next Budget. Diesel costs surged to a record high of 199.18p per litre marking the latest energy shock on the UK economy. Stations were registered as charging 199.18p per litre, according to the RAC. The [...]
As it happened: FTSE 100 rises after inflation jump; oil supply in focus September 16, 2026 Welcome back to the City AM liveblog. UK inflation has seen a fresh spike to 3.1 per cent in August, up from 2.9 per cent the month prior. The fresh print comes as Brent crude – the international benchmark for oil – holds around the $108 per barrel mark, near four-month highs. Industry data managed [...]
Mortgage rates at five-month high ahead of Bank of England decision September 14, 2026 Borrowers are bracing for more mortgage woes ahead of the Bank of England’s interest rate decision this week. Mortgage rates have climbed to their highest level in nearly five months after some 25 lenders hiked their deals in the last week including the likes of HSBC, Lloyds and Nationwide. The average two-year fix has risen [...]
Five lenders hike mortgage prices as interest rate threat looms September 8, 2026 Five lenders hiked the price on their mortgage deals to kick off the week as the threat of the Bank of England increasing interest rates looms over the UK economy. Barclays has raised its rates on a fleet of products by nearly 0.2 per cent, with its two-year fixed rate rising to 5.53 per cent [...]
Natwest hikes targets again after jump in profit July 31, 2026 Natwest has upgraded its income targets for a second quarter running as the bank posted better than expected profit and dished out a bumper dividend to investors. The blue-chip lender reported a 20 per cent jump in pre-tax profit in the first six months of 2026 to £4.3bn, up from £3.6bn the year prior and [...]
Lloyds beats profit target as bank sets sights on more cost-cutting July 30, 2026 Lloyds Banking Group beat its profit forecast for the first half of the year as the bank’s top boss laid out plans to make further cost savings in the years ahead. The FTSE 100 lender – which owns the Bank of Scotland and Halifax – recorded a £4.3bn pre-tax profit in the first half of [...]
Bank of England may set the stage for interest rate hikes this year July 30, 2026 The Bank of England could today roll the pitch for a series of interest rate hikes this year after price shocks triggered by the war in Iran rippled through the global economy in the past quarter, City analysts have predicted. Analysts across financial firms in the City are expecting the Bank to leave interest rates [...]
‘Door is open’ to interest rate hike as inflation fears return July 23, 2026 An interest rate hike by the Bank of England this year is back on the cards as fears of continued oil and gas trade disruption across the Strait of Hormuz could push inflation higher, according to City economists. A spike in oil prices to levels seen during the Iran war has dampened the mood across [...]