Monzo to follow Revolut and Klarna with launch of mobile service August 19, 2025 Monzo has become the latest fintech darling to expand its lifestyle reach with the firm exploring the development of mobile phone services. The London-based firm is looking to offer a Monzo-branded service to its over 12 million in account holders. The service would follow rival Revolut issuing plans in April to enter the mobile market [...]
Once bitten, twice inflated: The Bank of England’s rate cut conundrum August 14, 2025 After the MPC’s historic second vote on interest rates, is the Bank of England torn between fears of recession and inflation, asks Helen Thomas Seventeen years ago this month, the Bank of England produced its quarterly Inflation Reportas usual. In the 56 pages, the Bank’s forecasters laid out carefully crafted charts andanalysis of how growth [...]
House builder blames ‘broken planning system’ and interest rates for loss August 7, 2025 In independent house builder has blamed the “broken planning system” and high interest rates putting off first time buyers for it falling into the red. Cheshire-based Eccleston Homes has reported a pre-tax loss of £1.2m for the 12 months to 31 October, 2024, down from the £2m profit it achieved in the prior year. New [...]
Mortgage recovery hinges on a Bank of England interest rate cut August 6, 2025 Homeowners across the UK are catching a break as mortgage arrears fell for the first time since the cost-of-living crisis began – but a full recovery will hinge on the Bank of England’s decision on Thursday. Missed mortgage payments in the second quarter fell by 4.4 per cent across the UK, whilst direct debit rejections [...]
The Bank of England’s trouble-free decision to cut interest rates August 6, 2025 The Bank of England has long suffered from the accusation of groupthink. Reforms have been mooted – and some have been implemented – but it has struggled to shake off the charge. Economists at the Cato Institute and the National Institute of Economic and Social Research (NIESR) have, for example, pointed the blame at Threadneedle [...]
Natwest boosts AI strategy with AWS and Accenture July 23, 2025 Natwest Group has announced a five-year collaboration with Amazon Web Services (AWS) and consultancy Accenture to accelerate its bank-wide data and AI transformation, ahead of its half-year earnings release scheduled for July 25. The agreement forms part of the group’s broader strategy to simplify its operations and offer a more personalised customer experience. By consolidating data currently housed [...]
Bank of England interest rate cut ‘almost certain’ after poor growth July 11, 2025 Fresh growth figures have fuelled speculation of an August interest rate cut in a bid to give the waning UK economy a shot of life. The Office for National Statistics (ONS) revealed on Friday the UK economy shrunk for the second consecutive month with a 0.1 per cent contraction in May. Deutsche Bank’s chief economist [...]
Barclays and Natwest shares jump as conflict sparks inflation fears June 16, 2025 Shares in the FTSE 100’s top banks were rising on Monday as the intensifying conflict in the Middle East triggered inflation fears. Barclays and Natwest were up nearly two per cent and Lloyds over one per cent during early trading as oil prices crept up another one per cent to $74.90 a barrel. This follows [...]
Will fintech banks survive falling interest rates? June 13, 2025 Fintech lenders have accelerated their swing to profitability after interest rates spiked. The UK’s neobanks pocketed record revenues in the last 12 months. Revolut’s takings grew 72 per cent topping £3.1bn. Meanwhile Monzo’s revenue hit £1bn for the first time. But this came as interest rates maintained a post-financial crisis high of 5.25 per cent [...]
FTSE 100 narrowly misses record high after housebuilders rally June 10, 2025 The FTSE 100 closed just short of a record high on Tuesday after fresh economic data fuelled hopes of further interest rate cuts from the Bank of England. The UK’s flagship market inched up 0.24 per cent to 8853.08p after a rally from homebuilders. This narrowly missed March’s record close of 8,871.31p. Builders Persimmon and [...]