FCA will ‘keep its eyes’ on banks’ Q1 results for evidence of savings rate profiteering April 20, 2023 Savers are facing a rising “loyalty penalty” from high street banks, the Financial Conduct Authority (FCA) has warned. Customers banking with the UK’s big name lenders are likely to earn less competitive interest rates on their savings over time, while new savers are given more attractive offers, the City watchdog told MPs today. “Harm” from [...]
FTSE 100 close: Inflation shock drags London index lower as real estate firms lead losses April 19, 2023 London’s FTSE 100 slipped today as investors took fright at UK inflation topping forecasts to stay in the double digits last month. The capital’s premier index shed 0.13 per cent to drop to 7,898.78 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.49 [...]
FTSE 100 close: China economy growth spurt jolts London miners higher April 18, 2023 London’s FTSE 100 bumped upwards again today, boosted by stronger than expected Chinese economic growth boosting sentiment toward the capital’s biggest listed industrial giants. The capital’s premier index climbed 0.38 per cent to 7,909.43 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was broadly [...]
Britain still at risk of ‘mild recession’ despite better than feared start to year, Lloyds Bank chief predicts April 16, 2023 Britain could still suffer “a mild recession” despite the economy performing much better than experts warned at the turn of the year, the head of Lloyds Bank, the country’s largest mortgage lender, has said. Charlie Nunn, chief executive of Lloyds Bank, told The Sunday Times that there is a “more positive outlook” about the UK [...]
Mass bank branch closures making life for retired Brits ‘really difficult’ as Age UK calls for regulation and law changes March 31, 2023 A leading charity for older people has criticised the latest tranche of bank branch closures, saying it is making banking “really difficult.” The head of Age UK responded to news today that Lloyds and NatWest groups would be shutting a further 81 branches this year. She urged the government to introduce regulation to compel banks [...]
Is the future of banking online only? NatWest and Lloyds to axe 81 branches, taking this year’s total to 213. Here’s a list of closures: March 31, 2023 Two of the UK’s biggest banking groups have announced plans to make big cuts to their branch networks this year, cutting more than 80 sites from around the country. Lloyds Group and NatWest Group have said that the sites in England, Scotland, Wales and the Isle of Man will close between July and November this [...]
FTSE 100 close: Deutsche Bank surges while Barclays and HSBC yank London index higher March 27, 2023 London’s FTSE 100 kicked off the week in upbeat style, yanked higher by UK banking giants Barclays and Lloyds racking up gains. The capital’s premier index jumped 0.9 per cent to 7,471.78 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.19 per cent [...]
FTSE 100 close: Wall Street sell off spreads to London pushing premier index further away from 8,000 point mark February 22, 2023 London’s FTSE 100 was drawn into a sell off on Wall Street last night, pushing it further below the 8,000 point threshold today. The capital’s premier index fell 0.59 to 7,930.64 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, slid 0.82 per cent to [...]
Lloyds Bank: Shares fall after bumping up ‘bad loan’ recession provisions February 22, 2023 Lloyds Bank reported that higher interest rates offset the money set aside to cope with loan defaults during the final quarter of 2022, but disappointed the market with yet more conservative guidance on net interest margin for 2023. Lloyds recorded a pretax profit of £1.8bn during the quarter, in line with company-compiled consensus and over [...]
FTSE 100 close: Barclays and Lloyds Bank help London index kick off new week in the black February 20, 2023 London’s FTSE 100 kicked off the week with a positive start, led higher by Lloyds Bank and Barclays which both rose ahead of UK banks’ earnings season ramping up. The capital’s premier index nudged 0.12 per cent higher to 8,014.22 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health [...]