Lloyds to cut 1,600 jobs in transition from branches to online banking January 25, 2024 Lloyds Bank is to cut some 1,600 jobs across its branch network, a company spokesperson has told City A.M., as part of its shift towards digital services. The move from Britain’s largest domestic bank is the latest in a series of layoffs within the sector amid margin pressure from peaking interest rates and fierce competition [...]
Auto finance industry could face £16bn in compensation payouts from FCA probe January 25, 2024 UK auto lenders could be hit by up to £16bn in compensation payments after the City watchdog confirmed its probe in historic commission arrangements would look at cases going back to 2007.
Chancellor to meet with Lloyds, Barclays and Natwest executives over share slumps January 18, 2024 Chancellor Jeremy Hunt is convening a summit with bosses from the UK's largest banks to discuss concerns that their poor share performance is preventing more lending into the economy.
Lloyds and Close Brothers shares drop as FCA motor finance review looms January 17, 2024 Shares in Lloyds Bank and Close Brothers extended losses on Wednesday as investors digest a surprise increase in inflation and analysts estimate the two firms could be rocked by a City watchdog review into motor finance.
UK banks could face major losses over FCA motor finance review January 15, 2024 UK banks could be on the hook for billions in compensation, according to analysts, after the City watchdog announced a review into unfair costs on discretionary car finance commissions.
Which banks were the winners and losers of 2023? December 29, 2023 After a year of big headlines, which UK banks pressed ahead and which fell behind in 2023?
Autumn Statement fails to lift mood in the capital ahead of Christmas, survey suggests December 21, 2023 Business confidence in the capital fell sharply approaching Christmas, as confidence in the wider economy took a big knock despite the measures announced in the Autumn Statement.
Barclay family reclaims Telegraph after paying off Lloyds debt December 4, 2023 The Barclay family has reclaimed control of The Telegraph following a repayment of £1.16bn in debts owed to Lloyds bank.
London takes business crown as confidence hits highest since early 2022 November 30, 2023 New data from the Lloyds Business Barometer showed that business confidence in London rose nine points to 56 per cent in November.
UK faces ‘critical bottleneck’ on skilled jobs ahead of green transition November 28, 2023 The UK faces a “critical bottleneck” on skilled infrastructure jobs ahead of the green transition, an energy firm has warned.