FTSE 100 live: London’s blue chip index falls as NatWest and Lloyds share prices slump February 17, 2023 London’s FTSE 100 dropped lower on Friday as a share price slump from NatWest and high street rival Lloyds weighed on the index. The capital’s premier index jumped 0.53 per cent to 7,972.29 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 0.76 per [...]
FTSE 100 close: London index breaches 8,000 mark for first time ever despite Barclays tumbling February 15, 2023 London’s FTSE 100 today breached the 8,000 point mark for the first time ever despite Britain’s biggest banks tanking after Barclays posted a big profits drop. Today’s move higher crystalises the premier index’s bullish start to 2023 that has seen it surged more than seven per cent. The new year rally builds on advances that [...]
Bank chiefs hit back at accusations of profiteering on higher interest rates February 7, 2023 Chief executives from the UK’s four largest lenders today hit back at accusations from MPs that they were too quick to charge customers more interest on their mortgages without offering higher rates on savings accounts. The bank chiefs were asked why interest rates on instant savings accounts remain around one per cent while the Bank [...]
Rom-cons on the rise: Romance Scammers trick average victim out of over £8k February 6, 2023 Lonely souls looking for Valentine’s love are being warned not to fall prey to romance scams which have increased by over 30 per cent in the last year according to Lloyds bank. The rise of dating apps and social media has made romance scamming easier, as criminals can more easily fake their identity to gain [...]
Borrowers warned of rise in ‘advance fees’ scams with over £700 lost on average and Londoners more likely to fall victim – Lloyds Bank January 24, 2023 The rising cost of living has lead to 82 per cent increase in financial scams that target victims by charging fees for products and services that do not materialise, according to Lloyds bank. Victims lost £711 on average, and although the amount lost is lower than £1,194 recorded the previous year, the bank said fraudsters [...]
Where are Lloyds and Halifax closing 40 branches in 2023 and what does the high street exodus mean for you? January 20, 2023 Lloyds Banking Group said it will close a further 40 branches this year, as the exodus of banking branches from Britain’s high streets continues. Lloyds will close the doors at 22 branches while there will be 18 closures at Halifax. The branches will be closed between April and June this year. The bank noted that [...]
UK banks’ shares slide on fears of recession and bad debt January 19, 2023 UK banks’ share prices dipped on Thursday as increasing fears of recession, bad debt and a fairly poor set of US bank earnings this week spooked investors. Barclays shed 2.8 per cent, HSBC 0.6 per cent and Standard Chartered 0.8 per cent. Domestic-focused lenders Lloyds and Natwest also traded lower, finishing down 1.0 per cent [...]
FTSE 100 close: Persimmon and Taylor Wimpey pull index away from record high January 19, 2023 London’s FTSE 100 index registered one of its worst days since the turn of the year, pulling it away from its record high. The capital’s premier index shed 1.07 per cent to drop to 7,747.28 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell [...]
LendInvest: Property fintech brings Lloyds funding deal to £300m for mortgage market push January 17, 2023 LendInvest has secured a new £120m funding boost from Lloyds Bank today as it prepares a push into the UK’s £1.2tn homeowner mortgage market for the first time. The London-listed property fintech firm said Lloyds had now offered up a credit facility worth £300m after striking a deal for an initial £180m in October to [...]
Why UK banks are not going to cause another financial crisis January 15, 2023 UK banks are better prepared to withstand a jump in home loan defaults, cooling fears of a repeat of the financial crisis, analysts have told City A.M. Strict affordability rules implemented after the 2008 banking crash have strengthened lenders’ loan books, meaning they are well insulated from a potential rise in defaults caused by last [...]