Lloyds Bank to pay £10m to up to 200,000 customers over administrative error April 26, 2019 Lloyds Banking Group will pay out around £10m to up to 200,000 customers following an administrative error made seven years ago. The company failed to notify thousands of customers that it had cut interest rates on a number of Halifax, Bank of Scotland and Lloyds savings accounts in 2012. Read more: Lloyds Bank stars as [...]
Leaving the legacy behind: Meet the tech company that could put a stop to the banks’ IT failures April 23, 2019 IT meltdowns are becoming dangerously common among the big banks. According to Which, at least one British bank suffered an IT failure every day during the last nine months of 2018. TSB’s outage last year, which left 1.9m customers locked out of their accounts and cost the bank £330m, demonstrates how catastrophic these IT issues can [...]
AA: A sustainable recovery of its own? April 12, 2019 | City Talk After a decent start to 2019, our head of markets kicks the tyres after these uninspiring results. There is certainly a great deal going on under the bonnet at AA (LSE:AA.), although by its own admission there remains much to be done. One measure of progress is the number of contract wins the company has [...]
Lloyds Bank stars as FTSE 100 rockets in Q1 April 9, 2019 | City Talk By Graeme Evans from interactive investor. After a great first quarter for stock markets, we assess the best and worst blue-chips of 2019 so far. It’s been a storming start to 2019 for the FTSE 100 index, with popular interactive investor stocks including Lloyds Banking Group (LSE:LLOY), Next (LSE:NXT) and Tesco (LSE:TSCO) among those on [...]
Lloyds Bank private equity arm LDC invests £17.6m in recruitment services firm Amberjack April 7, 2019 LDC, the private equity arm of Lloyds Banking Group, has invested £17.6m in graduate recruitment services firm Amberjack to support a management buy-out. The company, which provides careers services and software to major employers such as Unilever, Network Rail and BP, will use the equity to improve its software and technology products and explore acquisitions. [...]
Gender pay gap data reveals the financial services with wider than average discrepancies April 5, 2019 Some of the large companies with the widest gender pay gaps come from the financial services sector. The deadline for providing gender pay gap data closed last night. For large companies – those employing more than 5,000 staff – the average pay gap was 10.34 per cent. The financial services entities below have gender pay [...]
Dormant assets scheme could be expanded following government report April 4, 2019 A scheme to reallocate dormant assets to charitable causes could be extended to the investment and wealth management sector following the publication of a government report. An independent report commissioned by the government found that extending the scheme to other financial services, also including the insurance and pensions sector, could "significantly expand the money available to good [...]
Germany could get up to 5,000 new finance jobs in the next 18 months because of Brexit April 3, 2019 Up to 5,000 new jobs at overseas banks in Germany could be created in the next year to 18 month because of Brexit, the country’s foreign banking association said today. The lobby group for non-German banks in Germany told an event in Frankfurt that almost 50 financial institutions had decided to ramp up their activities [...]
What is powering ISA millionaire portfolios? April 3, 2019 | City Talk By Jemma Jackson from interactive investor. For our ISA millionaires, investment trusts and a little luck are key to a seven-figure portfolio. Whilst there is always a huge focus on the most popular ISA season funds, data from interactive investor suggests that when it comes to the largest portfolios, it is investment trusts that are [...]
UK bank shares: A pre-Brexit view March 12, 2019 | City Talk Some UK bank shares have made massive profits for shareholders, but how should you play the sector now? It’s been a few weeks since the last of the big UK-listed banks published results for 2018, and share price performance since has been varied. Brexit, of course, has played its part and, with some lenders up [...]