Business ‘debanking’ complaints nearly double in a year as MPs warn of ‘unfair’ account closures April 22, 2024 The number of official complaints over business "debanking" has almost doubled in the last year, new figures show, as MPs accuse lenders of "unfairly" closing customers' accounts.
Banks, retailers and tech giants dominate big blue-chip results week April 21, 2024 A slew of blue-chip results on both sides of the Atlantic will dominate the corporate news agenda this week, alongside key US economic data set to bolster the case for higher-for-longer interest rates.
Lloyds, HSBC, Barclays and Natwest set to report lower profits – but doubts over rate cuts could lift lenders April 20, 2024 The UK's biggest banks are set to report lower profits and narrower margins in the coming weeks as the interest rate tailwind which pushed their earnings to a record high last year dies down.
Government quietly pauses Natwest retail bidding process March 31, 2024 The Treasury has suspended a bidding process to run the sale of its stake in Natwest, in a move which throws doubt on the structure of the much touted ‘Tell Sid’-style retail deal, City A.M. can reveal.
Natwest boss drops third of executive committee after government slashes stake March 27, 2024 New Natwest boss Paul Thwaite, who formally became chief of the bank in Febraury, has restructured the group's management team.
Buy now, fail later? Banks struggle to cash in on Klarna’s success March 27, 2024 Natwest recently confirmed it would axe its buy-now pay-later scheme. Industry experts suggest the move could be a sign of things to come as traditional lenders struggle to gain a foothold in the market.
UK government no longer a controlling shareholder in Natwest after taking stake below 30 per cent March 25, 2024 Taxpayers paid £45.5bn for the bailout but have lost out as Natwest’s share price has halved since then.
Natwest sets out plans to lend £5bn to social housing projects March 25, 2024 Natwest has launched a new £5bn package of targeted lending and support for UK social housing over three years.
High street bank bosses warn of rising fraud threat from social media March 20, 2024 Bosses from the UK's biggest high street banks have told MPs that they are improving their fraud reimbursement rates, while calling for greater cooperation with social media companies to prevent scams that originate on their platforms.
Government proposes ‘debanking’ law after Farage Natwest row and surge in complaints March 14, 2024 The UK government has proposed a law that would force banks to give customers more advanced notice and an explanation before closing their accounts, following a surge in complaints over "debanking" and a row between Natwest and former Ukip leader Nigel Farage.