We need to tackle financial exclusion and give everyone the opportunity to safeguard their future October 9, 2023 With a plan to make credit more accessible and financial education part of the primary school curriculum, the Lord Mayor of the City of London wants everyone to experience economic stability
Metro Bank: Natwest, Lloyds and Santander UK consider buying parts of lender – report October 8, 2023 The Bank of England has reportedly been canvassing some of the UK’s most high profile banks to gauge their interest in purchasing Metro Bank.
Metro Bank: Bank of England approached UK lenders to gauge interest in troubled bank October 8, 2023 The Bank of England's Prudential Regulation Authority approached a number of big UK lenders this week to see if they had any interest in taking over British lender Metro Bank, the Financial Times reported.
De La Rue: British banknote maker lifts profit expectations as currency demand recovers October 6, 2023 British banknote maker De La Rue has bumped up its profit expectations for the first half of the year after it reported seeing signs of recovery in its currency business. The Basingstoke-based firm said it now expects adjusted operating profit to be “marginally ahead of previous guidance” given in June. Shares in the company, which [...]
FTSE 100 close: London ends week higher after US jobs growth smashes forecasts October 6, 2023 London markets opened higher this morning despite a fall in house prices for the sixth consecutive month in a row.
London house prices slump again as high interest rates pile pain on mortgage holders October 6, 2023 London house prices cratered again in September as the Bank of England’s interest rate hikes continue to pile pain on mortgage holders and weigh on the housing market. House prices in the capital have fallen 4.8 per cent over the last year, the biggest fall of any region in cash terms at an average of [...]
Bank of England will cut interest rates ‘much more quickly’ than Fed, think tank predicts October 5, 2023 Rising unemployment will force the Bank of England to cut interest rates "much more quickly" than the Federal Reserve, the Resolution Foundation predicted.
Bank of England warns banks have not learnt lessons from Truss gilts turmoil October 5, 2023 The Bank of England (BoE) said on Thursday it was disappointing that some of the banks it regulates have not tackled shortcomings in how they manage risks from customers after turmoil in UK government bond markets last September.
Ministers accused of risking green investment for ‘short-term political gain’ October 5, 2023 The government’s rowing back on green pledges is putting the future of the UK’s economy at risk for the benefit of “short-term political gain."
Metro Bank shares tumble on reports it needs £600m to shore up balance sheet October 5, 2023 Metro Bank shares tumbled by more than 20 per cent this morning after reports that the challenger is in talks to raise hundreds of millions of pounds in an effort to shore up its balance sheet. Metro has reportedly hired bankers at Morgan Stanley and Moelis to raise £600m in extra financing, which includes £250m [...]