Banks slammed for ‘doing as little as they can get away with’ to help savers October 30, 2023 The UK's biggest banks are "trying to do as little as they can get away with" to help savers as interest rates look set to stay high, a top Tory MP has said.
Banks face tougher competition as profits boost from higher rates fades October 30, 2023 The UK’s major listed banks have warned that the tailwind from high interest rates that has driven bumper profits over the past year is coming to an end as lenders compete to offer better deals to customers. Barclays, Lloyds, NatWest, Standard Chartered and Santander reported third-quarter earnings last week, while HSBC released its results today. [...]
Markets: Asian exchanges open slow as Israel-Gaza conflict weighs on sentiment October 30, 2023 Asian share markets were mixed on Monday as Israel’s push into Gaza stirred fears of a wider conflict ahead of central bank meetings in the United States, Britain and Japan, the latter of which might see a policy tightening. The earnings season also continues with Apple, Airbnb, McDonald’s, Moderna and Eli Lilly & Co among the [...]
Kraken appoints crypto entrepreneur and fintech consultant Bivu Das to drive next chapter of UK growth story October 27, 2023 Kraken has appointed the highly experienced fintech strategist Bivu Das as its Managing Director for the UK.
Dubai calling: City set for closer ties with UAE as ministers pen cooperation deal October 26, 2023 The UK is set to pen a deal to forge closer ties with the United Arab Emirates on financial services today as ministers look to tap into deep pools of capital and promote cooperation between the City and the Middle Eastern state.
Fintech Growth Fund: Treasury rejects pleas for cash as questions swirl on funding October 26, 2023 City sources have flagged concerns with City A.M. over how much money has actually been raised by the fund with bosses refusing to say how much capital had been committed.
Fierce mortgage competition to weigh on banks’ margins, warn brokers October 25, 2023 Mortgage profitability is a key focus for investors as lenders have significantly reduced rates in recent months.
Lloyds rides out end of interest rate spike with bumper profit October 25, 2023 Increasing competition was not enough to stop Lloyds from performing above expectations in the third quarter as the bank continued to benefit from a relatively benign credit environment. In the three months to September, pretax profit hit £1.9bn, more than triple the same period last year and slightly ahead of analyst expectations. Net interest income [...]
Deutsche Bank guides to top end of guidance despite interest rate woes October 25, 2023 Investment bank revenue slumped at German giant Deutsche Bank but profits still beat expectations
FTSE 100 close: London ticks up on economic data, banking stocks pare losses October 24, 2023 London’s FTSE indices closed higher on Tuesday, paring losses from this morning as investors mulled key economic data and the state of the UK’s banking sector. The blue-chip FTSE 100 traded 0.2 per cent higher at 7,389.70, while the mid-cap FTSE 250 dropped 0.38 per cent to 16,994.10. Investors weighed S&P Global’s Purchasing Managers’ Index, [...]