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, [...]
Barclays share price slumps as lender lowers UK guidance again October 24, 2023 Barclays performed in line with expectations but flagged difficulties ahead as it lowered its margin guidance for the rest of the year.
Lloyds, Natwest and Barclays in for a ‘tough quarter’ as pressure on interest income persists October 22, 2023 n results for the second quarter both Natwest and Barclays UK lowered their forecast for the full-year NIM on the back of an increasingly competitive deposit and mortgage market.
Sale process to secure new owners for Telegraph and Spectator is launched October 20, 2023 The Telegraph Media Group and The Spectator magazine have launched the sale process to secure new owners for the business. The long-awaited sale to gain control of one of the UK’s largest newspaper groups has already seen a wealth of interest from potential buyers. The board of the parent companies behind the Telegraph and Spectator [...]
Protests continue in Canary Wharf despite Greta Thunberg’s arrest this week October 19, 2023 Climate activists were joined by Greta Thunberg in a protest outside banking and finance offices in Canary Wharf today.
Mark Kleinman: Why Barclays’ £1bn Telegraph bid won’t be the last word, Alison Rose’s next move and why no one wants to be chair of the BBC October 19, 2023 The must-read column from the man in the know, City Editor at Sky Mark Kleinman Barclays’s £1bn Telegraph bid not the last word Hold the front page: the Barclay family’s effort to lodge a knockout bid for The Daily Telegraph was timed like the arrival of a blockbuster newspaper story minutes before the final edition, [...]