Lloyds and HSBC: What to expect in next week’s earnings February 19, 2021 This week Barclays and Natwest announced a return to dividend payments but laid bare the extent of the pandemic on earnings. Barclays reported a 30 per cent drop in pre-tax profit to £3.1bn for 2020, while Natwest reported a pre-tax loss of £351m for the year. Next week it will be Lloyds and HSBC’s turn [...]
Barclays pay pot for top execs swells to £1.6bn despite profit plunge but Jes Staley takes £2m pay cut February 19, 2021 Barclays pay pot for top execs swells to £1.6bn despite profit plunge but Jes Staley takes £2m pay cut
NatWest tumbles to £351m loss in 2020 as bank shuts door on Irish market February 19, 2021 NatWest has today announced that it will pull out of its operations in the Republic of Ireland after reporting a £351m annual loss. The bank intends to withdraw from its Ulster Bank but operations will not be affected in Northern Ireland. It will exit the country following a strategic review and send $4.84bn worth of [...]
Pound sterling in touching distance of $1.40 as currencies enter ‘post-Covid world’ February 18, 2021 Pound sterling in touching distance of $1.40 as currencies enter 'post-Covid world'
Wall Street joins FTSE in the red following gloomy jobs data February 18, 2021 Wall Street faced a sea of red this morning as shares slid across the board after an unexpected rise in weekly jobless claims highlighted the fragile labour market recovery. A report from the US Labor Department showed initial claims for state unemployment benefits were 861,000 last week, compared with 848,000 in the prior week. The [...]
Exclusive: Cashplus hires new chairman after securing banking licence February 18, 2021 Digital challenger bank Cashplus has hired banking veteran Mark Sismey-Durrant as its new chairman just weeks after securing a new banking licence. Earlier this month the Prudential Regulation Authority granted Cashplus a full UK banking licence 16 years after it was founded. Sismey-Durrant, previously chief executive of Sun Bank, Heritable Bank and most recently Hampshire [...]
Analysts: ‘Dogged’ Barclays weathering pandemic storm as investment banking arm booms February 18, 2021 Barclays’ investment banking arm is ‘firing on all cylinders’ after posting a record income earlier this morning. The division’s success has helped the bank to soften the financial impact of the Covid-19 pandemic, which hit profits repeatedly in 2020. John Moore, senior investment manager at Brewin Dolphin, deems the success of Barclays’ investment division ‘ironic’ [...]
Barclays to keep ‘significant presence’ in Canary Wharf despite pandemic February 18, 2021 Barclays chief executive Jes Staley today insisted the bank will keep a “significant presence” in Canary Wharf despite a shift to home working prompted by the pandemic. Staley last year prompted speculation that Barclays could cut down its office space in the financial hub after he said the outbreak of Covid-19 could make large offices [...]
Barclays to resume dividend as Covid loan provision hits £4.8bn February 18, 2021 Barclays today said it will resume its annual dividend as the banking giant’s profit suffered a less severe hit from the pandemic than expected. The bank announced a dividend of 1p per share, as well as a £700m share buyback, after regulators banned payouts last year following the outbreak of Covid-19. It came as Barclays [...]
Remote working will come at a cost, FTSE and S&P 500 hiring execs warn February 18, 2021 Remote working will come at a cost, FTSE and S&P 500 hiring execs warn