Royal Bank of Scotland ‘returns from the wilderness’ with £1.7bn dividend August 2, 2019 Royal Bank of Scotland scored a bumper £1.3bn profit for its second quarter, it revealed today, as well as offering a special 12p per share dividend to investors. But it warned that tough economic conditions would hit profitability into 2020, sending its share price down almost five per cent. Read more: Barclays boosts first half [...]
Capita return to growth ‘distinctly possible’ as turnaround starts to do the trick August 1, 2019 Capita’s market value shot up today as investors toasted the first fruits of a sweeping turnaround plan. The outsourcer’s share price jumped 17 per cent on the news margins had grown in four of its six main business divisions. Capita runs the Ministry of Defence’s recruitment programme for the British army. The figures Pre-tax profit [...]
Shell profits slip to lowest point since 2016 as weak oil and gas prices hit energy major August 1, 2019 Shell shares dropped this morning as it reported its lowest second-quarter profits since 2016, as earnings slumped more than 25 per cent. The oil and gas major suffered from lower oil and gas prices. Shares were down four per cent in early morning trading. The figures Shell profits fell 25 per cent to $3.6bn (£2.9bn) [...]
Barclays boosts first-half profit 82 per cent to £3bn August 1, 2019 Barclays today posted first-half profit before tax of £3bn, an 82 per cent increase on the same period last year. Total income fell one per cent to £10.8bn. Return on tangible equity was 9.4 per cent, down from 11.6 per cent in the first half of 2018. The bank said it was targeting return of [...]
British Gas owner Centrica’s chief executive resigns as it slashes dividend July 30, 2019 British Gas owner Centrica said its chief executive was stepping down today as it announced a dividend cut of nearly 60 per cent. Chief executive Iain Conn will step down as chief executive and retire next year, the company said. Read more: British Gas owner Centrica ‘to cut dividend and sell off oil and gas [...]
Barclays and RBS among banks hit by £1bn forex rigging lawsuit July 29, 2019 Barclays and the Royal Bank of Scotland (RBS) are among five banks targeted in a £1bn class action lawsuit over forex rigging that was filed today. The action follows a May ruling by the European Commission that Barclays, RBS, JP Morgan, Citibank and UBS had violated EU competition law. The five banks have been collectively [...]
What are the banks doing to help survivors of financial abuse? July 29, 2019 Money ultimately brings us freedom, so what if your partner were to restrict access to your income or bank account? It’s not uncommon for perpetrators of domestic abuse to manipulate their partners through money in this way – in fact, according to Women’s Aid, a third of survivors say that their access to cash during [...]
Fed set to cut interest rates for first time in 10 years July 28, 2019 The US Federal Reserve is poised to cut interest rates for the first time in a decade when it meets this week in a preemptive effort to stave off the effects of trade tensions. Read more: US economic growth falls short of Trump’s target Market players think it is certain that the Fed will cut [...]
What is 5G and how does it work? Everything you need to know about the next-generation network July 26, 2019 Mobile operator EE hit the headlines last week when it launched the UK’s first 5G network at a lavish launch party on the river Thames. EE boss Marc Allera hailed a “historic moment” as the firm live-streamed a performance by hit rapper Stormzy against the iconic backdrop of Tower Bridge. Customers on EE can now [...]
Boris Johnson gears up for war with a cabinet of resurrected soldiers July 26, 2019 They say you can’t make an omelette without breaking some eggs. Apparently, you also can’t build a governmental team capable of taking Britain out of the EU without breaking apart any sense of unity or collaborative sentiment in the Conservative party. Boris Johnson has appointed a cabinet of the living dead, not in the way [...]