Royal Bank of Scotland undone by Brexit May 6, 2019 By Graeme Evans from interactive investor. These were a 'noisy' set of Q1 results from RBS, but probably look 'worse than the reality'. Back in the dividend-paying ranks and with shares up by as much as 25 per cent in 2019, The Royal Bank of Scotland (LSE:RBS) provided investors with a reality check as the state-backed lender [...]
Morrisons in City spotlight for first-quarter results May 6, 2019 Investors will be hoping Morrisons can replicate recently-improved trading results from its supermarket rivals later this week when it looks set to extend a long spell of like-for-like sales growth. Read more: Morrisons granted permission for Supreme Court appeal over data ruling Following a largely better-than-expected financial performance from both Sainsbury’s and Tesco in recent [...]
Making bank: HSBC profits soar past expectations but it warns of global economy risks May 3, 2019 HSBC hailed rocketing profits for its first quarter today as it also sounded a warning over risks to the global economy. Read more: Metro Bank's shares in meltdown after profits halved The figures Reported profit before tax rose 30.7 per cent to $6.2bn in the three months to the end of March, the bank revealed. [...]
Corbyn’s past just keeps tripping him up May 2, 2019 The charge sheet is grim. He defended a mural depicting hook-nosed Jewish bankers playing monopoly on the backs of the poor. He claimed Israel exerts “unbelievably high levels of influence” over “the upper echelons of parts of the media”. He presides over a party struggling to deal with complaints of antisemitism among its members and [...]
Activist investor Ed Bramson suffers heavy defeat in battle for seat on Barclays board May 2, 2019 Activist investor Ed Bramson has suffered a heavy defeat in his battle to win a seat on the Barclays board. Shareholders votes came in at 87.2 per cent against his election, as the US-based investor was only able to amass 12.8 per cent of the vote. Aside from his own 5.5 per cent stake, and factoring [...]
Lloyds Bank ‘prepared for further Brexit uncertainty’ as profits stay flat May 2, 2019 Lloyds Bank is prepared to weather further Brexit uncertainty, the group’s chief executive said today as the bank reported results for the first quarter. Read more: Lloyds Bank handed capital boost by regulator following risk change The figures Profit before tax was flat at £1.6bn, the bank said this morning, while underlying profit was up [...]
City Moves for 2 May – Who’s switching jobs at Santander, Intertrust and Bristows? May 1, 2019 Today's City Moves includes Santander, Intertrust and Bristows. Santander UK Santander UK has announced the appointment of Ben Covey as head of private banking, reporting directly to Charlotte Platts, head of wealth. Ben will take up his position from 1 May and will be responsible for the direction and growth of the private banking proposition [...]
Lloyds Bank handed capital boost by regulator raising chances of more share buybacks May 1, 2019 Lloyds Bank shareholders could be set for higher dividends and another share buyback programme after the UK regulator loosened its risk buffer. The Bank of England’s Prudential Regulation Authority (PRA) reduced the rate for the “systemic risk buffer” of extra capital the bank needs to hold. Read more: Lloyds Bank to pay £10m to customers [...]
Online advertising continues to grow as UK ad spend hits £24bn April 30, 2019 Online formats are continuing to take the lion’s share of advertising pounds as UK ad spend hit almost £24bn last year, new figures have revealed. Read more: WPP suffers sales drop after ‘significant’ client losses Search and online display advertising pulled in almost £12bn in 2018, more than half of the total spend across all [...]
Restructuring and foreign currency headwinds hammer Santander profits April 30, 2019 Santander saw profits fall by a tenth as the Spanish banking giant kicked on with a major restructuring in the UK and Poland. Read more: Santander and Barclays face lawsuits over film financing schemes The company was also hit by high inflation in Argentina which hampered earnings further, despite customer growth across its core markets [...]