Why savers should consider a flexible ISA February 20, 2025 Savers are looking for ways to use their ISA allowance before the tax year ends, and a flexible ISA is well worth considering. A flexible ISA is tax-friendly as it allows users to withdraw money and repay it without affecting their annual allowance, so long as any money is repaid in the same tax year. [...]
Reeves told to improve investment incentives by industry bosses February 19, 2025 Rachel Reeves has been told by top global financial firms she needs to ease investment taxes, sources told Reuters. In a meeting with executives from JPMorgan, BlackRock, Goldman Sachs, Morgan Stanley, Citi, Fidelity, Schroders and abrdn on Wednesday, Reeves was told to improve tax incentives for UK consumers. The latest summit in Reeves’ bid for [...]
HSBC pushes net-zero target back 20 years February 19, 2025 HSBC has put a 20-year delay on its climate target which aims to reduce emissions across the bank’s operations. Announcing its annual results Wednesday morning, the FTSE 100 giant’s new boss Georges Elhedery confirmed a delay on its net zero policy. The Big Four bank had announced plans in 2020 to achieve net zero across [...]
Very Group returns to half-year profit despite sales decline February 19, 2025 Very Group returned to making a half-year profit during the final six months of 2024 despite a fall in sales. The Merseyside-headquartered business, which includes Littlewoods, has reported a pre-tax profit of £6.1m for the period to 28 December 2024. The profit comes after Very Group fell to a pre-tax loss of £2m during the [...]
Reeves calls in top investment bankers for growth talks February 18, 2025 Rachel Reeves’ mission for growth continues with a fresh round of talks with top investment bankers and asset managers this week. Executives from Abrdn, BlackRock, Citi, Goldman Sachs, JP Morgan, Morgan Stanley and Schroders are set to meet with the Chancellor on Wednesday morning, according to Sky News’ Mark Kleinman. This marks the latest in [...]
HSBC shares hit 20-year high ahead of results February 18, 2025 HSBC’s share price rallied to a 20-year record on Tuesday morning, hitting pre-financial crisis highs. The FTSE 100 lender is due to post its annual results tomorrow morning, which will mark its first set of results with Georges Elhedery at the helm. The bank’s stock jumped to 894.70 following the market opening, marking its highest [...]
Barclays and Natwest drop climate targets from executive bonuses February 18, 2025 Banking giants Barclays and Natwest will both drop climate targets from their annual bonus schemes for senior executives. The move reflects a wider shift underway in the corporate world, removing a formal link between climate and diversity targets and remuneration. Both lenders will cut sustainability metrics as performance measures from annual award schemes, and instead roll [...]
Barclays shares near post-financial crisis high February 18, 2025 Shares in Barclays closed in on a post-financial crisis high on Tuesday morning. The stock has surged higher over the past 12 months due to improved investor sentiment towards the banking sector thanks to higher interest rates. Shares rallied to a high of 310.20p following market open, touching highs not witnessed since the rebound of [...]
Borrowing boom to boost banks February 17, 2025 Banks have been given a boost after new data predicted borrowing growth would rise throughout 2025. After the Bank of England slashed interest rates three times in the last six months, research from EY Item Club anticipates total UK bank lending will rise to 3.7 per cent this year, up from 2.3 per cent in [...]
HSBC set to unveil bigger profits as cost-cutting overhaul in focus February 16, 2025 HSBC is set to unveil bigger profits as investors prepare for an update on the bank’s cost-cutting overhaul, while earnings for Lloyds will be in focus amid a long-running motor finance probe. Rivals Barclays and NatWest set the tone for the banking sector when they reported stronger earnings this week, despite UK interest rates starting [...]