Lloyds Banking Group: Q1 results analysis May 7, 2019 By Graeme Evans from interactive investor. After a stunning share price performance, do these 'hit and miss' results justify optimism? Lloyds Banking Group (LSE:LLOY) investors, in need of a silver lining after an underwhelming earnings season from UK lenders, only have to look back 24 hours earlier to the surprise gift handed to the bank [...]
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 [...]
Metro Bank shares suffer meltdown after profits halved and customers leave in aftermath of £900m loans error May 2, 2019 Metro Bank shares staggered to a record low this morning after it revealed profits halved in the aftermath of its £900m loans error. Read more: Metro Bank profits halve in aftermath of £900m loans blunder The challenger bank’s share price lost 19 per cent of its value after the market opened following last night’s revelation, [...]
Is it time for Mike Coupe to check out as Sainsbury’s boss? May 1, 2019 Mike Coupe was met with rapturous applause from his fellow directors when he stepped up to the microphone this morning, as he hailed the coming of an era in Sainsbury’s history that would see it thrive having merged with long-time rival, Asda. Coupe spoke boldly about price cuts and cost savings, and finished with a [...]
City watchdog launches review of the financial advice market May 1, 2019 The City watchdog today launched a review of the financial advice market amid concerns investors are paying too much. The Financial Conduct Authority’s review will look at what consumers want from the market and how the market works to deliver this. The FCA will review how changes made since 2012, including the retail distribution review [...]
Sainsbury’s profit plummets after spending £46m on failed Asda merger May 1, 2019 Sainsbury’s profits tumbled 42 per cent last year as the supermarket giant spent £46m on its failed merger with Asda, it revealed this morning. Read more: Watchdog kills Sainsbury's-Asda merger: What went wrong? The supermarket suffered a body blow last week when the Competition and Markets Authority (CMA) banned the proposed merger “in its entirety”, a [...]
Competition watchdog gives green light for Paypal’s $2.2bn merger with iZettle April 30, 2019 The competition watchdog has given provisional approval to Paypal’s $2.2bn (£1.7bn) takeover of payments firm iZettle. Read more: Watchdog launches in-depth probe into Paypal-iZettle merger The Competition and Markets Authority (CMA) launched a probe into the merger last year amid concerns it would lessen competition between payment platforms in the UK. But in a provisional [...]
Use of #ad more than doubles in a year amid influencer marketing crackdown April 30, 2019 The number of social media influencers using the hashtag ‘ad’ has more than doubled in the last year amid a crackdown on hidden product endorsements. A report by marketing firm Socialbakers revealed the use of #ad increased 133 per cent in the 12 months to the end of the first quarter this year. Read more: [...]
Revealed: Tesco and Metro are the worst challenger banks, according to customers April 29, 2019 Tesco Bank and Metro Bank are the worst challenger banks in the eyes of consumers, a new sentiment index has revealed. A new report into the sentiment of UK challenger banks by data firm Brands Eye found that Monzo and Atom Bank led the way. Read more: Tesco Bank slapped with £16.4m fine for data breach [...]
Big Four could force judicial review into competition watchdog audit reforms April 28, 2019 Several of the Big Four accountancy firms could attempt to force a judicial review of the competition regulator’s proposals to shake up the sector. Earlier this month the Competition and Markets Authority (CMA) called for the introduction of joint audits, meaning companies would have to appoint one of PwC, EY, Deloitte or KPMG, alongside a so-called [...]