Lloyds, HSBC, Barclays and Natwest set to report lower profits – but doubts over rate cuts could lift lenders April 20, 2024 The UK's biggest banks are set to report lower profits and narrower margins in the coming weeks as the interest rate tailwind which pushed their earnings to a record high last year dies down.
Interest rates and the green economy: The carbon cost of higher for longer April 18, 2024 The high capital intensity and low returns on green projects make them particularly vulnerable to high rates.
City group calls for scrutiny of UK regulators’ impact on competitiveness against international peers April 18, 2024 Greater comparison of the UK's financial regulators to their international counterparts is needed to better evaluate their secondary objective for competitiveness and growth, a top City body has argued.
Highest monthly car insurance rates ‘very hard’ to justify, industry boss admits April 17, 2024 A boss at the trade body for British insurers told MPs today that the highest rates paid by motorists for monthly cover are “very hard” to justify, as the industry faces criticism for hiking prices amid the cost of living crisis.
Hong Kong could become Asia’s crypto hub with Bitcoin and Ethereum ETFs April 16, 2024 After the weekend's volatility due to the increasing conflict in the Middle East, crypto saw some positive news coming from Hong Kong yesterday. Bitcoin and Ethereum spot exchange traded fund (ETF) applicants in Hong Kong posted on social media that authorities had approved their applications. The region will be the first in Asia to offer spot ETFs. Is this the beginning of Hong Kong’s crypto dominance?
UK government set to speed up regulation of AI models like ChatGPT and Google Gemini April 15, 2024 New legislation would likely limit the production of large language models such as ChatGPT and Google's Gemini.
Crunch time: Cérélia forced to sell Jus-Rol after court dismisses appeal April 12, 2024 French pastry maker Cérélia has been ordered to sell frozen pastry Jus-Rol after losing an appeal against the competition watchdog. US based food company General Mills, which owns Jus-Rol, announced in November 2021 that it agreed to sell its European dough businesses to Cérélia. With an annual turnover of €800m (£682m), Cérélia brands include Croustipate, [...]
UK and Korea prepare for second AI safety summit in Seoul April 12, 2024 The UK and the Republic of Korea are gearing up for the second Artificial Intelligence (AI) Safety Summit, set to be held in Seoul on 21 and 22 May.
Competition watchdog issues warning on AI foundation models like ChatGPT April 12, 2024 The CMA said it is concerned about the concentration of market power among a handful of incumbent technology giants' AI models.
Has Tesco benefited from people trading down? April 10, 2024 Britain’s largest supermarket Tesco made a profit of £2.8bn - up £300m on the prior years figure - as the grocer said a slew of price cuts helped attract customers.