Santander: Bank cuts UK mortgage lending by more than £10bn October 25, 2023 Santander's UK division saw healthy pre-tax profit in the first nine months of 2023 but has slashed UK mortgage lending amid higher interest rates.
Porsche defies economic gravity as luxury cars outpace recession fears October 25, 2023 Porsche reported a jump in sales and profits thanks to strong performances from its bestselling Cayenne series and all-electric Taycan.
Lloyds rides out end of interest rate spike with bumper profit October 25, 2023 Increasing competition was not enough to stop Lloyds from performing above expectations in the third quarter as the bank continued to benefit from a relatively benign credit environment. In the three months to September, pretax profit hit £1.9bn, more than triple the same period last year and slightly ahead of analyst expectations. Net interest income [...]
UK digital ad spend continues to see ‘extremely strong growth’, despite economic uncertainty October 25, 2023 A total of five per cent year-on-year growth was reported in the UK's digital advertising market — despite ongoing economic uncertainty.
Seat and Cupra chief: There’s a ‘perfect storm’ ahead for European carmakers October 25, 2023 City A.M. sits down with Seat chief Wayne Griffiths to discuss the European car industry and Cupra's roaring success.
Five pledges: How is Rishi Sunak doing after one year in No10? October 25, 2023 Just 12 months ago today, Rishi Sunak made history. Entering No10, on 25 October, 2022, he became the UK’s first British Asian and Hindu Prime Minister – and took over from his record-breaking predecessor after just 49 days. Since then, he’s lost five by-elections; visited Ukraine, the US and Israel, and seen his personal poll [...]
The Notebook: Victoria Scholar on why the allure of luxury bags could bolster designer marques October 25, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Victoria Scholar of Interactive Investor Don’t discount the allure of luxury bags – or the stocks of their makers LVMH reported rather dismal results this month. The luxury goods giant, which owns brands like Louis Vuitton and Dior, announced third [...]
If economic experts wield political power, we’ll get dragged into fiscal groupthink October 25, 2023 If the Bank of England were unable to predict inflation, why would we grant similar experts power at the Office of Budget Responsibility?
Sharon White: Departing John Lewis boss calls for ‘cross-party’ effort to fix ailing high streets October 24, 2023 The 56-year-old former Ofcom boss, confessed that department store John Lewis is now 60 per cent online and 40 percent physical.
Are NFTs over or are they growing up into real assets? October 24, 2023 Monty Munford on the need to be surrounded by beauty in dark times, the prospect of an unnecessary Oasis reunion, and NFTs.