Lloyds shares jump despite profit slump February 20, 2025 Lloyds Banking Group’s shares jumped three per cent following market open, despite recording a profit hit after the firm set aside additional funds for potential motor finance payouts. The FTSE 100 lender’s pre-tax profit was down 20 per cent at £6bn, compared to £7.5bn in 2023. Analysts estimated the bank’s profit before tax at £6.5bn, [...]
Consumers’ outlook on the economy drops for fifth month in a row February 20, 2025 Consumer confidence has dipped again in the UK, with Brits’ outlook on the state of the economy dropping for the fifth month in a row. Public expectations for the economy over the next three months worsened to -37 in February, down from -34 in January. Brits’ personal financial outlook dropped to -11 in February, down [...]
Criticising ‘wealth hoarding boomers’ is ageist stereotype, MPs warn February 19, 2025 Criticism of older people as “wealth hoarding boomers” is a form of ageist stereotyping, a report by MPs has warned. Ageism is “widespread and culturally embedded” in the UK and discrimination laws are currently “failing” older people, the MPs have said. The Women and Equalities Committee of MPs concluded the UK has a “pervasively ageist [...]
NS&I announces Premium Bond prize rate cut February 19, 2025 NS&I, the government-backed savings provider, has announced it will cut the Premium Bond prize rate from four per cent to 3.8 per cent in April. The rate had already decreased from 4.15 per cent to four per cent at the beginning of the year. More than 24m people own Premium Bonds, making it the nation’s [...]
Business secretary accused of false CV claim to be a solicitor February 19, 2025 Business secretary Jonathan Reynolds has been accused of falsely claiming that he was a solicitor before being elected as an MP, despite only being a trainee. The cabinet minister – who is responsible for the UK’s businesses and international trade – has previously described himself as a solicitor, including on his LinkedIn profile, according to [...]
How will inflation impact Bank of England interest rate decisions February 19, 2025 The first inflation figures of the year confirmed what many had already known: Inflation will rise significantly in 2025.
‘Alarm bells’ for Bank of England as inflation accelerates to three per cent February 19, 2025 Inflation picked up faster than expected at the start of the year, official data shows, as concerns grow about the persistence of price pressures in the economy. The headline rate of inflation picked up to 3.0 per cent in January, according to new figures from the Office for National Statistics (ONS). This was up from [...]
Labour’s jobs tax is proving the Laffer curve in real time February 19, 2025 Widespread falls in hiring and increases in redundancies are a textbook demonstration of how tax can destroy economic activity. Labour’s National Insurance rise is proving economic theory before our eyes, says Matthew Kilcoyne Sometimes the data tells a story so clear it hurts. The latest CIPD survey gives us exactly that – a textbook demonstration [...]
Global investors shun UK market amid stagflation fears February 18, 2025 Britain has become the least attractive market to invest in among global fund managers, with sentiment towards UK stocks slumping. Stock pickers held 18 per cent less UK shares than their benchmarks suggested they should in February, compared to a 12 per cent overweight position on European stocks, according to Bank of America’s latest Global [...]
Bank of England still on track to cut interest rates despite surging wages February 18, 2025 "Pay growth went up, but actually not quite as much as we were expecting," Andrew Bailey said at an event in Brussels.