A year on, Rishi Sunak has swapped a fast death for the Tories for a slow one October 26, 2023 Sunak has set the Conservatives them on a path towards slow deterioration rather than sudden implosion.
Fierce mortgage competition to weigh on banks’ margins, warn brokers October 25, 2023 Mortgage profitability is a key focus for investors as lenders have significantly reduced rates in recent months.
Two more years of misery for London housing market, analysts suggest October 25, 2023 A recent report suggests house prices, including those in London, to decline in the coming months, but the decline will "not likely be sufficient".
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 [...]
Brits lose ‘staggering’ £580m to fraud in six months as banks urge Big Tech to do more October 25, 2023 After Fraudsters took £580m from Britons in 2023, the banking trade association UK Finance called the issue a "national security threat".
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 [...]
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?
FTSE 100 close: London ticks up on economic data, banking stocks pare losses October 24, 2023 London’s FTSE indices closed higher on Tuesday, paring losses from this morning as investors mulled key economic data and the state of the UK’s banking sector. The blue-chip FTSE 100 traded 0.2 per cent higher at 7,389.70, while the mid-cap FTSE 250 dropped 0.38 per cent to 16,994.10. Investors weighed S&P Global’s Purchasing Managers’ Index, [...]
UK economy continues to ‘skirt with recession’ due to Bank of England’s interest rate hikes October 24, 2023 The UK economy is teetering on the edge of a recession under the weight of higher borrowing costs, a closely watched survey suggests.
Unemployment lower than expected in new ‘experimental’ figures – but experts raise concern over data quality October 24, 2023 Figures out last week showed that average wage growth had slowed slightly, with total annual wage growth falling to 8.1 per cent compared to 8.5 per cent in the previous reading.