Let the payouts commence: As HSBC profits top £4.3bn, banking giant looks likely to appease Asian shareholders February 21, 2023 HSBC promised large payouts in 2023 to appease activist shareholder Ping An after comfortably beating market expectations in the final quarter of 2022. HSBC’s pretax profit for the final quarter nearly doubled to $5.2bn (4.3bn), beating market expectations of $5bn. This brought the bank’s total profit for 2022 to $17.5bn, seven per cent lower than [...]
London leads the way: SME confidence rebounds to nine month high after 50,000 firms folded last year February 21, 2023 Confidence among small and medium-sized businesses (SMEs) continues to grow across the UK, with London leading the way, new data out today showed. 60 per cent of respondents in the capital expect their revenue to grow this quarter while they intend to make 12 new hires this quarter, according to Barclays SME Barometer. London is [...]
Jeremy Hunt’s fiscal rules are holding back the UK economy – it’s time for change February 21, 2023 Bean counters are running the Treasury again. I’m imagining sheets of paper plastered with Jeremy Hunt’s current fiscal rules pinned up around Whitehall to remind departments of the belt-tightening needed to balance the books. Fiscal rules are targets Chancellors have aimed to meet since George Osborne pivoted away from Gordon Brown’s “Golden Rules” in 2010 [...]
Pressure mounts on Sunak over planned six per cent rise in corporation tax February 20, 2023 Prime minister Rishi Sunak is facing down the prospect of a rebellion over next month’s budget as renewed pressure mounts over a planned increase in corporation tax increase. Seven top Tory backbenchers and business owners including Wetherspoons boss Tim Martin have urged Sunak and chancellor Jeremy Hunt to scrap the planned six per cent rise. [...]
Energy providers demand government incentives to stop UK providers losing out on green projects February 20, 2023 The energy sector is ramping up pressure on the government to bolster the investment climate for green projects.
Analysis: Fintechs need to get back to basics and forget the flashy stuff February 20, 2023 Fintech firms in the UK have long driven new products trying to change the game in financial services, but as investment dries up in the face of a recession, they need to go back to basics, writes Lyle Wraxall.
Lloyds Bank profit poised to be held back by setting aside millions to cope with cost of living defaults February 20, 2023 A build up of reserves to cope with an expected jump in loan defaults and a slow down in the mortgage market is expected to have held back profits at Lloyds Bank last year, results out on Wednesday could show. Britain’s biggest mortgage lender is poised to be the latest bank to underwhelm markets in [...]
BP and Shell: Will the mega profits of energy giants power our greener future? February 20, 2023 BP and Shell have pledged to ramp up renewable spending to meet the UK's climate and energy security goals, but can we trust them?
The most Googled property investment questions, answered February 18, 2023 Investing in property can be daunting for the uninitiated – we asked Gordie Dutfield, CEO of Redmayne Smith to answer the most asked property investment questions on Google With so much potential when it comes to creating a passive income and building your own investment portfolio, it is no surprise that people want to learn [...]
EDF UK rakes in £1.1bn profits powered by record electricity prices February 17, 2023 EDF UK has raked in hefty profits, with soaring electricity prices powering its rebound from last year's losses.