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 [...]
Vault Festival, London’s take on Edinburgh Fringe, desperately needs our help February 20, 2023 Just under Waterloo Station, you'll find a venue which for eight weeks every year creates a fertile ground of comedy, cabaret and the dramatic arts. The Vault Festival has brought us comic relief, but now it's being turfed out of its unique venue and needs Londoners to save it, writes Adam Bloodworth.
Buy-now pay-later complaints jump as shoppers rely on providers amid cost of living crunch February 19, 2023 Shoppers are filing more complaints about buy-now pay-later (BNPL) firms to the UK's financial complaints body as shoppers turn to firms like Klarna and Zilch to fund their spending in the cost of living crisis.
Week ahead: UK January borrowing bill to hit £5bn to pay for cost of living support, experts predict February 19, 2023 Britain is expected to have borrowed around £5bn last month, largely to pay for household energy support, new figures out from the Office for National Statistics (ONS) this week are poised to show. The difference between what the government spends and takes in tax revenue – the deficit – is likely to have been kept [...]
Cost of living: Brits switch to discount brands while 1.7m have cancelled subscriptions like Netflix, reveals Lloyds February 17, 2023 A fifth of people polled by Lloyds Bank have switched to discount brands in a bid to save cash to cope with the cost of living, while 1.7m have cancelled subscriptions like Netflix, it has been revealed. The shift to discount shopping has been significant during the cost of living crisis, with an 18 per [...]
Will Heathrow airport’s resurgence boost the profits of British Airways’ owner IAG? February 17, 2023 British Airways’ parent company is set to return to profit for the past year as it continues its turbulent recovery. International Consolidated Airlines (IAG), which also runs Spanish operator Iberia, will reveal its latest annual financial figures on Friday February 24. It comes amid early positivity in the sector, which has helped support a 30 [...]
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.
UK retail sales’ sluggish new year start as cash-strapped Brits go online to nab deals February 17, 2023 UK retail sales remained muted in January following December’s fall, with fuel sales spiking and prices continuing to plummet. The Office for National Statistics (ONS) released the figures which showed retail sales volumes increased by just half a per cent last month. This comes after it dipped by 1.2 per cent in December, despite the [...]
Wagamama owner has ‘little hope for future’ activist shareholder says, urging major strategy overhaul February 16, 2023 Wagamama owner The Restaurant Group has shown “little hope for the future” and is in need of a strategy overhaul, an activist shareholder has urged. Oasis Management, a hedge fund which holds a 6.5 per cent stake in the company, called on the hospitality firm to “re-align its priorities” and take immediate steps to restore [...]
Concern for millions as Ofgem confirms forced prepayment meter ban ends in April February 16, 2023 The suspension on forced installations only extends until the end of March, confirmed watchdog Ofgem in a letter to suppliers.