FTSE: Lloyds, Barclays and Natwest shares surge on Bank of England surprise interest rate hike December 16, 2021 London markets are up around one per cent this lunchtime after a surprise interest rate hike from the Bank of England saw Lloyds Bank, Barclays and Natwest shares take off. The capital’s premier FTSE 100 index was still up 0.99 per cent after the rates call from Threadneedle Street, while the mid-cap FTSE 250 index, [...]
Unions press Lloyds to implement four-day working week December 12, 2021 Trade unions are pressing the UK’s largest mortgage lender Lloyds Bank to implement a four day working week without slashing pay. The bank has been asked by Unite and Accord to reduce the working week as part of salary negotiations, according to The Sunday Telegraph, who first reported the news. Unions are pressing Charlie Nunn, [...]
LendInvest benefits from property boom with profits surging December 9, 2021 LendInvest, the tech driven asset manager for property finance in the UK, announced a revenue growth of 28 per cent this morning of £72.4m, compared to the same period last year.
Paragon Banking Group reports record full year profits on lending surge December 7, 2021 Challenger bank Paragon Banking Group has reported “outstanding” full year performance as lending volumes across the business swelled above pre-pandemic levels. “We have delivered an outstanding performance in 2021, which is testament to the strength of our operating model, the quality of our customer base and the capability and adaptability of our people,” chief executive [...]
Warnings housing market may ‘enter bubble territory’ if lending checks eased December 6, 2021 The Bank of England is readying itself to relax mortgage lending rules despite fears it will trigger a housing bubble, it has been reported. The Telegraph reported that policymakers are looking at relaxing affordability checks for borrowers. The rule changes are being mulled amid a review of market restrictions this will finish shortly. Officials are [...]
TSB’s Debbie Crosbie becomes Nationwide’s first female chief exec December 3, 2021 Nationwide Building Society, Britain’s second-biggest provider of home loans, said this morning it has appointed Debbie Crosbie as its new chief executive officer. Crosbie, who is currently the chief exec of Spain’s Sabadell’s TSB unit, will take over from Joe Garner in the new year. She will be the group’s first female executive director, Nationwide [...]
City Moves: Who’s switching jobs in the Square Mile today? December 2, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. JP Morgan JP Morgan Asset Management hired a global head of investment stewardship to lead in Europe, the Middle East and Africa at the beginning of the year, and yesterday expanded the role. In the newly created [...]
Nationwide profit more than doubles as UK economy recovers November 19, 2021 Nationwide has reported that its profits more than doubled for the half-year, amid the UK's economic recovery.
September house prices show ‘last of stamp duty sizzle’ November 17, 2021 UK house prices leapt in the year to September in the run up to the final stamp duty holiday deadline, government figures show. HMRC’s latest house price index shows that house prices climbed 2.5 per cent in September and 11.8 per cent annually. The average price of a property in the UK was £269,945, hitting [...]
Co-op bank turns corner as net lending tops £2bn November 5, 2021 The Co-operative bank has published a healthy set of financials for the first nine months of the year after turning a loss in 2020. The bank reported statutory profit before tax of £28.5m and underlying profit of £24.9m, a marked improvement on last year when the bank saw a loss of £68.1m before tax. The [...]