Three-quarters of HR leaders say cost of living pressures impact staff performance February 3, 2024 Research has found that 74 per cent of HR leaders fear the cost of living crisis is affecting employee performance.
Banks facing squeezed margins? ‘Fetch me a smaller violin’, Treasury committee chair says February 1, 2024 Following pressure from the Treasury Committee, the Financial Conduct Authority (FCA) intervened over the summer, prompting high street banks to offer better rates. All over? Not exactly.
Santander UK rides out interest rate peak but expects further mortgage weakness January 31, 2024 High street lender Santander UK has reported a jump in annual profits as it rode out the end of an interest rate spike, while weakness continued in the mortgage market.
Housing: 60 per cent of first time buyers couple up to buy a home January 31, 2024 Nearly two-third of first time buyers are entering the property market with someone else, a new report by Halifax has found. Over 60 per cent of mortgages taken out by first time buyers between January and December last year were taken out in joint names. House prices for first-time buyers remain over £132k more expensive [...]
Lloyds to cut 1,600 jobs in transition from branches to online banking January 25, 2024 Lloyds Bank is to cut some 1,600 jobs across its branch network, a company spokesperson has told City A.M., as part of its shift towards digital services. The move from Britain’s largest domestic bank is the latest in a series of layoffs within the sector amid margin pressure from peaking interest rates and fierce competition [...]
London renters need 209,000 new homes as government told it has ‘huge task on hands’ January 22, 2024 Some 209,000 new rental homes will be needed in London by 2031 to help deal with the capital’s shrinking pool of housing.
Time is up for supermarket challenger banks, analysts say January 18, 2024 Sainsbury's announced on Thursday morning that it would undertake a “phased withdrawal” from its banking business following a strategic review. There are no immediate changes for customers.
Bank of England survey: Default rates continue rising in 2023 – but at slower pace January 18, 2024 According to bank responses to the Bank of England's quarterly credit conditions survey, default rates on secured lending - which includes mortgage lending - increased in the final quarter of 2023.
AJ Bell share price rises as AUA reaches record high thanks to net inflows January 18, 2024 In a trading update covering the three months to December, the firm that AUA in its platform business had climbed seven per cent in the quarter. This brought it to £76.2bn, a new record for the firm.
FTSE 100 today: London markets likely to open in red following weak global cues January 18, 2024 Global stocks fall, China shares hits 5-year low, greenback nears one-month peak, and oil prices rise; focus shifts to Christine Lagarde's speech and U.S. economic data.