Technology can help bridge the divide between tenants and landlords September 1, 2020 Covid-19’s impact on the world has been seismic. Closer to home, the UK is facing its worst recession in decades if not centuries, and recently the government’s debt exceeded the size of the economy for the first time in more than half a century. But the crisis could have been so much worse without technology. [...]
Lloyds swings to loss as it sets aside extra £2.4bn for bad loans July 30, 2020 UK banking giant Lloyds swung to a £600m pre-tax loss for the first half of the year today as coronavirus cost it an extra £2.4bn. The provision for loan losses was bigger than the £1.5bn analysts had anticipated. It took total provisions for the first half of the year to £3.8bn. Read more: Barclays braces [...]
Halifax: UK house prices suffer longest fall since 2010 July 7, 2020 UK house prices fell for the fourth month in a row in June for the first time since 2010, according to Halifax data released today. Unlike rival Nationwide, which found the value of homes shrank for the first time on an annual basis in June, Halifax recorded a 2.5 per cent-year-on-year rise. But as the [...]
UK house prices fall for first time since 2012 amid coronavirus July 1, 2020 UK house prices posted an annual fall for the first time since 2012 in June amid the coronavirus pandemic, according to Nationwide’s index today. Growth turned negative last month with prices slipping 0.1 per cent year on year, following a 1.8 per cent climb in May, Nationwide said. Its data showed UK house prices also [...]
Restaurant bosses call for VAT cut as dining out sector braces for difficult return to business June 16, 2020 Restaurant industry bosses have today urged Boris Johnson to take drastic action, including slashing VAT on the food they serve, to help the struggling sector survive the effects of coronavirus. In a letter signed by the bosses of 90 major chains, Deliveroo founder Will Shu said that the government should also extend its job retention [...]
Profit nearly halves at Nationwide as it books expected coronavirus losses May 29, 2020 Building society Nationwide’s annual profit nearly halved it said today as it warned of rising loan losses due to the coronavirus pandemic. The lender also said it was abandoning some of its member benefit targets in response to the crisis. Nationwide booked a £101m hit from expected credit losses and said it will focus on [...]
Mortgage payment holidays extended until October May 22, 2020 The financial watchdog has today extended payment holidays to support those struggling to pay their mortgage due to coronavirus. The Financial Conduct Authority (FCA) said banks can extend the mortgage holidays for a further three months up to the end of October. It comes after chancellor Rishi Sunak extended the furlough scheme to October to [...]
Co-operative Bank takes £12m hit from coronavirus as losses continue May 6, 2020 The Co-operative Bank booked a loss in the first quarter as it took a £12m hit from coronavirus, it has said in a trading update. The challenger bank said today that it made an underlying loss of £14.2m in the first three months of the year. This was down from a loss of £5.1m in [...]
Lloyds first quarter profit crashes 95 per cent on coronavirus April 30, 2020 Lloyds Banking Group posted a huge 95 per cent fall in profit for the first quarter of 2020 today as the coronavirus crisis took hold in the UK. Profit before tax slumped to £74m from £1.6bn the previous year as Lloyds took a massive impairment charge of £1.43bn as it expects bad loans to mount [...]
Barclays’ first quarter profit falls by £600m amid coronavirus disruption April 29, 2020 Barclays’ profit has tumbled to £923m in the first quarter, down from £1.54bn in the same period last year, due to the coronavirus pandemic. it revealed today. The bank also booked an impairment charge of £2.1bn, which it said reflected its “initial estimates of the impact of the pandemic”. However, Barclays’ shares jumped five per [...]