London house prices suffer worst plunge in 10 years July 17, 2019 London house prices suffered a staggering 4.4 per cent annual drop in May, their worst annual drop since the financial crisis, public data revealed today. While UK house prices rose 1.2 per cent compared to May 2018, London house prices sank, the Office for National Statistics (ONS) revealed. Read more: UK house prices slip for [...]
CYBG to rebrand as Virgin Money to ‘disrupt status quo’ of UK banking June 19, 2019 Clydesdale and Yorkshire bank owner CYBG will be renamed Virgin Money in a major rebranding to “disrupt the status quo” of UK banking. CYBG acquired Virgin Money last year in a £1.7bn deal and will now adopt its name across its business by the end of the year. Read more: CYBG shares jump as it [...]
Clydesdale Bank owner CYBG shares jump as it hits profit after £1.7bn Virgin Money merger May 15, 2019 Clydesdale Bank owner CYBG reported a profit boost in its first set of results since combining with Virgin Money after a “resilient” performance in tough market conditions. Read more: CYBG raises business banking fees weeks after RBS competition fund snub Shares in the bank rose more than seven per cent in early trading after the results [...]
Lloyds Banking Group: Q1 results analysis May 7, 2019 By Graeme Evans from interactive investor. After a stunning share price performance, do these 'hit and miss' results justify optimism? Lloyds Banking Group (LSE:LLOY) investors, in need of a silver lining after an underwhelming earnings season from UK lenders, only have to look back 24 hours earlier to the surprise gift handed to the bank [...]
Restructuring and foreign currency headwinds hammer Santander profits April 30, 2019 Santander saw profits fall by a tenth as the Spanish banking giant kicked on with a major restructuring in the UK and Poland. Read more: Santander and Barclays face lawsuits over film financing schemes The company was also hit by high inflation in Argentina which hampered earnings further, despite customer growth across its core markets [...]
Barclays shares: Optimists see an opportunity April 29, 2019 By Graeme Evans from interactive investor. These results do not impress, but there’s lots going on at Barclays and plenty to interest investors. Without the attention generated by activist investor Edward Bramson, it’s likely that last week’s lacklustre investment banking performance at Barclays (LSE:BARC) may have been passed off as just another quarter blighted by [...]
RBS profits sink as bank warns future earnings face pressure from Brexit uncertainty April 26, 2019 RBS profits fell in the first three months of 2019, it revealed a day after its chief executive announced his intention to resign. Ross McEwan yesterday announced he would step down after five-and-a-half years at the helm, saying he had achieved his strategy to refocus the bank after its £45.5bn government bailout. However, today the bank warned [...]
Barclays profits fall as investment banking unit struggles ahead of Bramson showdown April 25, 2019 Barclays profits fell 10 per cent over the first three months of 2019 as its under-fire investment bank endured a “weak quarter” ahead of next week’s showdown with activist investor Ed Bramson. But chief executive Jes Staley said the investment bank outperformed all but one of its US rivals and gained market share for the [...]
Tatton Asset Management shares plummet as consulting arm under pressure April 16, 2019 Shares in Tatton Asset Management fell 12 per cent this morning despite increasing assets and inflows as the firm reported that its consulting arm faced downward pressure on revenue. Assets under management soared 24.5 per cent to £6.1bn in the financial year, growing seven per cent in the six months to the end of March [...]
London house prices rise as estate agents predict Brexit delay will spur demand for family homes April 15, 2019 London house prices ticked up this month as sellers raised their expectations as demand from families combined with a Brexit delay for an anticipated spring bounce. Read more: Brexit uncertainty will drag down London house prices over 2019 The average price of new-to-the-market homes saw their largest April rise since 2015, growing 1.1 per cent [...]