Lloyds, HSBC, Barclays and Natwest post record £44bn profits from global interest rate hikes February 22, 2024 The UK's biggest banks notched their highest combined annual profits ever last year as interest rate hikes around the world gave lenders gaping margins.
Lloyds sets aside £450m for FCA motor finance probe February 22, 2024 Lloyds Banking Group has reported a record annual profit on the back of higher interest rates while setting aside £450m for a Financial Conduct Authority motor finance probe.
Lloyds set for uptick in annual profits as investors look for clues on motor finance probe February 17, 2024 Lloyds Banking Group is set to report an uptick in annual profits next week on the back of higher interest rates, with its cost control, impairments and exposure to an FCA motor finance probe in focus.
FTSE 100: London markets rise as UK recession and poor retail sales bolster hope for interest rate cuts February 15, 2024 The UK economy shrunk 0.1 per cent in December meaning it contracted 0.3 per cent over the fourth quarter of last year, a worse performance than economists had expected.
Close Brothers faces uncertain future as FCA motor finance probe sparks crisis February 15, 2024 Close Brothers shares collapsed on Thursday after it cancelled its dividend for the current financial year and announced that 2025 payouts would be placed under review amid a City watchdog probe into motor finance - a major part of its business model.
Close Brothers shares collapse after FCA auto finance probe forces it to scrap dividend February 15, 2024 Shares in Close Brothers have collapsed after it scrapped dividend payouts for the current financial year and put 2025 rewards under review, with the group bracing for potential compensation costs from a motor finance review by the City watchdog. The news sent the group’s shares down 28 per cent in London on Thursday morning. Close [...]
Why are UK banking stocks doing so badly despite bumper profits? February 13, 2024 The UK's biggest banks are set to post bumper annual profits when they report their 2023 results in the coming weeks. But why are they not being rewarded on the stock market?
Big banks set for bumper annual profits as interest rates peak February 12, 2024 Britain's biggest banks are set to report strong annual profits over the next two weeks despite mounting margin pressure from a likely peak in interest rates.
S&U plunges 10 per cent after issuing profit warning as motor finance arm suffers from ‘weak consumer confidence’ February 9, 2024 Specialist auto and property lender S&U has issued a profit warning ahead of its full-year results amid an “intemperate economic climate”, while an FCA probe looms over the sector.
UK economy: Consumer borrowing dropped last month in latest recession warning January 30, 2024 Consumer borrowing dropped sharply in December in the latest sign that the UK economy probably slipped into recession at the end of last year.