Will UK mortgage rates rise even more if US inflation stays hot? April 13, 2024 London markets have been spooked by worse-than-expected economic data across the pond that has raised uncertainty over when central banks will start lowering interest rates. So what does this mean for mortgages?
Jane Fraser’s overhaul marks Citi results as profits hit by severance costs April 12, 2024 Citi's results continued to bear the impression of Jane Fraser's restructuring plans, as profit fell sharply compared to the year before.
Wells Fargo profit falls as customers cash in on higher interest rates April 12, 2024 Wells Fargo outperformed market expectations in the first quarter of the year despite reporting a hefty fall in interest income.
JP Morgan profit surges on higher rates and First Republic purchase April 12, 2024 JP Morgan’s profit surged above expectations to $13.4bn in the first quarter of this year, up from $12.6bn a year earlier, thanks to higher interest rates and its takeover of First Republic. Revenue for the bank totalled $42.6bn, above expectations of $41.9bn, while earnings per share sat at $4.44, compared to estimates of $4.11. Significantly, [...]
Lenders expect higher default rates on mortgages and credit cards in coming months April 11, 2024 British lenders are seeing increasing demand for mortgages and credit card lending but higher default rates, according to an official survey, as households and businesses struggle with elevated borrowing costs.
Plant grant: UK businesses to benefit from UBS £10k Chelsea Flower Show boost April 10, 2024 In the Great Pavilion of this year's show will be RHS x UBS A Day on the nursery: insights into life as a grower will showcase the hard work and skill of nursery growers. This will highlight four nurseries who specialise in edibles and wildflowers.
Lloyds to cut jobs in risk management after finding it was a ‘blocker’ to transformation progress April 10, 2024 Lloyds Banking Group is preparing to axe roles in its risk management division after finding that it was a "blocker" to the company's transformation strategy.
More than 7m Brits struggling with bills and credit repayments in January, regulator finds April 10, 2024 Around one in seven, or 7.4m, UK adults were struggling to pay their bills and credit repayments in January, according to a survey by the City regulator, as the cost of living crisis continues to bite.
Big US banks JPMorgan, Citi and Wells Fargo to benefit from slower Fed interest rate cuts April 9, 2024 JP Morgan, Citi and Wells Fargo will all update investors on their performance so far this year with attention likely to be firmly fixed on their guidance for the year.
Klarna: Three-quarters of staff now use AI tools like ChatGPT as fintech looks to reduce hiring April 9, 2024 Around three-quarters of employees at Klarna now regularly use tools like ChatGPT, its head of artificial intelligence has told Morning Wire, as the buy-now pay-later giant leverages the technology to reduce hiring costs.