FTSE 100 Live: Lloyds takes profit beat, LSEG new investment October 23, 2025 Good morning from the Morning Wire liveblog team. Just how much is the motor finance redress scheme going to cost Britain’s biggest banks? Yesterday’s results from Barclays offered an insight – and it wasn’t pretty. The Canary Wharf-based bank almost quadrupled the provision it had set aside to cover motor finance claims, from under £100m [...]
UK dividends fall as companies battle challenging economic backdrop October 23, 2025 UK dividends tumbled in the third quarter of the financial year, as large companies made significant cuts to their shareholder payouts. According to the latest dividend monitor from financial services firm Computershare, London-listed firms paid their shareholders £24.6bn in the third quarter, through one off and regular payments. This was a 1.4 per cent year-on-year [...]
Barclays near-quadruples provisions for motor finance scandal October 22, 2025 Barclays has followed suit with its banking peers with a major hike to its motor finance provisions after the financial watchdog launched its industry redress scheme. The FTSE 100 titan set aside an extra £235m for the car mis-selling scandal, taking total provisions to £325m. Barclays operated in the motor finance market under Clydesdale Financial [...]
Lloyds boss: Motor finance redress wipes 20-year profit off industry October 21, 2025 The boss of Lloyds Banking Group has warned the financial watchdog’s motor finance redress scheme could knock two decades of profitability off the car finance industry. Charlie Nunn, the bank’s chief, has doubled down on the lender’s previous warning shots, adding he didn’t think the scheme was “proportionate”. The FTSE 100 titan has pulled no [...]
Bank of England: Global crisis ‘alarm bells’ in private credit October 21, 2025 The Governor of the Bank of England has warned of “alarm bells” in the private credit market as he cautioned of consequences parallel to the 2008 global financial crisis. Andrew Bailey told lawmakers on Tuesday the collapse of US car parts maker First Brands and auto-dealership Tricolor could be “the canary in the coalmine” as [...]
Analysts dampen outlook for FTSE 100 banks as tax clouds gather October 21, 2025 The UK’s top banks are gearing up for a third-quarter reporting season where all eyes will be on the Labour government’s second Autumn Budget. Speculation of a bank tax hike has dominated chatter around the sector in recent months and elevated fears across the City. It also comes alongside flaring tensions between the lending industry [...]
Lords grill FCA on ‘deep lack of clarity’ in motor finance redress October 15, 2025 A committee of lawmakers has blasted the Financial Conduct Authority over the “deep lack of clarity” it provided over its motor finance redress scheme. Lord Forsyth, the chair of the House of Lords Financial Services Regulation committee, said at an evidence session the City watchdog had “made it considerably more complicated and costly” in its [...]
UK banks tax rate rises as fears of a budget raid spike October 15, 2025 The tax rate on the UK banking sector rose in the last financial year as the industry braces for a potential hike to its financial burden in the Autumn Budget. A fresh study from banking industry body UK Finance and PwC revealed London lender’s total tax rate rose 0.6 per cent to 46.4 per cent [...]
Lloyds Bank shares edge up despite £800m motor finance hit October 13, 2025 Lloyds Banking Group has taken a swipe at the City watchdog after being forced to hike its provisions for the motor finance scandal to £2bn. The banking giant said the redress scheme was not proportional or reasonable in ensuring customers were rightly compensated and it did not reflect the “actual loss” of borrowers. It added [...]
Lloyds banking group acquires remaining stake in Schroders personal wealth October 9, 2025 Lloyds Banking Group has completed the full acquisition of Schroders’ personal wealth arm, six years after the establishment of the unit. Lloyds acquired the remaining 49.9 per cent of Schroders Personal Wealth (SPW) from the asset manager, handing the bank sole control of the business. Lloyds noted the acquisition will support the group’s “ambition to [...]