Morning in the City: Live news and updates on Nationwide, Lloyds Bank and the rich list May 19, 2023 Good morning and welcome to the Morning Wire Live blog on Friday 19 May. We bring you update from Nationwide Building Society, Lloyds Bank’s new report saying Britain is powering away from a dreaded recession, and GFK consumer figures.
Lloyds AGM hit by flexible working protests after telling staff to come back to the office May 18, 2023 Lloyds’ annual general meeting (AGM) was hit by protests about its flexible working policies and its fossil fuel financing, but all motions ended up passing with massive majorities. Speaking at the bank’s AGM in Edinburgh on Thursday, representatives from Unite argued that trialled changes to its hybrid working policies disadvantaged women, carers and working parents. [...]
Lloyds profits swell by nearly 50 per cent as bank boosted by interest rate rises but guidance remains unchanged May 3, 2023 Lloyds first quarter profits rose 46 per cent as the bank became the latest UK lender to see its bottom line boosted by a hike in interest rates. The lender’s pre-tax profits came in at £2.3bn compared to £1.5bn the same quarter last year. Charlie Nunn, chief executive of Lloyds Banking Group said: “The group [...]
FTSE 100 close: Wall Street sea of red offsets HSBC and Persimmon gains in London May 2, 2023 London’s FTSE 100 was dragged deep into the red in the final hours of trading today after Wall Street was pushed lower by investors sweating over more possible banking collapses. The capital’s premier index initially climbed in the morning before eventually closing 1.23 per cent lower at 7,774.12 points, while the domestically-focused mid-cap FTSE 250 [...]
Recession knife-edge: Consumer spending on credit at £1.3bn as house prices continue to slide May 2, 2023 Britain’s better than expected economic performance since the turn of the year is poised to have lured consumers into splashing the cash on their credit cards, new numbers out this week are tipped to show. Families are tipped by markets to have borrowed £1.3bn in March, which would signal spending in the UK is holding [...]
Lloyds Bank orders staff to return to the office ‘at least’ two days a week April 28, 2023 Hybrid workers will have to spend at least two days a week in the office, Lloyds has told staff, with “card swipe data” used to monitor their return.
Sir Win Bischoff ‘was a giant of our industry’ JP Morgan chief Jamie Dimon says after City grandee dies aged 81 April 26, 2023 Heartfelt tributes have been paid to City grandee Sir Win Bischoff who has died at the age of 81 following a short illness. The German-born banking boss who had top roles at Schroders, chair of Lloyds Banking Group and Citigroup, as well as JP Morgan, enjoyed a 50-year career in both the City and Wall [...]
CBI exodus: Which firms have quit or suspended their relationship with the lobby group? April 21, 2023 A slew of top firms have quit or suspended engagement with the CBI today after the lobby group was rocked by new allegations of sexual abuse.
FTSE 100 close: London index muted as Barclays and Lloyds Bank give up early gains April 20, 2023 London’s FTSE 100 was muted today as investors ditched mining giants, curbing the sector’s recent rally, while high street banks gave up strong early gains. The capital’s premier index edged 0.01 per cent high to 7,899.48 points, while the domestically-focused mid-cap FTSE 250 index, which is more responsive to sentiment toward the UK economy, nipped [...]
FCA will ‘keep its eyes’ on banks’ Q1 results for evidence of savings rate profiteering April 20, 2023 Savers are facing a rising “loyalty penalty” from high street banks, the Financial Conduct Authority (FCA) has warned. Customers banking with the UK’s big name lenders are likely to earn less competitive interest rates on their savings over time, while new savers are given more attractive offers, the City watchdog told MPs today. “Harm” from [...]