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Banking
De La Rue Share Talks With Truell Backed Investors Over 40 Per Cent Stake
De La Rue, the historic British banknote printer, is engaged in significant discussions with investment vehicles led by prominent City financier Edi Truell regarding a substantial shareholding acquisition. The talks centre on a potential…
Sterling Soars to Post Brexit High as European Central Bank Slashes Rates Again
The British pound achieved a remarkable milestone today, touching its highest level against the euro since the Brexit referendum following the European Central Bank's fourth interest rate cut of 2024. The decision saw rates lowered to 3 per…
HSBC Set to Scale Back Retail Banking Operations Beyond UK and Hong Kong Markets
HSBC, one of the world's largest banking organisations, is undertaking a strategic review of its retail banking operations outside its core markets of the UK and Hong Kong, potentially leading to significant scaling back in several…
UK Supreme Court to Hear Car Finance Misselling Appeal as Bank Shares Rally
British banks witnessed a significant share price surge after the Supreme Court granted permission to hear an appeal concerning car loan misselling claims, potentially worth billions of pounds in compensation. Close Brothers experienced an…
Bank of England Issues Stark Warning Over Hedge Fund Activity in Gilt Market
The Bank of England has raised significant concerns about hedge funds' growing influence in the UK government debt market, highlighting potential systemic risks to financial stability. Deputy Governor Dave Ramsden has specifically pointed…
St Jamess Place Abandons Luxury Events in Major Corporate Image Overhaul
Britain's largest wealth manager, St James's Place (SJP), has made the decisive move to terminate its annual extravagant staff gatherings in London and the prestigious spring sports retreat at Scotland's Gleneagles hotel, marking a…
Standard Chartered Sets Ambitious £200 Billion Pounds Target for Wealth Management Growth
Standard Chartered has unveiled plans to secure £200 billion in new assets, capitalising on clients seeking to relocate businesses from China amidst potential tariff threats from president-elect Donald Trump. The FTSE 100 bank, with its…
Car Finance Legal Ruling Sparks Investment Concerns at Lloyds Banking Group
The chief executive of Lloyds Bank has warned that a recent legal ruling concerning car financing agreements has created significant investment uncertainty within the consumer finance sector. Charlie Nunn expressed serious concerns about an…
UK Economy Could Dodge Trump Tariff Impact Due to Services Sector Dominance Says Bank Chief
The United Kingdom's heavy reliance on services exports could shield it from the worst effects of Donald Trump's proposed tariffs, according to Bank of England Governor Andrew Bailey. The central bank chief's optimistic outlook comes amid…
Bank of England Governor Signals Four Interest Rate Cuts for 2025 as UK Inflation Stabilises
The Bank of England's Governor, Andrew Bailey, has indicated that four interest rate cuts are likely in 2025, marking a significant shift in the UK's monetary policy stance. Speaking at the FT's Global Boardroom conference, Bailey…
UK Labour Market Data Delays Until 2027 Pose Critical Risk To Economic Decision Making
A stark warning has emerged from a Commons committee regarding the two-year postponement in reforming the UK's official labour market statistics. The delay represents a significant setback that could lead both the Bank of England and the…
Trumps New Treasury Pick The Billionaire Who Once Broke The Bank of England
Scott Bessent, the 62-year-old billionaire hedge fund investor set to become the US Treasury secretary under president-elect Donald Trump, brings a remarkable history of market-moving prowess to one of the world's most powerful economic…
Metro Bank Directors Signal Confidence with Share Purchases as Profits Show Signs of Recovery
Metro Bank's senior leadership has demonstrated renewed confidence in the company's trajectory through significant share purchases, following a period of regulatory challenges and financial turbulence. The bank's share price has witnessed a…
McKinseys Secretive 48 Billion Hedge Fund Revealed
A shadowy investment powerhouse has emerged from within the halls of global consulting giant McKinsey, managing a staggering $48 billion exclusively for its current and former partners. McKinsey Investment Office (MIO Partners), which began…
Bank of England Signals Alarm Over Global Trade War and Financial System Risks
The Bank of England has issued stark warnings about mounting risks to the UK's financial system, citing concerns over potential trade wars, geopolitical instability, and rising government debt burdens. The UK's position as an open economy…
Mortgage Crisis Looms as Millions Face Higher Payments in Next Three Years
More than 4.4 million British homeowners are bracing for significant increases in their mortgage payments over the next three years, according to a stark warning from the Bank of England. The impact will be particularly severe for an…
Nationwide Books Massive £23 Billion Pound Gain Following Virgin Money Acquisition
In a significant financial development, Nationwide Building Society has recorded an extraordinary £2.3 billion accounting gain from its Virgin Money UK acquisition, whilst simultaneously reporting a 24% decline in underlying interim…
Dramatic Plunge In SoftBank Backed Symbotic Shares Following Accounting Revelations
Symbotic, the SoftBank-backed warehouse automation software provider, witnessed its shares plummet by more than a third on Wednesday amidst revelations of accounting errors and a downward revision of revenue forecasts.
The…