Banking

The Treasury has refused to extend the supervision arrangements beyond this year. Under the so-called State Aid rules, which were in place when the UK was a member state of the European Union at the time, RBS gave money to smaller…

In 2023, global banks will have eliminated over 60,000 jobs. This is one of the most significant years of cuts since the financial crises. They also reversed a large portion of their hiring after the Covid-19 pandemic. Investment Banks…

Barclays reached an agreement to remain in its Canary Wharf HQ until at least 2039. This is a major boost for London's Docklands Financial Centre after other high profile tenants chose to move elsewhere. The bank has extended its lease…

The bond markets are getting ahead of themselves by anticipating a sharp fall in the Bank Rate for next year. CPI inflation is down from double-digit levels last year. At 4.6pc, the CPI inflation rate is still more than double what it…

Investors have warned that the Bank of England is facing a stubborn inflation problem which may prevent it from reducing interest rates as dramatically as its peers next year. The central bank is preparing for its final policy session of…

Western world's biggest central banks will likely keep interest rates at the same level this week, amid concerns about stubbornly high inflation. This is despite expectations of sharp reductions in borrowing costs for next year. In a…

The Bank of England has warned that private credit and leveraged loan markets are vulnerable to "sharp" revaluations. This is its latest warning about the risks in non-bank financing. The BOE Financial Policy Committee warned about…

Qatar's sovereign fund has reduced its stake in Barclays. The UK bank is under pressure to revamp its strategy and improve performance by investors. Qatar Holding, a subsidiary of Qatar Investment Authority, sold nearly 362 million…

Lloyds Bank's chief executive has asked Labour and the Government not to impose a windfall tax in his industry, citing "nervousness". Charlie Nunn is the chief executive officer of Britain's biggest lender. He said that politicians need…

Barclays is considering dropping many investment bank clients to increase profits and reduce costs by £1bn. Barclays' executives met more than once this year to discuss the restructuring. The codename for the project is Minerva, after the…

Andrew Bailey said that the economic outlook is the worst of all times, and Britain is struggling to increase low levels in growth. The Bank of England Governor expressed concern over UK future prospects, just days after the Office for…

Metro Bank will soon sell a significant portion of its mortgage portfolio to Barclays, after shareholders approved a £925m bailout deal. The troubled lender has been in discussions with potential buyers to offload about £3bn of homeowner…

Lloyds Banking Group is preparing to restructure their business in order to focus more on digital services. A person with knowledge of the situation says that the bank will be reviewing thousands of middle management positions. This…

The European Central Bank warned that bank losses in the Eurozone will continue to rise as high rates of interest hit households, businesses and companies. ECB Vice-President Luis de Guindos stated that lenders are beginning to…

Andrew Bailey warned the markets not to underestimate the UK's persistent inflation, and emphasized that he expects the Bank of England to keep interest rates at high levels for a long time. The BoE Governor told MPs Tuesday that…

A top investment bank warned that the Bank of England’s decision to sell off government bonds costs taxpayers £15bn a yearly and limits Jeremy Hunt’s ability to reduce taxes. Deutsche Bank stated that Threadneedle's decision to…

The scale of the interest rate hikes has not yet been fully felt, so optimism may be short lived. The British economy seems to have escaped a bullet. is not in a recession despite a massive energy price spike last winter,…