Banking

In a significant development in the UK's financial sector, Hargreaves Lansdown, the country's largest DIY investment platform, has agreed to a £5.4 billion takeover by a consortium of private equity firms. The deal, which is expected to end…

Metro Bank, once known for its flamboyant branch openings and prominent high street presence, is undergoing a strategic shift under the leadership of Dan Frumkin, the American turnaround specialist who took the helm as chief executive in…

After the Bank of England lowered rates for the first in over four years, the pound and FTSE 100 both fell dramatically. According to central bank forecasts, the economy is expected to grow much faster than originally thought this year,…

The housing market is "relatively stable" despite the fact that many people still struggle to buy their first home. According to Nationwide, Britain’s third largest mortgage lender, the average house price has increased by 2.1% compared…

Barclays posted a better-than expected first-half profit and announced a cash return of £1.2 billion to its shareholders. Its boss said that the turnaround plan was on track. The FTSE 100 lender's pre-tax profit in the six-month period…

Bank of England cuts interest rates first in four years. This is a relief for millions of homeowners, and families who are still struggling with the rising cost of living. After holding borrowing costs at their highest level for more…

The government scrapped a "Tell Sid-style" sale of NatWest share to the public amid fears it could have cost taxpayers up to £450 million. In November, the previous Conservative government floated the idea of selling a part of the nearly…

Standard Chartered bosses say that fears of a China-US trade war under a second Trump presidency are exaggerated. They said the real estate problems in the country were "largely behind us". Bill Winters, the chief executive of the…

The UK's largest domestic lender posted a decline in profits for the first half of the year as the interest rate boom that benefited the banking sector faded. Lloyds Banking Group reported that its pre-tax profit for the six months…

Barclays wants the High Court of London to reduce the value of the £560mn lawsuit filed by investors. This is done by excluding the claims made by passive funds regarding a fall in the share price of Barclays's stock due to regulatory…

The pound reached a new high against the US dollar, as traders re-wrote their bets about a rate cut by the Bank of England in the next month. The pound rose 0.45 percent against the dollar, to $1.30. This is the highest level since July…

Goldman Sachs' chief executive hailed "the early innings of a recovery in capital markets and M&A" after the investment firm announced that its quarterly profit more than doubled from the previous year. The American Investment Bank,…

Lloyds Banking Group is converting disused office buildings into social housing. The UK's biggest mortgage provider will lay the foundations for a new housebuilding boom following Labour's victory in the election. The bank began…

One of Bank of England’s doveish rate-setters called for interest rates to be cut in order to reduce the cost of living, and because inflation is on a “firm downward trajectory”. Swati Dhingra is an external member on the monetary…

Investors in Britain are anticipating a possible cut in interest rates, and have poured money into equity funds faster than ever before. Calastone's latest data on funds flows shows that over £11 billion has been invested in equity funds…

The couple who built an outdoor theater on their Suffolk farm estate were catapulted to the top of Britain's Rich List after they made £2bn off the sale of their financial information business. Mark and Lindy o'Hare who own a Grade II…

The Bank of England warned that millions of UK mortgage holders will soon see their borrowing costs increase. Rightmove reported that the central bank stated more than 3mn home owners still pay interest rates below 3 percent, while…

The Bank of England warned that the uncertainty caused by the global wave of election, which will begin this coming weekend, could destabilise the UK financial system. Officials are worried about the policies that newly-elected…