Banking

The Bank of England is likely to acknowledge this week that it is seeing unexpectedly rapid progress in getting inflation down, analysts said, but the central bank is not expected to begin cutting interest rates yet. The BoE’s Monetary…

In a dispute between Lloyds Banking Group and a businessman worth £1.3 billion, the High Court will hear claims that the Bank of England encouraged manipulation of Libor. Ardeshir Naghshineh is suing Lloyds for allegedly "fraudulently…

CPI on track to reach Andrew Bailey's spring target - when will interest rate drop? Andrew Bailey is being pressed. Andrew Bailey is under pressure. Bailey warned that the last mile in the battle against inflation was the most…

The number of businesses on the verge of bankruptcy has increased by a quarter over the last three months due to a "perfect storm" that includes higher interest rates, increasing costs and a downbeat consumer market. According to Begbies…

After suffering a second consecutive annual loss, the Bank of London, which is a newly formed clearing bank with Lord Mandelson as its chairman, raised £25m in investment funds. After winning a banking license, the company was launched…

After the failure of Silicon Valley Bank UK's UK branch in March, British banks were spared the cost of prefunding an insurance scheme for multi-billion pound deposits. In a Consultation document released on Thursday, the UK Treasury…

Citigroup will launch an investment banking division in China to further its involvement in China’s financial markets, even though rivals are becoming more cautious in the country. A person familiar with the matter said that the large US…

HSBC will launch a payment app in the UK, which will offer foreign exchange at a low price to consumers. The global lender is looking to compete against digital rivals like Revolut and Wise. The UK-based Bank on Tuesday announced that it…

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…