HSBC, Britain’s largest bank, has unveiled an ambitious cost-cutting programme that will reduce its workforce costs by 8 per cent, targeting savings of $1.5 billion. The bank’s new chief executive,
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The Supreme Court delivered a significant blow to Chancellor Rachel Reeves on Monday by rejecting her attempt to intervene in a landmark case concerning the motor finance commission scandal, which
The Financial Conduct Authority (FCA) has initiated an enforcement investigation into Barclays’ compliance with anti-money laundering controls, marking yet another regulatory challenge for the troubled British banking giant. The FTSE
The FTSE 250 lender Close Brothers has announced it will set aside up to £165 million in its first half to address potential legal and compensation costs amid the growing
Leading City advisers and financial institutions are poised to share a substantial £120 million in fees following Aviva’s landmark £3.6 billion acquisition of Direct Line. The deal, marking one of
In a significant move that signals mounting concerns over economic growth, the Bank of England has reduced its base interest rate to 4.5%, whilst simultaneously cutting its UK growth forecasts
A significant legal setback has struck Lloyds Banking Group as a tribunal ruling determines the banking giant owes approximately £1 billion to HM Revenue & Customs. The First-tier Tribunal Tax
The Bank of England is expected to announce its third interest rate cut in six months this Thursday, with analysts predicting a reduction to 4.5 per cent from the current
Britain’s Santander banking division has reported a substantial 38% drop in annual profits, intensifying speculation about its Spanish parent company’s commitment to the UK market. The high street lender saw
The Spanish banking powerhouse Santander’s chief executive Ana Botin has firmly rejected speculation about the potential sale of its UK operations, emphasising Britain’s position as a core market for the
Deutsche Bank’s profits have experienced a dramatic 92 per cent decline in the last quarter, prompting Chief Executive Christian Sewing to announce a comprehensive review of the bank’s operations where
A significant surge in gold movements to the United States has triggered a severe shortage of bullion in London, as traders build an enormous $82bn stockpile in New York amid
In an embarrassing turn of events, Virgin Money’s AI-powered chatbot has publicly scolded a customer for using the word “virgin” in their query, highlighting the potential risks of deploying external
Britain’s largest high-street bank, Lloyds Banking Group, has unveiled plans to shutter 136 branches across its network as part of its ongoing digitalisation strategy. The closure programme encompasses 61 Lloyds
The long-running legal dispute between Mastercard and former financial ombudsman Walter Merricks has reached a settlement, with the credit card giant agreeing to pay £200 million to resolve claims over
The board of British digital banking powerhouse Monzo remains divided over the location of its potential market listing, with chief executive TS Anil leaning towards a US debut that could