Banking

The Bank of England stands ready to implement its second interest rate reduction of the year, with economists widely expecting a cut to 4.75 per cent at Thursday's meeting. The nine-member Monetary Policy Committee (MPC) is predicted to…

A groundbreaking court ruling involving a £1,651 commission on a Suzuki Swift could trigger a devastating £13 billion compensation crisis for the car finance industry. Marcus Johnson, a 34-year-old factory supervisor from Cwmbran,…

Major car finance companies have suspended lending operations following a groundbreaking Appeal Court ruling, throwing Britain's automotive sector into disarray. The judgement, which found lenders liable for undisclosed commissions, has…

Leading financial institutions have engaged in urgent discussions with the UK Treasury amid growing concerns about potential upheaval in the consumer credit sector following a groundbreaking court ruling on car finance commissions. The…

Lloyds Banking Group said that it is assessing the impact of , a landmark ruling by a court on Friday over mis-selling of car finance. This could lead to lenders compensating borrowers in billions of pounds. The bank did not provide any…

After a judge ruled that auto finance companies had hidden commission payments from their customers, borrowers could bring claims against banks totaling billions of pounds for mis-sold mortgages. Lloyds Bank announced on Monday that they…

Global investment banks are expecting UK debt sales to reach £300bn this year, the second highest on record. The government is preparing for a showdown against bond investors during this week's Budget. Gilts could have their worst month…

Barclays' British High Street business performed better than expected, and its investment bank has resumed deal-making. This led to a larger than forecast increase in the lender’s quarterly profit. The FTSE 100 results on Thursday were a…

The UK's largest mortgage lender, which is also the country's largest bank by assets, has raised its expectations for house prices to rise this year. It has also posted a better-than-expected quarterly profit as customers are more…

HSBC bankers are bracing for job loss after the new boss announced the largest overhaul in decades. The lender's operations will be divided between East and the West to reduce costs due to mounting geopolitical tensions. Georges Elhedery…

Volkswagen's motor finance division has been fined £5.4m by the City regulator, and will pay more than £21.5m in compensation. This is for its "serious failures" in treating customers in distress. The Financial Conduct Authority…

Goldman Sachs forecasts that the Bank of England will cut interest rates faster than investors expect over the next 12 months. Researchers from the Wall Street Investment Bank said that UK's real underlying interest rate has increased to…

The European Central Bank has reduced its interest rates for the first time in over a decade. It has lowered its key rate 25 basis points to help support a weakening eurozone economy. The bank has lowered its main deposit rate from 3.5 to…

The Bank of England has predicted that the base rate will be further reduced this year due to a larger-than expected fall in consumer price inflation. This is good news for homeowners. CPI dropped from 2.2% in the previous year up to…

Morgan Stanley beat profit expectations on an impressive third quarter in investment banking, which also boosted rivals and sent its stock to record levels. The American bank announced that its profit increased 32 percent to $3.2 billion…

Goldman Sachs profit increased by 45 percent to $3 billion, the best quarter in equities since 2021. This is a sign of optimism for the strength and stability of the American economy. The US investment bank was able to beat analysts'…

Their bosses said that the top five British banks could help the government achieve growth and prosperity if they were shielded from additional regulations. HSBC, Lloyds, Santander, NatWest, Barclays and NatWest leaders called today for…

The UK's financial watchdog has fined TSB Bank £10.9m after finding that its "woreful" system put customers at risk. The Financial Conduct Authority (FCA), after finding that TSB had not treated customers with arrears in a fair manner,…