Banking

HSBC will make a second effort to combine its Commercial Banking Division with its Global Banking and Markets Unit in a shakeup that could result in hundreds of job cuts among long-serving senior employees. The bank declined to comment…

Pockit, a business that provides financial services to the "unbanked", acquired Monese from HSBC, resulting in a combined company serving three million clients.  Monese, supported by UK taxpayers through the Future Fund scheme, was…

The Bank of England chief economist stated that interest rates should fall slowly and remain higher in the long term to combat stubborn inflation. This suggests a growing disagreement among central bank rate-setters. Huw Pill predicted…

Bank of England monitors the Middle East Crisis amid fears that a worsening warbetween Iran & Israel will make it difficult to stabilize oil prices, leaving the global economy susceptible to an energy shock similar to the 1970s. Andrew…

The first phase of an ambitious project to build the largest wind farm in the world on British waters was pushed to the second half next year. Dogger Bank A was to be completed in the six-month period leading up to the end September. It…

Andrew Bailey said the Bank of England may become "a bit more aggressive" with its interest rate reductions if inflation continues decreasing. Analysts suggest the Bank might embark on successive rate cuts continuing through next year. The…

Banks and investment firms are increasingly worried about geopolitical risk, according to the Bank of England. This is due to the Middle East conflict. In its latest survey, the Bank polled 93 percent of firms who cited geopolitics to be…

The Texan tycoon who led the bankrupt prison-builder ISG to bankruptcy has finally spoken out about the collapse of the company, with details emerging of a debt of $1 billion his firm owes Goldman Sachs. William Harrison III, former…

Goldman Sachs predicted that the pound will reach its highest level against the US Dollar since 2021, thanks to the UK's growing economy and the Bank of England lowering interest rate gradually. The US investment bank predicted that the…

The Bank of England governor has stated that interest rates will continue to fall slowly, even as inflation is brought under control. They are unlikely to return near zero rates of previous decades. Andrew Bailey was "very encouraged by…

One of Britain's largest merchant banks sells its wealth management division for up to £200m to strengthen its balance sheet in preparation for possible regulatory action against its motor finance business. Close Brothers, an American…

After voting 8-1 to not change monetary policy, the Bank of England held interest rates at 5%. The nine-strong monetary committee announced that it would adopt a "gradual" approach to lowering the interest rates, as the inflation rate is…

According to the shadow monetary committee, Bank of England's interest rate should remain unchanged at 5% this month. It also needs to accelerate its gilt sales. The shadow MPC, which is responsible for deciding the interest rate on…

After the annual inflation rate in the UK remained at 2.2% in August, it is expected that Bank of England will keep interest rates unchanged on Thursday. Official figures reveal that consumer prices remained stable from July to August when…

According to a new analysis, the Bank of England's decision of selling back bonds to investors to reduce its balance sheet quickly could cost the government as much as £96 billion over the next few years. The New Economics Foundation…

Over the last year, European governments have sold more than €16bn in bailed out bank stocks as they try to put an end to the effects of the global economic crisis. The government has been able to take advantage of the share price…

According to reports, the founder of Revolut - one of Europe's most valuable technology firms - has sold shares in the company worth up $300m (£230m). Nik Storonsky is the chief executive officer of Revolut. He sold between 40 and 60% of…

The European Central Bank has cut interest rates a second year in a row amid growing concerns over a possible recession in the Eurozone. The 20 central banks that use the Euro lowered their main deposit rate on Thursday by a…