Banking

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…

Andrew Bailey, the Bank of England's deputy governor, said that it was important to keep interest rates low in order to maintain a low inflation rate. The monetary committee voted by 7-2 to freeze the base rate of 5.25 percent, which is…

Bank of England will likely leave interest rates unchanged for the seventh consecutive time at its Thursday meeting, despite the fact that inflation has returned to the UK official target for nearly three years. At midday, the central…

Goldman Sachs warned that tax increases are "inevitable", as the legacy of quantitative ease from the Bank of England will be felt after the elections. The American Investment Bank has stated that the losses from the quantitative easing…

In an analysis which highlights the appeal of Keir Starmer’s “centrist platform” to the City of London, strategists from the US bank JP Morgan said that a Labour victory would be a “net positive” for the financial markets. In a Monday…

European Central Bank will likely cut interest rates at its meeting this Thursday for the first time since almost five years. A survey of the private sector showed that activity had increased at the fastest rate in a full year, while…

The first of a planned series of "super-ATMs", which will allow customers from multiple banks to deposit cash and withdraw money for free, has opened its doors. Major high-street banks are collaborating to install "multibank deposit…

According to a New York filing, whistleblowers claim Standard Chartered allegedly conducted billions of dollars in previously undetected transactions on behalf of Iran-linked entities or terrorist organizations. Last week, two…

The European Central Bank sent a strong signal to the world that it would cut rates next week from their historic highs. Its chief economist dismissed fears that cutting interest rates before the US Federal Reserve might backfire. ECB is…

After reducing the value of Numis following a takeover, Deutsche Bank has decided to shut down the US operations. The German lender will merge its New York headquarters with Numis Securities, a US subsidiary. Numis employs 12 people…